Hmmm .... not quite as much spin as ICC ODI World Cup but plenty...

Hmmm .... not quite as much spin as ICC ODI World Cup but plenty out there,

I make today's VWAP at ~$0.152 and it did briefly test $0.14 and held. I would expect it to be tested again this week.

Now PAM is saying it raised A$1,450,000 (before costs) and that PL and DH contributed $240,000 ... so $1,210,000 came in as new (?) money from GBA Capital clients and their marketing effortd (noting GBA put their best foot forward ... interesting turn of phrase).

As I understand it, PAM was looking to raise $2M and was looking at accepting oversubsciptions. You can look at this a couple of ways I guess:

1. Yeah ... its really tough out their raising fresh capital ... and be transparent ... we only achieved ~75% of the goal
2. Nah ... it may well be tough, but quality projects. Now I'm not comparing LRS' Salinas project but they had no problems raising $35M at a 11.7% disc to 5 day VWAP - don't know what LRS' goal was for the raising

RKLP has a JORC MRE ... that should have some sway ... but it seems like the only rocks ASX lithium investors like is SC.

Net Net IMO PAM is becoming starved of capital ... and really needs the much talked about partnerships to be cemented AND FUNDED (no MoU ... asset level sale and equity funding) ... Don't mind if an OEM wants a piece but capital is the only thing they can provide (whether thats OTA with prepay or some other equity form)

And I dont think there is a ASEAN Deveopment Bank. I know of Asian Development Bank out of the Philippines ... but these commercial investment banks are not going to project finance anything like a project that PAM has at this early stage - it just wouldn't pass a bank's credit review - and PAM has a NED with experience at Asian Development Bank.

I agree with you @walshyo PL has to get this thing derisked and the only thing that will do that is IRPC partnership (I believe) (... what's stopping them from jumping in??? That's my concern






The second two depend on the first ... no mine no conversion facility or CAM facility (well I guess you could substitute another miners concentrate ... but if so why is PAM needed and it has no "currency" in the transaction (the concentrate)).

Something is holding IRPC back ... but what?