Ann: AMMG Targeting 3,000TPA High Purity Alumina (HPA) Production, page-12

so you have more to sell, since your position is 'held'

I understand your sentiment

yesterday, my immediate impression of the announcement was it was negative, since it gave the impression they had no luck finding funding for the 700tpa pilot plant

but after I stuck some numbers in my spreadsheet, I could see the rationale for getting serious, particularly given Orbite's capex, the last time I looked, has blown out, badly

I doubt Iggy Tan would be interested in building the 700tpa Tonka Toy

if AKA can build a 3,000tpa plant for under $50M capex then they are doing exceptionally well

the concern is capital raising for the BFS, which would cost around $5M I guess (definitely no more than $10m, for such small capex)

if they raise $7.5M over the next 12 months at 10 cents per share, at least, then there remains massive upside, imo, $1 at least long term

any capital raising under 10 cents would be very disappointing, because, imo, potential on this project does not necessitate diluting the share register massively. hopefully, it is not that desperate

still only 108M shares on issue, options are out of the money. at 8 cents, market cap is only $8.6M

the positive is a serious investor/institutional placement at 10+ cents. Iggy must sell this to some serious investor

the danger is a low Aussie broker placement, since shareholders may be diluted, since a pro-rata SPP is not possible due to the large dormant shareholders

for believers, they could try a up to $15K SPP but I doubt that would gain traction

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