RE:Pallinghurst Nemaska pagewow, thanks ewaltz for the discovery...after I read it I'm probably going to buy NMX shares. Reading it now...wait....wait....ok read it...
I was almost convinced to buy but I noticed the following (pay attentinon to yellow highlited items):
"
Pallinghurst has signed a
letter of intent (“LOI”) which
could see the group invest
up to CAD600 million in the project,
subject to due diligence.
The investment would ensure the project is fully financed and facilitate the creation of a world class, low-cost lithium hydroxide producer...
"
I think many of you understand that Pallinghurst will come up with whatever money NMX needs to ensure fully financed right?
Wrong, Palinghurst clearly states UP TO $600 million. The LOI is subject to DUE DILIGENCE and that is needed to ensure that the 600 mil is enough to fully finance the project and is probably what they were told by NMX, however NMX had the Bonds at the time and that has changed since...
is 600 mill enough to fully finance? NO, not enough...
did Pallinghurst delay? yes they did...why? because the deal is not as good as they originally saw...
anyone worried yet?
I TOLD YOU SO