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https://www.metalbulletin.com/Article/3833850/GLOBAL-LITHIUM-WRAP-Chinas-battery-grade-lithium-carbonate-prices-extend-loss.html
Ok this is EGM notes taken by luanboo which i copy from Taw on hotcopper.
Here's a summary of what happened at EGM.
1. The EGM went straight into voting without any questions. 3 resolutions were swiftly voted through. 99.53% voted FOR Ordinary Resolution 1 (in favour of the merger).92.80% voted FOR Ordinary Resolution 2 (in favour of the proposed Merged Board Director Fees). 99.41% voted FOR Special Resolution 1 (in favour of amendments to the constitution for dual listing. In essence, there's unanimous support (and almost no doubt) for the merger to proceed and AMAL shareholders wanted dual listing on both SGX and ASX.
2. Questions started to flow after the voting got out of the way. As for the latest announcement, we were assured by the Alliance board that they are still fully committed to ensure that the ASX listing do happen as soon as possible. AMAL shareholders once again emphasized their desire to have AMAL listed on ASX. The curveball (as announced) was unexpected as there are many cases of junior mining companies on ASX with going concern flagged but did not affect their listing submission. As for the timing of announcement (ie a few days before the EGM), they had no choice, they had to make the announcement, as soon as they receive the information from ASX.
3. None of the TAW board members were present in the EGM yesterday (which was a surprise to me since Mark Calderwood and Mark Turner was in town recently to engage and answer shareholder's questions on merger). Also, Tawana is currently on trading halt. Hence, nothing much can be revealed during the EGM beyond what's was announced. What I was told (in the post EGM chatters) is that the debt financing solution (in the form of credit facility) had been finalised and TAW board will get the answers out to shareholders soon. Also the major shareholders had given their feedbacks to the management regarding the listing on ASX, dual listing should be back on track, with some delay though. Personally, I believe the management will address the issue in the upcoming announcement.
4. As for the shipments, we were told that they were struggling with shipping availability issue. Contractually, there are binding commitments on both sides (with penalty) to deliver and take shipments on a regular basis (ie. monthly with some leeway up to 45 days). I was told that there will be a shipment soon (again no specific date committed).
@@@@@ so there are no shipment for september as yet....it could be the stocks at burwill is full...and their lithium plant is not running at full capacity yet... therefore no storage? Could be...my guess
Or burwill having cash flow issue? Which is unlikely though..
Now accordingly to what i know ASX has a note on tawana regarding emphasis of matter and this affected the listing on ASX.
The main reasons is that the newly merge entity has no track record of generating profit therefore it has concern whether the company would continue to operate as a ''going concern''.
But as we know alliance is a newly lithium producer and has strong Off takers and backers..... it might probably need 1 to 2 qtr to prove its cash flow...hopefully soon
So according to mark DMS 2 suppose to start asap.... but it seems DMS 2 has been postphone...and fine circuit installation is due end of year? I donno....
So current valuation of about 300m combine market cap is kind of fair atm....for running 1 DMS....
My view on alliance is HOLD....
Here's a summary of what happened at EGM.
1. The EGM went straight into voting without any questions. 3 resolutions were swiftly voted through. 99.53% voted FOR Ordinary Resolution 1 (in favour of the merger).92.80% voted FOR Ordinary Resolution 2 (in favour of the proposed Merged Board Director Fees). 99.41% voted FOR Special Resolution 1 (in favour of amendments to the constitution for dual listing. In essence, there's unanimous support (and almost no doubt) for the merger to proceed and AMAL shareholders wanted dual listing on both SGX and ASX.
2. Questions started to flow after the voting got out of the way. As for the latest announcement, we were assured by the Alliance board that they are still fully committed to ensure that the ASX listing do happen as soon as possible. AMAL shareholders once again emphasized their desire to have AMAL listed on ASX. The curveball (as announced) was unexpected as there are many cases of junior mining companies on ASX with going concern flagged but did not affect their listing submission. As for the timing of announcement (ie a few days before the EGM), they had no choice, they had to make the announcement, as soon as they receive the information from ASX.
