Yes Gopher, you are more than likely on the money. Its a shame...

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Rameez

12,334 Posts.

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15/04/16

11:50

Post #: 17512262
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Originally posted by Gopher ↑

Surely it can only be in relation to the following - from the accounts:

f) Going Concern The Group has net current assets of $4,093,556 (30 June 2015 – net current liabilities of $6,418,152) and incurred an operating cash outflow after income tax of $2,648,220 (31 December 2014 – outflow of $1,768,470) for the half-year ended 31 December 2015. The Group’s ability to continue as a going concern and meet its debts as and when they fall due is dependent on the Group formally closing Stage 2 and Stage 3 of the financing transaction with Appian and IFC and the Group’s ability to obtain additional financing. Completion of Stage 2 and Stage 3 of the financing transaction is subject to the satisfaction of the following: Stage 2: Appian and IFC will invest a further US$2.875m to purchase a further 12.5% interest in PAM subject to receipt of final regulatory approvals. Stage 3: On or before 31 July 2016, if Appian and IFC deem production of full separated rare earths of saleable quality is economically viable, Appian and IFC will invest a further US$4.4m to purchase a further 12.5% interest in PAM. In the directors’ opinion, there are reasonable grounds to believe that the approvals for Stage 2 will be obtained and the funding (under Stage 2) will be made available on the terms agreed. Stage 2 is subject to regulatory approval and Stage 3 remains subject to the satisfaction of milestones in accordance with the terms of the agreement. In the event the Stage 2 and Stage 3 milestones are not satisfied or terms for the investment are modified, the Group will need to seek alternative funding or may be unable to continue as a going concern. No adjustments have been made relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Group not continue as a going concern.

I didn't like the dump of shares at 6.5c just before the halt, but hopefully stage 2 and 3 are both still on track????

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Yes Gopher, you are more than likely on the money. Its a shame these types of announcements are not made more clear at the time of delivery. It looked to be something completely new. At the end of the day there will be no input from us until the announcement is made. On standby with interest.

PEK Price at posting: 6.5¢ Sentiment: Hold Disclosure: Held
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Yes Gopher, you are more than likely on the money. Its a shame...

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Yes Gopher, you are more than likely on the money. Its a shame...

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