Financing coming? Shareholders are going to get diluted for peanuts, page-5

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Lithium_King

654 Posts.

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01/11/23

15:34

Post #: 70670004
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Originally posted by excelsior: ↑

That quarterly cashflow report was dire reading. Cash down to $11.7m, and legal bills keep climbing. And they stated that they were in discussions to raise capital.

The only conceivable reason I could see them needing to do a placement (and they have 15% capacity) would be to bring a friendly party on to vote with the rotten management group and defeat the MMGA crew. What sort of price would they give to an incoming friendly party? There are 3.53 billion shares on issue and cash is 11.7m - I see no reason for a funder to pay any more than cash backing as this company has no assets and a lawsuit that is draining cash quickly. Cash backing puts this at 0.3c per share.

Say they do a good deal, and some friendly pays 1c a share for 15% of the company, for $5.29m in cash for the sole purpose of blocking new management that actually might resolve the Congo deadlock. How does that make retail shareholders feel who paid up to $1.33 a share for theirs?

I trust this management like petrol station sushi. Even lower than politicians.

People need to start asking some hard questions of this debacle - is there a placement going on before the AGM?

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but but but but Jens said the company had a war chest of funds and roller agreed LOL

Company is now engaging Poynton Stavrianou as they are about to run out of funds. Wonder how big the discount will be?!

AVZ Price at posting: 78.0¢ Sentiment: None Disclosure: Not Held
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Financing coming? Shareholders are going to get diluted for peanuts, page-5

Top Stories

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

ASX hits all time high out the gate on Friday trades following bullish US inflation data

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Nimy to raise $1.21M to explore 'newsy' WA targets

Almonty locks in govt agreement for tungsten oxide plant in South Korea

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Immutep reports strong response rate from immunotherapies treating carcinomas

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

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