3. None of the TAW board members were present in the EGM yesterday (which was a surprise to me since Mark Calderwood and Mark Turner was in town recently to engage and answer shareholder's questions on merger). Also, Tawana is currently on trading halt. Hence, nothing much can be revealed during the EGM beyond what's was announced. What I was told (in the post EGM chatters) is that the debt financing solution (in the form of credit facility) had been finalised and TAW board will get the answers out to shareholders soon. Also the major shareholders had given their feedbacks to the management regarding the listing on ASX, dual listing should be back on track, with some delay though. Personally, I believe the management will address the issue in the upcoming announcement.
4. As for the shipments, we were told that they were struggling with shipping availability issue. Contractually, there are binding commitments on both sides (with penalty) to deliver and take shipments on a regular basis (ie. monthly with some leeway up to 45 days). I was told that there will be a shipment soon (again no specific date committed).
@@@@@ so there are no shipment for september as yet....it could be the stocks at burwill is full...and their lithium plant is not running at full capacity yet... therefore no storage? Could be...my guess
Or burwill having cash flow issue? Which is unlikely though..
Now accordingly to what i know ASX has a note on tawana regarding emphasis of matter and this affected the listing on ASX.
The main reasons is that the newly merge entity has no track record of generating profit therefore it has concern whether the company would continue to operate as a ''going concern''.
But as we know alliance is a newly lithium producer and has strong Off takers and backers..... it might probably need 1 to 2 qtr to prove its cash flow...hopefully soon
So according to mark DMS 2 suppose to start asap.... but it seems DMS 2 has been postphone...and fine circuit installation is due end of year? I donno....
So current valuation of about 300m combine market cap is kind of fair atm....for running 1 DMS....
My view on alliance is HOLD....
Hopefully wont halt too long
risktaker ( Date: 21-Sep-2018 16:16) Posted:
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Dont worry the share slide..... we will likely be looking at 50c next year this time... provided market dont crash....
China just release news regarding suppprting EV industry.... and siao compliance go halt the share due to EGM ... LOL
If not today will be 28c liao
China just release news regarding suppprting EV industry.... and siao compliance go halt the share due to EGM ... LOL
If not today will be 28c liao
I thought you waiting 20 cents
risktaker ( Date: 21-Sep-2018 12:21) Posted:
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Pain.... didnt get 25c....T.T
Spotted HDB car park with charging points.... looks like changes is coming
Alliance looking good... :) double bottom...
Woot... friend sold galaxy @ 2.60 enter @ 2.42.... nice profit for 3 days trade
Will it hit 20c? We will find out soon... :)
Btw is this stock still under restriction? Aussie holders didnt know this i think....
"When it comes to production costs, Chile?s average per tonne comes in at $1,800, far below that of Australia where average lithium production costs are at $5,000 per tonne.
http://www.mining.com/lithium-power-closer-start-mining-lithium-chiles-maricunga/
http://www.mining.com/lithium-power-closer-start-mining-lithium-chiles-maricunga/
So disappointed... its likely the next shipment to burwill is 3.3kton.... what happen to the 12kton per month...
Faint
Faint
Seller too weak.... i see fake selling only
Thi654321ABCDEF ( Date: 20-Sep-2018 13:26) Posted:
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NOT YET , VERY FAR FROM HERE
Pretty strong suppprt @ 25.... tested twice n rebound
So much noise here, those who are vested, hold on tight.. coming to the end of the tunnel soon.
Think recent shipmemt only 5500t.... hope theres another shipment soon... FR hopefully ok
Think.... whole coy is in a mess... donno whats going on now.... 2nd DMS no news... like not happening...
Aussie side tawana lose confident and will dump the share once resume trading.... i guess some would hold till merger to get the extra 10% to dump it on alliance.... since asx no more .... sgx alliance will be under heavy selling pressure...
Gg
Aussie side tawana lose confident and will dump the share once resume trading.... i guess some would hold till merger to get the extra 10% to dump it on alliance.... since asx no more .... sgx alliance will be under heavy selling pressure...
Gg
REVENUE , ASSESSETS NO USE , BB USEFULL