Finance Date or Ann update?, page-49

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11/08/20

15:08

Post #: 46456805
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Originally posted by samer_1976: ↑

I don't believe Jinan are delaying announcement of the funding as they won't options to expire!

- Dangerous move: COVID-9 is still a threat and things are changing daily. We saw how things turned up in Victoria. This can happen in China too. Therefore, i believe (from risk management perspective) Jinan best interest will be to secure the fund as quickly as possible without looking at the expiry date of options

- 100% debt package: I still don't believe that debt package will have allowance for working capital. Working capital needs to be secured either by exercising options or raising capital; through equity (to Jinan or one of the other potential Chinese graphite manufactures (i forgot the name of the company).

- If we start to think about conspiracy theories, we will not come to any conclusion and it will only raise doubts about the intentions of Jinan. For example, why not delaying the funding for another year so that the SP can tank and Jinan can get the whole cake paying peanuts to SHs. Let us admit this: Jinan are the ones calling the shots and without them, there is no way we can secure needed funds

Personally, i believe the delays of securing the funds is because of the extra due diligence that is being done by the Chinese merchant bank and the complex nature of these funding arrangements. I think the funding will land this month, we will be able to mobilize the team in September, the SP should at least double and the options will be on the money, we will have $20 Million of working capital from exercising options which should be enough to keep us going until the mine is built and we are cash positive.

Keep the believe shareholders, we are getting really close.

Best Regards,
Sam

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I spoke by phone with PC a couple of months back he thought oppies would be in the money by 30 September if for any reason they are not they would look at that situation. Not far away do not sell keep your powder dry.

TON Price at posting: 5.5¢ Sentiment: Buy Disclosure: Held
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