If you google trout unlimited empire mine there is a write up of the empire project and its progress.Of course what the article says might well be wrong but who knows.GLA |
kaos: You’re assuming the “assets” have substantial value, there’s no evidence (in the form of bids or funding proposals) that they do. Everything you hear about the project is from the company ramping its value. There’s bound to be an alternative perspective. |
Basically there is a major issue with NIU, and they are just biding their time hoping it will sort itself out. Everything at standstill again with no funding. When they say contractually oblige it means nothing.
IMO This will continue to trickle down to pennies as we get closer to q2, only 4-5months away.
What if NIU were sold a fantastic story, however when the PFS came out, they were not happy. So many possibilities, don't even want to think about it. And they keep and saying contractually, meaning, double speak for ending up in the courts. PXC is now worse off than BEFORE funding, as NIU are in the room! |
at this share price level a buy out proposal is the most rational thing for niu. peanuts and off they go - even if they have no money. pay back spiral debt facility and flip the assets.
strange that the riverfort or whoever has given the loan did not trigger... this is what intrigues me... bod was telling the truth... good relationships... i did not believe it... but was true
superb real life novel .... |
other properties which are in less advanced stages of development and need more capital as far as i understand - should now get money......
my one brain cell can not process it - again |
It’s clearly an excuse to cover for the fact that their main project has a funding deficit, which needs addressing with alternative sources. Can anyone name any microcap, single-project, mining developer which has attracted debt funding equal to more than their mkt cap? Why would anyone lend on those conditions? There’s no security whatsoever. This applies to EML as well, amongst others. |
The idea that the company has a terrific asset they can move to strong cashflows next year after years and years of prep work but wants to borrow more money to try to start prepping other far earlier stage assets using more expensive borrowed money before they get this first one started or even a timeline to do that seems like a very stupid idea. It also does not fit their model of pursuing those opportunities using the cashflow from Empire.They struggle to get a single asset to a position to exploit it ..last thing they need is to be spending $ms more on others. |
Also what happened to the legal subscription agreement signed by NIU with an obligation to provide $30m by 5th Nov and a further $50m in the following 5 months?? The CFO was bandying this about reassuring shareholders there was no issue with NIU after the interims and the first red flag. |
The RNS does specify the additional funds being sought are to develop additional areas of the Empire area, in addition to the open pit, which the NIU funding is for. Time will tell if that's how it works it. |
This line is telling"Although there can be no certainty, the Directors remain confident that additional bonds will be placed. The Company looks forward to providing shareholders with further updates relating to bond financing as appropriate."It basically confirms they need new buyers and that NIU are not there ..and the project is now not considered fully funded anymore as shareholders were told. |
unless Wilkins and Co can pull a rabbit out the hat, this does look like the beginning of the end. |
yesterday i was looking at bis world liquidity - going down... so liquidity out of the system is slowly drying... only big in the club members will have some |
Clear as mud (as usual) |
More questions than answers there..with no certainty around there being funding available. I think it looks like NIU's plan was to put the $5m in and get the equity warrants etc ..list the bonds and try to make other buyers..and they can't find any. Hence the talk of finding other bond buyers. Might be wrong on that but this update does not provide any comfort on project funding ...but the fact they have to state they have funding to pay the central cost bills till Q2 means they are OK for a while drawing salaries and paying advisors ..which is the important thing! But they are already in net debt by at least $5m to two creditors having got through all the funds raised from shareholders so are already living on fumes. |
as i read it as English being my fourth language and having gardening occupation
- we did not ger the money in time
- niu is looking at the pfs.... is an excuse for not giving the money, they could or could not have the money at the moment - they are buying time ... for either getting the money or for the legal actions getting the pladged assets or the Co control - for a resell - thew are assets flippers not miners
- plan B exists - in the hopium world .... no regulated institution can lend serious money to the esg dirty mining business as the reservation costs of their capital becomes so expensive - that taken all together it is prohibitive expensve to the loan taker
- the term Company- they are controlled by niu so there is no independant Co... it is a wishfull thinking until niu pulls their levers... maybe that is the time buying for
all in a my stoopid non professional opinion
but i am crossing the fingers i am wrong. no one wants bad things to happen |
Why are they looking for a change in drawdown schedule if it was already agreed? Why are they looking at other bond investors if funding is sorted? RMM.... |
An update, with no real update. How very PXC. |
 Reputation management falls under IR...the reputation here like the share price is taking a beating, another volume backed fall to an all time low by presumably motivated informed sellers is saying there are real problems. I think when the company has spent tens of millions of investor cash and now several million more as debt to move a mine to production and there remains little visibility of where they are with that or indeed whether they have funds available to get it there. They cannot stonewall investors for ever on some idea they are restricted for whatever reason ( and it's difficult to think with the price anything good is being discussed or will happen) they have to free themselves to update one way or the other on whether they have funding to get empire into production and when they anticipate production to start as soon as possible.They have a long list of advisors overseeing a collapse in the price and a complete lack of clarity going to shareholders...shareholders who own the company ...what is left of it !! |
Just hope nobody has anything in here that they couldn't easily afford to loseAIM and exploitation does mean a > 50% chance of shirt loss |
It's not an investor relations problem It's giving away a quarter of the company for very little to someone who shall we say - has some reputational issues That they did that was because they wouldn't accept the reality of there being no debt finance available from any credible source - they could of course have raised equity from a much higher share price Muppets |
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