beautiful stuff sumone fully funded with surplus cash sounds...

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charlesn

3,978 Posts.

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08/08/24

22:17

Post #: 75133194
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Originally posted by sumone117: ↑

Credit to the goblin who had access to the PAC webinar for sharing these nuggets.

“Scott returned to Australia on Tuesday night after meeting with Mutapa investment fund this week. Sounded like the placement was a lot about appeasing local investors/government. Scott commented that many of the Zim ministers mentioned that they would be buying shares on VFEX. Seems that many of the shares that were placed are in escrow so wouldn’t expect high volumes and have taken some time to clear into accounts. Chappiani spoke also about the complexities of raising money in this way given the investors were not as familiar with similar cap raises completed on ASX. Reiterated it was about making things available to local Zim investors.Scott confirmed PPSA largely finalized and will be completed before the end of this quarter. This appears to be a hurdle for the Farm in. PPSA numbers all locked in, appears to be a sliding scale- the more the project generates the bigger the government share. Scott specially mentioned comparable to Namibia if anyone knows more details there? Farm in sounds like all terms agreed just waiting on PPSA.Repayment of back costs quoted as $80m USD (portion of these costs relative to farm in percentage) + well and works program for next 2 years to be fully funded.Scott stated IVZ won’t be coming back for any funding based on this agreement. Some of the PAC partners brokers asked/jokingly asked if there would be a capital return to holders with such a large influx of cash to the company.Scott also spoke a lot about the previous Mangwana raise and the share price movement following this (1.5-2 cents increasing to 20 cents over the period) was very confident that there will be a similar period of positivity in the near future.Scott also commented that African banks were reviewing the data room and likely providing some funds for the pilot project. Unusual for them to back a project so early but reaffirms the confidence in the flow test outcome etc”

DYOR

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beautiful stuff sumone
fully funded with surplus cash sounds bloody fantastic
and PPSA by end Sept is the only time we have had a date to hang that on, soon and imminent now justifiably met with scepticism

will buy a few more tomorrow if the current dip continues

Last edited by charlesn: 08/08/24

IVZ Price at posting: 7.5¢ Sentiment: Buy Disclosure: Held
18 Upvote

0 Great analysis

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