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I second that. Spread the news outs. Then compounded interests.
luanboo ( Date: 04-Oct-2017 21:01) Posted:
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Where are those naysayers who tried very hard to question whether there are really lithium at Baldhill?
Will listed companies like Burwill throw $20m into the ring not knowing whether everything/everyone involved was fake?
Will listed companies like Burwill throw $20m into the ring not knowing whether everything/everyone involved was fake?
I am hoping the resource upgrade announcements comes next week instead.
Spread the news out so that there are sustainable momentum for the SP to moves.... hahaha - as if we can control the newsflow...
In any case, I believe Burwill has access to published information on the additional resources and this news on their investment into AMAL will give the market confidence that upcoming resource upgrade would be good. Having institutional investors shows that AMAL is moving onto the next stage of organisational growth. Looking forward to trading resume tomorrow.
Spread the news out so that there are sustainable momentum for the SP to moves.... hahaha - as if we can control the newsflow...
In any case, I believe Burwill has access to published information on the additional resources and this news on their investment into AMAL will give the market confidence that upcoming resource upgrade would be good. Having institutional investors shows that AMAL is moving onto the next stage of organisational growth. Looking forward to trading resume tomorrow.
IMO.Come next year this time... we should be having significant gains in our investment in AMAL if everything is going according to the roadmaps set out.
Next critical milestone is the Resource and Reserve update announcement by TAW- Tomorrow??
Keep our fingers crossed.
Next critical milestone is the Resource and Reserve update announcement by TAW- Tomorrow??
Keep our fingers crossed.
RedEye1811 ( Date: 04-Oct-2017 20:27) Posted:
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There is definitely prize for guessing it right.
So the news is out. Whether halt lifted or turn into suspension is secondary.
Now who started this rumour...come and claim credit.
So the news is out. Whether halt lifted or turn into suspension is secondary.
Now who started this rumour...come and claim credit.
amlithiumpower ( Date: 04-Oct-2017 19:04) Posted:
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My view is it is in their best interests to make the announcement before start of trade tomorrow and to avoid suspension/extension of TH. But let us see.
Atom99 ( Date: 04-Oct-2017 20:21) Posted:
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Sponsor not approve how they lift trading halt... burwill just sign the deal today... so sponsor may recieve the content tmr...becos they had to vet lol so lan lan
Atom99 ( Date: 04-Oct-2017 20:21) Posted:
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IMO.AMAL should be making an announcement tomorrow morning before SGX opening trading session .
RedEye1811 ( Date: 04-Oct-2017 20:16) Posted:
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If my understanding SGX regulations correct, AMAL can ask for an extension of the TH rather than request for suspension if there are exceptional circumstances. Could apply here so may not be suspension but extension of TH. But I may be wrong on that rule.
risktaker ( Date: 04-Oct-2017 20:14) Posted:
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99.9% suspended la.... Sponsor not around LOL or they need more time to vet thru the documents
ZeroByDivide ( Date: 04-Oct-2017 20:00) Posted:
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Do you think Alliance Mineral will lift the trading halt tomorrow?
On that front, I think all 3 counters SP (Am, Tawana and Burwill) will move in the same aligned direction.
Ha... Guess CEO would need that resource upgrade to burst the taboo of 50c by 24 Oct 17. Ha...
Ha... Guess CEO would need that resource upgrade to burst the taboo of 50c by 24 Oct 17. Ha...
Alvin2042 ( Date: 04-Oct-2017 19:47) Posted:
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I agree this should be straight forward and should be out tonight or first thing in morning. But with AMAL and sponsor could be a guess. But my bigger concern on long suspension will be the upgrade. That I hope they get through quickly.
Alvin2042 ( Date: 04-Oct-2017 19:47) Posted:
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If this time they play patterns again, I think AM will seriously consider changing sponsor. Maybe just find Canaccord to do better also.
risktaker ( Date: 04-Oct-2017 19:43) Posted:
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DISCLOSABLE TRANSACTION
SUBSCRIPTION FOR SHARES IN
ALLIANCE MINERAL ASSETS LIMITED
THE SUBSCRIPTION
The Board is pleased to announce that on 4 October 2017 (after trading hours), BCL
entered into the Subscription Agreement with AMAL pursuant to which BCL has
agreed to subscribe for or procure its nominee(s) to subscribe for and AMAL has agreed
to allot and issue the Subscription Shares for the Subscription Price. The Subscription
Shares represent approximately 15.56% of the issued share capital of AMAL as at the
date of the Subscription Agreement and are expected to represent approximately
13.47% of the issued share capital of AMAL as enlarged by the Subscription Shares.
