Zinnwald Lithium Share Discussion Threads

[altcoin] 14/12/2021 10:24

I dipped my toe earlier ATB

[dmitribollokov] 14/12/2021 10:22

C.4m cleared by 10am, shouldn’t take that long to clear the overhang, then back up.

[rimau1] 14/12/2021 09:56

Rns from BCN noting the raise but no mention if whether they took part. I assume not so i guess they no longer own 31%, its probably more like 27% now

[cyfalafwr] 14/12/2021 09:13

Getting near the placing share price this morning.I have had a small top up.

[igbertsponk] 14/12/2021 09:10

Who could have predicted that they'd need more cash soon?
Chortle!

[steeplejack] 14/12/2021 09:07

Yes,i agree,an unnecessarily deep discount.Yet,these junior miners often issue stock at deep discounts,EMH for example has a history of doing just that.It won't make much difference at the end of the day but its irritating nonetheless.

[bountyhunter] 14/12/2021 08:56

I guess Mr Maxey demanded that price to underwrite £4m as it was certainly heavily discounted I agree.
Looks like a good buying op now as a result imho.

[cbeadle] 14/12/2021 08:54

This placing has been discounted way too much, but perhaps a chance to add some more ZNWD- politically the outlook has a real boost too

[bountyhunter] 14/12/2021 08:44

In the RNS it says that the placing was scaled back. That presumably was as retail interest was sufficiently high for Mr Maxey to only be allocated the minimum 25% of his potential allocation.

[rimau1] 14/12/2021 08:43

The raise was for £4m which Was fully underwritten by Maxey and they ended up raising £5.8m with £1.8m being from retail including me! I got my full allocation and very pleased as i was looking for a home for my BCN proceeds. I wonder if Gangfeng took part or got diluted?

[jusjusjus] 14/12/2021 08:42

bounty - good question, think that proves I mis-read the documents last night!

[bountyhunter] 14/12/2021 08:35

Exactly, where was any £8m retail target mentioned? I thought if was up to £3m retail with £4m of the raise fully underwritten of which £1m was reserved in any eventuality for Mr Maxey.
Also it was a very short time window which many would have missed.

[jemjem] 14/12/2021 08:33

£5.8m is the total raised across retail and institutional. Where do you get the £8m figure from? It was effectively oversubscribed as Mr Maxey was scaled back.

[bluntnib] 14/12/2021 07:54

Down about 9% so far this morning on German market pre London open.

[jaf111] 14/12/2021 07:51

Slightly surprised by the lack of RNS at 7am this morning.....

[bountyhunter] 14/12/2021 07:48

We should get a placing/offer outcome RNS anytime now. I also expect the price to remain above the placing price for the reasons you stated.

[lazygun] 13/12/2021 23:55

it's only a max of around 10/11% of total shares in issue being added in any case..

being underwritten in effect by henry maxey is a great sign. at a minimum, as people have pointedd out, he's going to at least double his investment...

I can imagine this may drop a bit, but I thinnk overall it should stay above the placing price.

They cant be far off announcing further news on progress - it's been several months now since the 50% acquisiiton of the interest in the project, and a year since they started on the post dfs work streams as well...

underlying lthium prices ought to he,p support current valuations too....

l.

[cbeadle] 13/12/2021 20:42

I missed my chance.
Trading tomorrow will be really interesting, but congratulations to anyone adding at 15p because I think you’re getting in order of 15-20% discount

[bountyhunter] 13/12/2021 20:29

Yes that would make sense at some point especially as EMH has 3x the market cap of ZNWD so would effectively be a takeover most like with a premium paid to ZNWD shareholders. Not just yet though, ZNWD needs to get it's breath back first after tonight's raise.

[cbeadle] 13/12/2021 20:24

They could have raised at 19p probably. But still I think it’s good news, and indicative of future developments which will realise value. Essentially Znwd are exploiting the same deposit as EMH except on the German side of the Czech border.
I wonder even if they might eventually merge with EMH, it might make logistical sense too.

[dmitribollokov] 13/12/2021 20:21

Will add tomorrow morning. Think maxey will get the lion’s share of the placing as ppl only had 3 hours to notice and react!

[bountyhunter] 13/12/2021 20:09

That's what I thought, had to be quick though!

[dmitribollokov] 13/12/2021 19:57

The placing price is a pain, but henry maxey being prepared to underwrite this to the tune of £4m for a minimum £1m investment speaks volumes, it will come back then rise. This is perversely good news with the maxey involvement, he’s prepared to essentially double his investment here.

[bountyhunter] 13/12/2021 18:21

There is some more in the RNS on the use of proceeds.

From the RNS:

Rationale for the Fundraising and Use of Fundraising Proceeds

Following completion in June 2021 of the acquisition of the remaining 50% of the Project that it did not already own, the Company has been working to refine the Project and identify the areas that require further development to optimise the Project and move it towards being construction-ready. The main uses of the Fundraising Proceeds will therefore be as follows:

-- Drilling - exploration drilling on the Falkenhain licence to test historic drilling and determine the potential to expand the total project size and resource. In addition, infill drilling on the Zinnwald licence to refine the operational mine plan and potential increased mining rate.

-- Testwork and value optimisation - refinement of the lithium hydroxide flow sheet; assess new methods to optimise the bulk ore sorting and screening process; assess the potential for viable tin recovery; explore opportunities to utilise existing local infrastructure; and advance the operational and environmental permits required.

-- Working capital and general corporate purposes - land and property purchases in the area, and general corporate and administrative costs.