Ann: Rights Issue to Raise up to A$33.17 million, page-137

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spid81

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24/08/22

19:01

Post #: 63302277
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Originally posted by HyggeLife: ↑

Positives
1.The critical pathways to project completion have been significantly de-risked with no net cost overruns on works performed to date.
2.Lindi Jumbo received a commitment from CRDB to allow for a 1 for 1 drawdown on the posting of cash as collateral. 150M share increase. Walkabout may not require the full amount to be raised through this Rights Issue and the Board reserves its right to scale back applications under the Rights Issue.
3.The Company has recently signed a binding sales, purchase, and marketing agreement with Wogen for the supply of all exported graphite production from its Lindi Jumbo Graphite Project in southeast - five years.
4.The ore reserve of 5.1Mt @ 17.9% TGC for a total of 987,000t of contained graphite is based on only 37% of the Measured and Indicated Resources. This is also the highest-grade undeveloped graphite deposit in Africa.
5.Fine flake graphite concentrate (-180 micron), Lindi Jumbo has been approached by several parties seeking medium term offtake of fines material. This may result in product pre-payments as the project gets closer to production / spare capacity for sale.
6.With a cut-off grade of 10%, nearly 8.0Mt of low-grade graphite ore averaging ~ 6% TGC will be stockpiled over the life of the current mine / extend the mine life for a further 26 years.
7.Exploration Target of between 15Mt to 29Mt and an additional 35Mt to 71Mt within a 20km radius of the current mine.
8.Middle Eastern group is considering a 50/50 joint venture to produce graphite foils.
9.The Company holds 100% of the Kimoingan Graphite Project in Northern Tanzania. It has an Exploration Target of 22Mt to 72Mt of medium-grade large flake graphite / supplying graphite to the battery anode supply chain.

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Hyggelife, You forgot,

The company has recently completed a valuation with EY, (Mikes's former employer) where the project was determined to be multiples of the proposed debt,

We can only assume the valuation was around US$20-30Mil due to the company raising funds at 11c. This gives the company a valuation of ~$50mil. 452mil shares @ 11c = ~$49 Mil. So much for @Croc-file claiming the valuation was US$100-120mil. - $130-160 mil AUD

@Pepper70 are you looking forward to seeing WKT trading back under 10c, where the SP will moves by 0,001 increments?

I honestly cannot wait to see WKT recommence trading. We are likely 6-12 months away from when the company starts commissioning and we can finally see if WKT can achieve any of its DFS forecasts. I cannot believe how wrong the time frame for construction has been.

WKT Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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