lots of the comments and current mood by some only remind of the below meme.
warranted when promises are made but let me just remind that dates are never set in stone as per all timelines there’s always a * with a warning
the most important thing to remember about our foundation and our continued success in North America is first and foremost the success of NAL and its 3rd restart. Our relationships with Govt is built solely around making this project work. With that in mind reaching name plate and a healthy balance sheet will be key to the next pieces of the puzzle. With Opex being tight and an increased appetite from international investors it served a good purpose to bolster the cash position to derisk any murmurs of cash flow tightness in an already twice failed project. Seemingly allowing us to open the register to international (more local investors to where our assets are) to begin building that book for down the track. To get where we are going we will do more raises and we WILL want more exposure to investors overseas. As a holder I applaud the move to raise as it only strengthens us as a company.
I too have access to brokers as a sophisticated investor and had an opportunity to discuss the raise with the brokers whom lead. In short they have a very long prospect for this business. They ran a short roadshow and mentioned that the head of SYA did a fantastic job selling the vision and garnering interest from top funds around the world. Heard the likes of ESG funds and Canadian Super Funds. Perhaps we’ll see an update to registry to see who has come onboard. More interest in SYA occurred than expected.
a key element discussed which I have seen mentioned a lot is simply the fact that NAL has to prove itself. Ie not fail in the simplest of terms. So back to the primary focus of NAL reaching nameplate and no threat of cash flow issues. Which is now sorted with this raise and more.
Another key discussion was around ‘Balance Sheet’ health for potential Life of Project Partner and Quebec Gov’t. The raise plus imminent revenue has pulled this into line.
LOP Partners need certain operating assurances in place to ensure their potential investment dont fail. Again twice failed mine (even in this completely different landscape) has a hangover effect.
Gov’t funding key is the upgrade to NAL to move further downstream. To achieve this its Nameplate & Revenue. Once DFS presented and decision to be made no doubt there will be a potential commitment in $ from the Government…but first and foremost turnaround NAL successfully. They are building the battery chain our turn will come when we reach our desired destination in the chain.
I’m not angry that retail weren’t included in this raise because that takes a lot longer!! We need cash and we need exposure to international funds. Still for all the complainers you have had ample opportunity to acquire more and like SB said buy 10% more and you’re good. Same results quicker execution. Respect to BOD & Broker guidance.
I get there’s people’s who have bought at the high of the market last year but unfortunately that’s the cycle. Some people are in and do the time and work before everyone else catches on. Just have to ride the cycle which is turning as we all can see and be patient.
don’t give up so quick, growth takes time. Building a business for whoever has attempted amongst us know firsthand it isn’t built in a day. Couldn’t imagine the intricacies of mining.
Good Luck & dyor and stay vigilant in keeping up to date with the industry and how countries are moving to compete.
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