AMAL, a company incorporated in Australia and admitted to the official list of the
SGX-ST, is a mining corporation which develops and exploits lithium and tantalum
resources as well as related products. It holds mining rights in the Bald Hill tantalum
and lithium mine in Western Australia in which entitles to 50% rights to lithium
minerals. BCL had entered into the Offtake Agreement with AMAL for exclusive
selling rights to lithium concentrate for a five year term and pre-emptive rights to the
same for subsequent five years.
LISTING RULES IMPLICATIONS
As the applicable percentage ratios in respect of the Subscription exceed 5% but less
than 25%, the Subscription constitutes a disclosable transaction for the Company and
accordingly, is subject to the reporting and announcement requirements under Chapter
14 of the Listing Rules.
THE SUBSCRIPTION AGREEMENT
Subscription
The Board is pleased to announce that on 4 October 2017 (after trading hours), BCL
entered into the Subscription Agreement with AMAL pursuant to which BCL has
agreed to subscribe for or procure its nominee(s) to subscribe for and AMAL has agreed
to allot and issue the Subscription Shares for the Subscription Price.
2
To the best of the directors' knowledge, information and believe having made all
reasonable enquiry, AMAL is neither a connected person of the Company nor an
associate of any connected person of the Company.
Subscription Shares
Subject to the terms and conditions of the Subscription Agreement, the Subscription
Shares represent approximately 15.56% of the issued share capital of AMAL as at the
date of the Subscription Agreement and are expected to represent approximately
13.47% of the issued share capital of AMAL as enlarged by the Subscription Shares.
The Subscription Shares shall be issued and allotted by AMAL to BCL (and/or its
nominees) free from all claims, charges, liens and other encumbrances whatsoever and
the Subscription Shares, shall be freely transferable and rank pari passu in all respects
with and carry all rights similar to existing AMAL shares.
The Consideration
74,810,228 Subscription Shares for a total of the Subscription Price of AUD19,575,000
shall be paid in stages. Out of the Subscription Price of AUD19,575,000,
AUD4,375,000 of the Subscription Price was paid on 30 September 2017 in lieu of the
final payment of the advance payment under the Offtake Agreement and the advance
payment under the Offtake Agreement will be correspondingly reduced.
The Subscription Price of AUD19,575,000 equivalent to approximately SGD20,833,672,
which represents SGD0.278 per Subscription Share, was arrived at after arm&rsquo s length
negotiation between AMAL and BCL, and represents a discount of approximately
6.46% to the volume weighted average price of SGD0.2972 per AMAL share for trades
done on AMAL shares on the SGX-ST for the full market day falling on 29 September
2017, being the last trading date of AMAL shares before signing of the Subscription
Agreement.
The payment for the Subscription Price will be funded by internal resources of the
Group.
Conditions
Completion, among others, is subject to the satisfaction or waiver (where applicable) of
the following Conditions:
(a) the approval-in-principle for listing and quotation of the Subscription Shares on
the official list of the SGX-ST being obtained
(b) the share issue mandate(s) having been obtained from the shareholders at the
annual general meeting(s) of AMAL which shall be sufficient for AMAL to issue
at least the Subscription Shares and which shall be in full force and effect (and not
having been varied) as at the Closing Date
(c) trading in the Shares have not been suspended or ceased (other than trading halts
voluntary undertaken by AMAL) on the Closing Date and
(d) on the Closing Date, the issue and allotment of the Subscription Shares is not
prohibited by any relevant statute, order, rule or regulation (including the
Corporations Act) by any applicable legislative, executive or regulatory body or
authority.
3
Rights of BCL
AMAL shall appoint, and shall procure its board of directors to appoint, a candidate
nominated by BCL to AMAL&rsquo s board as an non-executive director of AMAL.
Termination
The Subscription Agreement may be terminated, at any time, by either:
(a) AMAL or BCL, if any of the Conditions above is not satisfied on or prior to the
relevant Closing Date
(b) BCL, if AMAL is in material breach of any provision of the Subscription
Agreement or has failed to perform and comply in any material respect with any
of the representations, warranties, undertakings and agreements referred to in the
Subscription Agreement on or prior to the Closing Date, or
(c) any material adverse change in the overall business or financial position of
AMAL and its group subsidiaries occurs during the period from the date of the
Subscription Agreement to the Closing Date, which was not previously known to
BCL,
provided that either AMAL or BCL (as the case may be) has given notice to the other
party setting out the relevant circumstances and stating an intention to terminate.
