Maxim Power Corp T.MXG

Maxim Power strategic plan

[tinkvid]

As Maxim Power continues on with their strategic plan, independantly and with Valory Resources, whom by the way was founded by Ian Slater and Jay Sujir,  I would imagine there are lots of potential developments going on that we could not even imagine. Heavy hitters in the investment community work together to create value for their shareholders and ultimately, themselves and people close to them. 

Some laughed at or dismissed me for investing in Maxim Power but I still hold and continue to add because of the hidden value many don't see.

I was able to pull the story for the link that I posted yesterday.

Canadian coal explorer Valory Resources Inc. is on the hunt for $20 million ahead of a float late this year. Street Talk understands the miner was in the market on Wednesday, seeking to raise up to $20 million via a convertible note. Sources said major European coal investor Crocodile Capital has signed up to cornerstone the raise. The firm also backs several large Australian coal companies, including Whitehaven Coal, Stanmore Resources and Bowen Coking Coal. Valory’s 24-month term note was priced at $1 per security and converts at a 30 per cent discount to any future capital raising. The majority of the proceeds will be used to acquire an advanced, underground hard-coking coal project dubbed Mine 14. Valory Resources operates out of Alberta Canada. It has ambitions to become a leading supplier of premium coal to steelmakers, and is touting its coal as delivering comparable quality levels to BHP or Anglo America. Shaw and Partners is the sole lead manager on the raise and was calling for bids by 5pm on Wednesday. Valory president Brian MacDonald, who was head of AMCI Australia, is understood to be leading the effort from the company side. Valory is targeting an ASX listing in the fourth quarter of 2024, for which it is likely to tap Shaw and Partners. Street Talk understands investment bank Jefferies has also produced a valuation piece for the company. Article source: AFR, 26 June 2024 https://lnkd.in/gqfE79Ed

[longrun86]

Thanks for sharing! I am wondering if there is a way for Maxim to roll the Summit project into Valory with Maxim's current shareholders being offered a choice between cash or shares. I am not sure what that tax implications are but I am hoping they can shed some light on this soon. It would be nice if the AER would let us know what the hearing timeline is! Thanks again for sharing! LR

[tinkvid]

Only thing I can think of is if MXG spins out Summit Coal into its own public entity and distribute the stock to MXG shareholders.  The article only stated Valory is seeking an ASX but I can't imagine they would alienate the public markets in North America, especially the jurisdiction the Summit Coal asset is in. So a TSX listing might be in the works???? Ian Slater and Jay Sujit are