then the ASX announcment 26/2/19 regarding the 26c raise must...

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crobin

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08/03/19

12:20

Post #: 37698253
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Originally posted by bsamedi: ↑

I also reached out to Ian recently about the recent raise, he confirmed a few things i'll sum up here:

-The funds raised at 50c were used to advance the DFS, not complete it (I asked if they had underestimated expenditure). He also said that there are many ongoing discussions in regards to progressing the project (including funding), they are looking at all avenues 'potential strategic partners / offtake partners' but obviously very hard to predict definitive timeframes/outcomes of said discussions.

-Whilst the recent raise fell in an unfortunate period of a market 'risk off' stage, the overriding strategy that the board took into consideration was maintaining the momentum of the DFS

-a lingering low share price is indeed of high concern when it does not reflect inherent value of the business, "however we believe the news flow over the next few months leading in to the delivery of the DFS and the very high quality of the **anintha Vanadium Project, particularly the high purity of the V2O5 product, will stand us in good stead as we progress discussions with potential strategic partners / offtake partners".

Nothing we didn't already know, however was awesome to get a reply, especially to a small fry like myself.

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then the ASX announcment 26/2/19 regarding the 26c raise must have been like dejevu to Ian !!

and I quote . "Monies raised will be used to ADVANCE the Definitive FeasibilityStudy (“DFS”)"
Over subscribed and still can't commit to having sufficient funds to complete DFS

Advance Australia Fairgo

TMT Price at posting: 24.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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