In the event the Subscription Agreement is terminated by AMAL or BCL (as the case
may be), the Subscription Agreement (save for the surviving clauses) shall terminate
and the obligations of AMAL to allot and issue the Subscription Shares and BCL to
subscribe for any Subscription Shares shall cease and determine thereafter, and no party
shall have any claim against the other Party for costs, expenses, damages, losses,
compensation or otherwise in respect of the Subscription by reason of such termination.
INFORMATION OF THE GROUP
The Company is a investment holding company. The Group is principally engaged in
international metal and lithium concentrate trading, processing and sales and mineral
resources investment. BCL is principally engaged in lithium concentrate procurement,
lithium carbonate processing and sales. BCL has exclusive selling rights to the lithium
concentrate flowing from the Bald Hill Project in Western Australia for a five year term
and pre-emptive rights to the same for subsequent five years meanwhile BCL has
cooperated with Jiangxi Jiangte Mining Development Co., Ltd. (江西江特矿业发展有
限公司) (&ldquo Jiangte Mining&rdquo ) for the formation of a joint venture company which is held
as to 50% by BCL and 50% by Jiangte Mining. Such joint venture company has already
started to establish production lines with annual production scale of up to 10,000 tons of
lithium carbonate and 5,000 tons of lithium hydroxide.
4
INFORMATION OF AMAL
AMAL, a company incorporated in Australia and admitted to the official list of the
SGX-ST, is a mining corporation which develops and exploits lithium and tantalum
resources as well as related products. It holds mining rights in the Bald Hill tantalum
and lithium mine in Western Australia in which entitles to 50% rights to lithium
minerals. BCL had entered into the Offtake Agreement with AMAL for exclusive
selling rights to lithium concentrate for a five year term and pre-emptive rights to the
same for subsequent five years.
As at 30 June 2017, the net assets of AMAL amounted to approximately AUD14.4
million. For the financial year ended 30 June 2016 and 2017, AMAL had no operating
income and recorded a loss after income tax of approximately AUD4.08 million and
AUD4.8 million respectively.
REASONS FOR AND BENEFITS OF THE SUBSCRIPTION
Lithium upstream resources are very scarce worldwide. As elementary materials for
new energy electric vehicles and other industries, there is huge market demand for
lithium resources. The Board believes that there is long-term good development
prospect for the lithium concentrates project at Bald Hill in Western Australia, which
will have lithium concentrates delivery in the first quarter of 2018. Through the
Subscription, the Company not only can secure its interests under the Offtake
Agreement, but also enjoy the increase in value of AMAL shares, which is in line with
the Company' s business strategy development direction.
The Directors consider that the Subscription Agreement has been entered into under
normal commercial terms which are fair and reasonable and in the interests of the
Company and the Shareholders as a whole.
LISTING RULES IMPLICATIONS
As the applicable percentage ratios in respect of the Subscription exceed 5% but less
than 25%, the Subscription constitutes a disclosable transaction for the Company and
accordingly, is subject to the reporting and announcement requirements under Chapter
14 of the Listing Rules.
This is straight forward deal. Should be ready by tomorrow morning. I have a feeling that the resource upgrade will have another suspension as the upgrade will be 300%.
risktaker ( Date: 04-Oct-2017 19:43) Posted:
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no....prime partners will take all its chance to whip alliances.... maybe this round the in charge not around they in china LOL ... i tell u guys sponsor issue u guys dont believe lol
amlithiumpower ( Date: 04-Oct-2017 19:37) Posted:
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Last year they hold it on 26 Oct 16 2pm by giving notice on 3 Oct 16. Venue: Safra Mount Faber Club Level 2, Crystal Room 1 2 Telok Blangah Way Singapore 098803
It would be fun if they hold it on 24 Oct this year. Ha...
It would be fun if they hold it on 24 Oct this year. Ha...
RedEye1811 ( Date: 04-Oct-2017 19:23) Posted:
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Maybe this time CEO got buy mooncakes for PrimePartners to work it out fast. Ha...
risktaker ( Date: 04-Oct-2017 19:32) Posted:
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no sponsor need more time leh... last time offtake they need 1 week... LOL
amlithiumpower ( Date: 04-Oct-2017 19:16) Posted:
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