GREY:ARGEF - Post by User
Comment by
morriconeon Jun 02, 2015 10:47am
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Post# 23788668
RE:HowardGroup
RE:HowardGroup
It's pretty clear that the main financing is not imminent, not coming through in June, and certainly not "soon". We can't even be sure that there is a deal under way and that it hasn't completely collapsed (although from other indicators that's unlikely). We've been expecting a grand financing announcement and apaprently we're going to get financing announcements in dribs and drabs which is not what we were led to expect.
This financing announcement is probably a violation of TSE rules because there's no details such as how many shares. I suspect they'll be forced to issue a clarification very shortly. The fact that they've withheld this information doesn't do much for their credibility.
From the Howard Group clarification: "President and CEO Roy Bonnell commented, “Once the FEED/FEL3 (front end engineering and design) is completed, Argex will have a guaranteed target contract price and along with the corresponding work on the long lead items ...."" That simply raises the question: What has the company been doing for the last 2 years?