well, that's what I took out of it.Hopefully the funding for the pilot plant sees a swift move to commercial production.
Mitsui, ABB, Morgan Stanley mentioned alreadyand after the pilot plant
Strategic Partnering to Unlock Talga’s Potential and De-risk Development
• Formal process to find a minority partner for the development of its integrated supply of graphite anodes
and the tricky bit ...As the SPP is not underwritten, the SPP may raise more or less than this amount. If the SPP raises more than A$10 million, Talga may decide in its absolute discretion to accept applications (in whole or in part) that result in the SPP raising more than A$10 million.
If Talga decides to conduct any scale back of applications ....[it] will be applied to the extent and in the manner Talga sees fit, which may include taking into account a number of factors such as the size of an applicant's shareholding at the record date, the extent to which the applicant has sold or purchased shares since the record date, whether the applicant has multiple registered holdings, the date on which the application was made and the total applications received from eligible shareholders.
buying interest is back, now at 39c premium to $1.45 SPP .... wonder how much it will be scaled back, or if they close early?
(I went the full $30K before Xmas)
View attachment 117696
The SPP, targeting A$10 million, was heavily oversubscribed with eligible applications received for A$53.5 million at the issue price of A$1.45 per share. Talga received 3,991 applications, representing a participation level of ~53% of eligible shareholders
The strong demand from eligible shareholders necessitates a significant scale-back of SPP applications. Scale backs have been applied using a range of factors outlined in the SPP Offer Document including trading activity since the SPP Record Date and metrics to reward longer-term shareholders.
The way I read it, everyone will have some scaleback, LT holders may do better than others (moi !), traders / wanna-be stags will get squeezed. No-one will be completely happy.Indeed ! Certainly the time and opportunity to fast track the development funds for their projects.
Scale backs have been applied using a range of factors outlined in the SPP Offer Document including trading activity since the SPP Record Date and metrics to reward longer-term shareholders. Talga Directors eligible to participate in the offer have all applied for the maximum SPP entitlement and have been scaled back using the same factors.
SPP shares issued; I put in for $30K, got 15,932 which will cost $23,101.40 (same as 3 Directors). Refund not in bank yet.
- SPP shares are expected to be issued on Wednesday, 27 January 2021 and commence trading on the ASX on Thursday, 28 January 2021.
- A total of 20,722,065 million new fully-paid ordinary shares will be issued, representing approximately 7.3% of Talga’s ordinary shares on issue..
- Refund Process; payment of refunds for scaled back applications, as well as invalid applications, is expected to commence on Monday, 25 Jan 2021.
The way I read it, everyone will have some scaleback, LT holders may do better than others (moi !), traders / wanna-be stags will get squeezed. No-one will be completely happy.
Perhaps Smevig decided that at the price it got it was a very good time to sell.Perhaps it got ahead of itself. 2023 until a real producer of note. Smedvig dropping their holding doesn't help.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?