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@chukChances of this being canned are rising by the day Read...

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Merchant2000

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24/06/24

18:34

Post #: 74465828
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Originally posted by chuk: ↑

"If there is a 1 year delay"

Why one year? Where does that number come from?
It's been two months now since the Angolan banks were engaged and it will be three months by mid July. I think if there is another delay, it might be maybe 1-3 months. I see 1 year as much less likely.
If they do go straight to stage 2 capacity, 1-3 months might not have any material impact on next year's production volumes.

Cash at end of the March quarter was $1.7mill. The cr would have boosted that to around $7mill. That should last around 7 months up to the beginning of October. I would expect they will receive the working capital facility for US$15mill or A$22mill well before then. That would be more than enough for working capital, to see them into production next year. They would also still need to raise US$11mill for capex to satisfy the IDC precondition but after raising A$6mill in the last cr, that figure drops to around US$7mill to satisfy the precondition. They will likely raise more for capex, especially if going straight to stage 2.
I don't see this as a binary outcome of either on time or a year late.

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@chuk

Chances of this being canned are rising by the day

Read risks in latest presentation- jayson surely did and ran for the hills

Insolvency is a real factor - last cr saved it short term

Good luck with lending with $1m a month running costs and increasing

Important for the people of Angola

Yet no one wants to fund it

Govt loves diamonds and oil $$$

This will not end well

SMSF with lifestyle companies never ends well

imo

Last edited by Merchant2000: Monday, 18:35

MNB Price at posting: 5.0¢ Sentiment: Hold Disclosure: Not Held
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