Ann: Suspension from Official Quotation, page-12

A good post adel, at first blush,are the permits that are Uley considered assets,particularly given the $ deposit,or are they just talking about the plant and machinery?

If the permits cant be kept in good standing they do revert To SER,I have researched this and posted accordingly on the SER thread..


" The financing is secured over all of the Group’s asset's has fees
of 10% of face value and an interest rate of 12.5% per annum, providing interim funding while the remaining conditions precedent for the larger US$20 million Initial Facility is satisfied."

http://www.valenceindustries.com/pd...e_Industries_2015_Annual_Financial_Report.pdf

I do agree with you that given SER has board representation,one would think they would be protecting their investment to the hilt.

They do have time,will they reconsider the not taking up their options?


Chimaera can waive their crteria for funding at any time,given the "closeness " of actually reaching the new production target,would pulling the pin now be in their best interests?

Some tough questions need to be asked at the AGM next week,though one would think those with the most to lose would already be across the answers.

Raider