This isnt correct. The announcement doesn't suggest that the 60m shares that will be issued to Locke are to cover the 15m loan. Otherwise that would be a straightforward issue and there wouldn't need to be all the other terms for repayment.Locke in at 38c a share, great deal for them, good deal for us. They’ll get amazing ROI at $1.5 $2 and we’ll get ourselves free. Wish there was more incentive for them to get an outcome at a higher share price. But our backs against the shitty mudbrick hut wall and our Chinese assailants have huge ccp supplied knives. Keep punching Nigel!!
Agreed.This isnt correct. The announcement doesn't suggest that the 60m shares that will be issued to Locke are to cover the 15m loan. Otherwise that would be a straightforward issue and there wouldn't need to be all the other terms for repayment.
It's only a part consideration, and it's highly likely that most if not all of the cash borrowed will still need to be paid back in cash too, and with interest, seperately to whats already provided. The equity just sweetens the deal. So we can't place any definined SP value against the 60m shares that's being handed across from Acuity - so cant say Locke got in at 38 cents nor 35 cents as someone mentioned above. Though we dont know the precise terms, we do know that these shares don't equate to and cover the 15m loan.
Ok i am going to let the cat out of the bag regards to Locke funding, intel i received out of the 20m received, BOD were hoping they could use 5m as working capital which clearly was a stumbling block cause Locke deals with litigation funding only hence the soph cap raise.I believe the Locke funding only covers legal costs. Corporate costs are excluded, which is possibly why there's a shortfall against the originally targeted sum.
AVZ still has to find a way to fund corporate costs, hence the recent convertible note raising (and presumably it was needed to be able to demonstrate to Locke that AVZ was still a going concern).
December 2026 is not that far away, especially in light of the timelines of other ICSID proceedings that we've heard about recently.
Hopefully management learn a lesson from all these last minute funding adventures and is already planning the strategy for the next round of funding come the end of the Locke deal. Or some of that temporary relief is paid out.
The stakes remain very high. One can only hope...
This makes senseOk i am going to let the cat out of the bag regards to Locke funding, intel i received BOD were hoping out of the 20m received, they were hoping they could use 5m as working capital which clearly was a stumbling block cause Locke funding deals with litigation funding only hence the soph cap raise.
So there is definitely still an issue regards to raising funds for working capital and it will be a question i will ask at the AGM.
YEPJust remember, deboss said "In my view, the Company is on the cusp of some significant wins and breakthroughs."
Locke is only the first significant win and breakthrough..... So let's see what happens....
Well it better push it up by more than 10% cos that's what it's costing us, minimumYEP, Locke deal is just to help push along and up the bidding process imo.
Glass half full:Well it better push it up by more than 10% cos that's what it's costing us, minimum![]()
Bennet or the coked out looking one?The Lawyer prick from last year is trying to go incognito - no suit
The slimy looking oneBennet or the coked out looking one?
Maybe he cant afford one this year?The Lawyer prick from last year is trying to go incognito - no suit
The slimy looking one
and send piccies of the strippers?Have a good time tonight lads and ladies, hoping for a play-by-play for those of us unable to make it![]()