Ann: Trading Halt, page-218

First 218 Last

Share
Profile

Follow
JohnMaz

252 Posts.

31

09/12/21

13:50

Post #: 58189402
Share
Originally posted by HeliosUK: ↑

A few things here..
Am I disappointed? Yup
Am I surprised? Nope. We had a $56m USD delta in the capex, and the recent SPP was not for the capital for LLL. This was inevitable, I just didn't know if it would be on IPO or before. It was obviously required
Am I surprised in context of last week's announcement? Nope. Alas, that's the ASX... you need to start fishing and drumming up interest and you legally cannot say you're after a cap raise unless you're releasing that at the same time. With the speculation, they had to put something out, and the key word was in there... no MANDATE. Shame though

What does it mean now? Have to see what the discount is. Two things are for certain:
1. It takes a crap load of cash to become the world's 3rd LARGEST LITHIUM PRODUCER. In a world of inflation, that is inescapable.
2. Management DID look out for the RETAILER in the order. I would be much more upset if they did a cap raise, then did the SPP at 77c and gave us 10% off there.

Think about that. We all had the chance to top up at 58c and most here did, by the sounds of it.

Instos are going to be topping up here at who knows what, but let's take AVZ as a benchmark - 22%, that would be 60c

So assumption is we got in cheaper, because of the order of play that management did this. I think the release last week to say NO MANDATE was to try to shake off the shackles of the big boys suppressing the price to get in cheaper. Alas, it didn't work

What does this mean for Feb/March? Nothing... we will still rocket.

What does this mean for faith in Mike? A little tainted for me, but I'm not running around my village with a pitchfork and a white sheet.

Expand

Thanks for these words. Puts things into a better perspective. And for me, thats's true. I managed to sell some shares at 71.5c to buy a few days later at 58c in the SPP. Let's hope for a decent announcement taking us out of trading halt by way of an explanation.
FFX Price at posting: 75.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

What's causing the cost-of-living crisis, and how to navigate it

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon