broke short term trend, decisively, now we have to see if it will break long term trend, 62% FE tracking nicely on that new base and 65% FE is much the same.
today was a liquidity event, so will have to see how things pan out for the rest of the week.
15% of the Saudi deal to me is great, we now hand over the nitty gritty part of it to the other two funding groups to execute the rest. Sounds like the Saudi money is a given due to their internal processes with certificates of surety. I noticed the Saudi prince is the a real fan on minimising red tape so much needed projects can be fast tracked.
all in all it’s a good deal, I did notice this section here which alludes to these finding groups also looking at the hismelt in Malaysia and bio char plant. If you get enough of these 15% deals and provide the iron ore when needed and keep expanding through this method, they could be generating some serious cash and be apart of 3 parts of the steel value chain with lower overheads and higher profits. Also the potential to take on more value add mines in Brazil ect.
as mentioned in the raise which is expected in Q4, that it will done at an almost 500% premium to todays price, that means we have 6 months to bridge that gap as the funding round grows closer to an end.
there is a reason the options went up 166% today and the SP didn’t close on high. Let’s wait and see what the rest of the week brings and possibly we can have more clarity from the board moving board with an investor presentation would be nice once they can tie up some more things.
