Ann: Quarterly Activities Report, page-40

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BigDaniel

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25/01/20

22:58

Post #: 42576121
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Originally posted by Names little ↑

Hi Capraise, interesting point on the long lead items not being paid for in the quarter. From what I can work out they received the subscription funds on the 10/12/2019 and noted in the announcement

"Funds raised from the $8.5 million strategic placement will be used to commence early construction activities, detailed engineering and placement of long lead time orders for the Ancuabe Graphite Project. "

What sort of time frame from that point would you then expect as reasonable to order and then pay for those long lead items, like there was only 3 weeks from that point to the end of the quarter? Would the timing be dependent on that "detailed engineering" or would they just place an order anyway based on some preliminary engineering?

Thanks

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Another poster who spoke to Peter relayed to the forum...

Peter was keeping the bulk of the loaned money in reserve for operating expenses until the $8.5m was recieved & financing was progressed.

We only recieved the $8.5m investment by JHT late December so ordering of long lead items would presumably only be happening now.

In saying this there was $214k spent on development..What that entails could be anything.

Staff & admin accounted for a combined $700k.

Out of the $8.5m after the loan + interest was repayed there is roughly $4.9m in the kitty.

So where did the other $2.6m go?

Did you notice the $2.6m refundable bank gaurentee for the construction of Ancuabe in the 5B appendix?

That's a very strong indication finance is progressing very well.

GLTA.

Last edited by BigDaniel: 25/01/20

TON Price at posting: 3.7¢ Sentiment: Buy Disclosure: Held
12 Upvote

2 Great analysis

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