You need to read the 2017 Financial statements again. Your...

First 113 Last

Share
Profile

Follow
Wanty017

988 Posts.

124

04/12/17

21:28

Post #: 29364104
Share

Originally posted by rocket973 ↑

downunderboy, what you have said is incorrect so its best to read the AIS announcements late 2015. There are CRPS 560,463,653 and CNRPS 140,115,913. There is also a 5% payment if Cu price goes above $8000/t, and more at $8750/t and $9500/t.
To redeem all the notes is something like $50 million, and have until 31st DEc 2019.
The CNRPS and CRPS convert automatically on the 31st Dec 2020, its possible for another shareholder to buy like Glencore, or AIS could conduct a SPP and raise the funds. But the CRPS and CNRPS can be converted earlier if the shareprice is high enough for the holder to want to exercise them, which is possible.

http://www.asx.com.au/asxpdf/20150803/pdf/4307vg0md5h6p4.pdf

I should point out that ARE already has far more shares than AIS will ever have. ie ARE number of shares currently is 1,170,063,799
AIS currently has 140,116,703 shares.
So even if the shares as listed above are converted, which is unlikely then the number of shares will be 840,696,269 shares.

Now, Argonaut ARE has a 4 x the market cap of AIS. However, ARE only has a 30% stake in Torrens, whereas AIS has a 70% stake. ARE is more likely to raise further capital to fund their share of drilling (further dilution), whilst AIS will have no problem to fund their share from cashflow.
I do add that I'm a ARE shareholder. I'm not bagging ARE as I do like seeing the improvement in the ARE share price, but to see ARE at 4 x AIS is just crazy.

AIS, is doing OK with Cu at present as Cu is now US$3.10/lb or AUD$4.08/lb. Just imagine if Cu goes up to US$3.50/lb, AIS is producing Cu at the rate of 24,000 tonnes pa. so it has sales of AUD$250 million and profit of AUD$50 million, and can easily buy back the notes.

Expand

You need to read the 2017 Financial statements again. Your analysis is wrong

ARE Price at posting: 3.4¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

AHK

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

SS1

Sun Silver to kick off drilling next week at 292Moz Maverick Springs silver-gold project

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

World Gold Council says market in want of catalyst; flags Asia sell-off risks. Then there's Trump

There are more pages in this discussion • 124 more messages in this thread...

First 113 Last

Add ORP (ASX) to my watchlist

(20min delay)
Last 7.5¢		Change 0.000(0.00%)		Mkt cap ! $14.23M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	600	8.0¢

Sellers (Offers)

Price($)	Vol.	No.
10.5¢	16000	1

View Market Depth

No.	Vol.	Price($)
1	600	0.080
3	72732	0.075
1	45712	0.071
1	14000	0.065
1	110311	0.064

Price($)	Vol.	No.
0.105	16000	1
0.110	127800	1
0.115	127518	2
0.120	8341	1
0.125	40000	1

Last trade - 16.12pm 03/07/2024 (20 minute delay)

ORP (ASX) Chart

Day chart unavailable

You need to read the 2017 Financial statements again. Your...

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

Sun Silver to kick off drilling next week at 292Moz Maverick Springs silver-gold project

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

World Gold Council says market in want of catalyst; flags Asia sell-off risks. Then there's Trump

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

You need to read the 2017 Financial statements again. Your...

Top Stories

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

Sun Silver to kick off drilling next week at 292Moz Maverick Springs silver-gold project

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

World Gold Council says market in want of catalyst; flags Asia sell-off risks. Then there's Trump

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News