RE: upcoming 43-101 / drill resultszenona, it stands to reason that someone at the Money Show would have made a comment when asked a question on the pending financing for the $800 capex required? A previous poster asked if the share price for a take over will be $5 per share....the answer by the people in the booth was a unanimous ..."higher!"
If you consider what
we have already been told in the two new releases below. It is not hard to connect the dots. Read them, then read them again, and if you still can not connect the dots....well I tried...
In the last Conference Call someone posted that Farhad made a comment that AAA was considering an Offtake Agreement as a financing option. So, under the same terms, if not China Minerals then someone else will come in and finance 35% of the capex and get paid back with a $100 per tonne discount until they are paid back....this was called by analysts as a very "shrewd" business arrangement...for Allana...good on you Farhad.
So, zenona, we should not be surprised to hear someone indicate that the
"IFC and LMM have ante'd up an additional 250mil + for the mine."...It will be made public after the NI Resource Estimate is released and Farhad moves onto the next milestone....which is his priority....derisking the financing...it appears you have heard a little earlier than the rest of us...bring on tuesday!!!
Karma
Nov 30, 2010
ALLANA POTASH CORP. CLOSES $12.39 MILLION PRIVATE PLACEMENT WITH STRATEGIC INVESTOR
Pursuant to the terms of the Offering, the Company and LMM have entered into an
Investor Rights Agreement which gives LMM certain rights, including without limitation, participation and registration rights (in certain circumstances), as well as the right to nominate one director to the board of Allana, provided LMM continues to hold at least 7.5% of Allana's issued and outstanding shares. In addition, subject to certain conditions,
LMM shall have the right to participate in any future equity or equity-linked financings by the Company in order to maintain its current ownership in the Company. This financing has allowed us to raise a substantial amount of equity capital at an attractive cost and
will fully finance our Ethiopian potash project through the completion of the exploration program and bankable feasibility study. We
continue to receive considerable interest from various organizations regarding our Ethiopian potash project and we are free to continue these discussions from a strong position, knowing that we are well financed through the completion of a bankable feasibility study.
It is very important to note that LMM is a long-term investor who is "committed to assisting Allana when our Company enters the mine construction stage"
Mar 24, 2011
ALLANA POTASH ANNOUNCES A STRATEGIC INVESTMENT BY INTERNATIONAL FINANCE CORPORATION
Our Board and Senior Management Team have carefully evaluated the merits of an investment of this nature at this stage in Allana's growth and have unanimously decided that the support that IFC can provide to us in Ethiopia is significant. In addition, we believe that developing a strong relationship with IFC places Allana in a very solid position to secure possible "future debt financing from IFC" and other international organizations for the construction of a potash mine in Ethiopia." The IFC has done a thorough due diligence on Allana's potash project. As part of their due diligence process, IFC has completed a site visit and conducted technical, environmental, social, financial and market analyses