Post by
whoisyourpapa on Aug 23, 2021 12:38pm
Capital Raise
Looks like they are looking to raise additional money. The intended $25 mil AUD raise on the ASX only ended up being the guaranteed $15 mil. Not sure if the Sangdong build-out is going over the original budget or what but here we are. . .
From MD&A dates August 16:
The Company believes that, based on the current price of APT and its forecast production schedule for fiscal 2021, it has the ability to generate sufficient cash flow to meet its current obligations at its producing mine. The Company will, however, need to raise additional capital to complete the development and build-out of the Sangdong Mine. The current price of APT has reached levels where it is sufficient to cover the Company’s cash operating costs on existing production volumes. Should the Company no longer be able to produce tungsten concentrate in sufficient quantity, then the Company may not be able to meet its current and long-term obligations. Outside of abiding by (i) Spanish law requirements on minimum capital adequacy at Valtreixal Resources Spain SL and Daytal Resources Spain SL, (ii) Korean law requirements on minimum capital adequacy at Almonty Korea Tungsten, and (iii) Portuguese law requirements on minimum capital adequacy at Beralt Tin and Wolfram (Portugal) SA, there is no legal restriction on Almonty’s ability to repatriate capital from its subsidiaries.
Comment by
whoisyourpapa on Aug 23, 2021 3:56pm
Sedi filing 08/23 LB 250,000 shares at $0.94 whois
Comment by
whoisyourpapa on Aug 23, 2021 4:12pm
Options to buy shares I should have said
Comment by
lonade on Aug 24, 2021 1:44am
not a single share traded on the ASX since two days...the unfathomable enthusiasm has left everybody in a state of complete lethargy. or to say it in short, WTFIGO!