and now being trucked to port storage..........cash ok but financing a little unclear.....and the take off for next year still a little vague for 1 of the 2 partners.........stage 2 talks all smiles but I cannot see the point without full stage 1 sales........price has been hammered of late....are the risks fully priced in now?so commissioning done, production is go. enough concentrate to fill 1st ship at mid-Aug.
This is fairly typical of explorer turning into a producer. A bit of hype and blue sky while exploring and the price based on "maybe they will find some more". Then they become a mining company and not an explorer and the fundamentals replace the blue sky. I have a habit of selling explorers when production is imminent as the price usually drops. There are always exceptions, but I have found that this is generally the case. this isand now being trucked to port storage.................price has been hammered of late....are the risks fully priced in now?
It's not a stock I'm following but I do see that the share price is down more than 50% since your post so there's something not going well presumably?AJM was poising in a good shape recently but what could have tempted the COO to resign abruptly without giving the company option to source his successor in a planned way?
Prompted me to have a look …. Chinese Co. Shansan increasing their stake to over 19% just recently at 11.2 cents per share. A couple of weeks later its down to 7.4 cents. If Chinese want control, short term SP going down will probably suit their plansIt's not a stock I'm following but I do see that the share price is down more than 50% since your post so there's something not going well presumably?
Looks suspiciously like pushing and shoving going on to me.If Chinese want control, short term SP going down will probably suit their plans
That's a lot of control if they choose to use or combine it
must be messy?.. loan note holders have agreed to defer all payments and waive key covenants under the facility until 31 Oct 2020. This Waiver once again shows strong support from the lending group and will allow Altura to continue evaluating proposals with a primary focus on reducing financing costs.
As previously announced, the Company has appointed Perth based corporate advisory group Azure Capital to assist the Company on the restructure of its debt arrangements. Pending a further update on the status of such proposals, the Company requests that its securities remain in suspension.
Altura reckons its Altura Lithium project, located south of Port Hedland, is as good as any in the business thanks to its high quality ore, low cost production and shareholder approved offtake agreement. The group's problem, however, is a debt laden capital structure designed at a time when lithium prices and forecast prices were much higher, which has Altura in breach of its covenants and at the mercy of its lenders.It is understood Altura Mining boss James Brown and his bankers spent part of the weekend shoring up support from a handful of early institutional backers, in an effort to have the deal underwritten and ready to launch this week.