Danakali - Coronavirus, page-8

From what I hear, everything (apart from the share price ha) is proceeding as planned.

They just raised US$21.5m at 60cps, so have cash in the bank to ride this out.
They have an outstanding US$28.5m to come in at 60cps.
(will be interesting to see if this happens or is renegotiated)

They will not raise US$50m at 30c, because they will try to get it as debt instead.

Director just bought stock at 57 or 58c.

CRU released a full report on the corona virus impact on global fertiliser prices and it is minimal.

On March 3rd, DNK released a project update (which was so boring I still can't read it after 10 attempts) ... but it appears all is on track.

Coronavirus in 52 degree Eritrean desert seems unlikely but I'm not a medical expert.

As for Directors getting monthly salaries.
Please, can anyone, anyone tell me someone who works for free?
I think Elon Musk takes a nominal $1 salary per year at Tesla. (but if Mkt Cap hits a certain value he gets $50bn in Stock)
I think Warren Buffet does the same, a $1 salary.

As a business grows, which is what DNK is doing, they need to attract executives with experience and they need to pay them $money. (this is not a new concept so anyone that can't understand this must be a moron)
And unfortunately these new executives don't hold shares which looks weak as p... but maybe they have a wife and 3 kids and don't have the spare cash, I'm not sure.

So, these are the facts.
Enjoy your Monday.