consistent misinformation being posted hereI went out of town for a holiday and returned to a kaka storm of misinformation on this board.
Here I will once again try and clarify a few key points. But first, I note that in my view the best information on this board is coming from Notgnu and Nofluff. Patchh has the most colorful posts but overreacts to certain events in unreasonable and frankly pointless ways at times.
My perspectives :
1. the Castlelake posting is simply a regulatory requirement that restates the following details:
"Prior to the completion of the Transactions and the said issuances of NCU Shares, Castlelake funds held (a) 286,535,165 NCU Shares (representing approximately 19.6% of the then issued and outstanding NCU Shares on a non-diluted basis); and (b) 74,951,426 Warrants (representing, together with the 286,535,165 NCU Shares, approximately 23.5% of the then issued and outstanding NCU Shares on a partially diluted basis (assuming only the exercise of the Warrants held by the Castlelake funds)).
Upon completion of the Transactions and the said issuances of NCU Shares, Castlelake funds hold (a) 286,535,165 NCU Shares (representing approximately 15.6% of the current issued and outstanding NCU Shares on a non-diluted basis); and (b) 74,951,426 Warrants (representing, together with the 286,535,165 NCU Shares, approximately 18.9% of the current issued and outstanding NCU Shares on a partially diluted basis (assuming only the exercise of the Warrants held by the Castlelake funds))."
In other words, their percentage of ownership went down because they did not particpate in the events that led to issuance of more shares to Pala. That's it. Nothing else. All other statements about Castlelake are misleading, or fanciful, or delirious. Of course, they may wish the mine was already at full capacity production, but they should have enough sense to realise that will happen within 5 months, based on corporate statements.
2. Last year, when the copper price was low, and covid was scaring markets, then more capital and borrowing was required to complete the mine. That was then. Now they may or may not require some bridge financing to get the $10 to $15 million monthly cash flow coming when full production occurs. Any other statements about the company being a tire fire, or going bankrupt, or being forced to sell, are nonsense, or lying, or both.
Of course, different people have different views about uncertainties. In this case, with the quantity of copper in the ground, with the mine constructed and in normal startup mode, and the US being copper-short, there is no real uncertainty in my view other than when they get to design capacity. That is a solvable, normal engineering problem.
It is too much work to try and counter the crazed nonsense posted here, particularly if you write in complete sentences. Just bookmark this post.