Alita Resources    Last:0.078   -

Alliance Mineral the next Blue Chip - TP 1.50

More like goodbye call

 

If they issue right issue will investors buy the issue ?...last time many brokering house said good buy call .....

sheerluck      ( Date: 29-Aug-2019 15:37) Posted: Maybe still got hope?  Galaxy took over debt now just need to pump in more money....unless they want shareholder to open pocket.......probaly raise about $200 mil can liao.  Can last for a year.

 

Another one bite the dust 

 

UPDATE ON LOAN FACILITY AND APPOINTMENT OF RECEIVERS AND MANAGERS

Alita Resources Limited (administrators appointed) (receivers and managers appointed) (ASX: A40 SGX: 40F) (Company) refers to its announcements on 18 August 2019, 21 August 2019, 26 August 2019 and 29 August 2019, regarding the secured A$40 million loan facility (Facility), now with Galaxy Resources Limited (Lender) . The Company received a notice of default from the Lender on 29 August 2019 as a result of the appointment of Administrators on 28 August 2019 (refer to announcement dated 29 August 2019). Following the event of default, the Lender declared that all moneys owing under the Facility including interest are immediately due and payable. The Lender has also on 29 August 2019 appointed receivers and managers (refer to the attached announcement). The Company will make further announcements when there are material developments

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Must be the joke of the century.  I thought Galaxy will support Alita but becos Alita act smart appoint administrator, Galaxy tulan and now wants their money back.  This time Alite really can close shop.  Wonderful mgmt.  Pocketed huge pay now just let Alita rots.  Those who think this mgmt deserves their pay cheque have to think again.

sheerluck      ( Date: 29-Aug-2019 15:37) Posted: Maybe still got hope?  Galaxy took over debt now just need to pump in more money....unless they want shareholder to open pocket.......probaly raise about $200 mil can liao.  Can last for a year.

 

Maybe still got hope?  Galaxy took over debt now just need to pump in more money....unless they want shareholder to open pocket.......probaly raise about $200 mil can liao.  Can last for a year.

 

so many corporate actions, in the end for what...

goodbye

 

They need the real ALITA BATTLE ANGEL 💪

 

Jialat

got so serious meh

guavaMoment      ( Date: 29-Aug-2019 11:20) Posted: Insolvent. Administrators called in. Gone case. https://links.sgx.com/1.0.0/corporate-announcements/WTB6KEX6A3UPG2QQ/Appointment%20of%20Administrators.pdf

 

Think this investor lose big time this time.  This Alita still got hope?

laksaman57      ( Date: 29-Aug-2019 13:23) Posted: https://www.google.com/amp/s/sgbojio.wordpress.com/2019/03/06/alliance-mineral-how-much-more-patience-do-i-need/amp/

 

https://www.google.com/amp/s/sgbojio.wordpress.com/2019/03/06/alliance-mineral-how-much-more-patience-do-i-need/amp/

 

Just one year ago.

"...former CEO Tjandra Adi Pramoko and his spouse, former executive director Suen Sze Man, had on June 1 sold 37 million shares at an average price of 34 Singapore cents apiece. The disposal pared the couple's deemed stake in the company to 0.02 per cent from 5.87 per cent."

 

Mr Pramoko and Ms Suen can't stop laughing 😂

 

Surprised but not shock.  Like that the 3 Sep resume trading will be postponed liao.  Good luck to those vested.....

 

Insolvent. Administrators called in. Gone case.

https://links.sgx.com/1.0.0/corporate-announcements/WTB6KEX6A3UPG2QQ/Appointment%20of%20Administrators.pdf

 

Hmmmm

Wonder how it will impact Alita store.

 

 

China&rsquo s J& R terminates Li offtake agreement with Altura

China' s Shaanxi J& R Optimum Energy has terminated its lithium offtake agreement with Australia-based lithium producer Altura Mining amid tight finances and operational difficulties.

The two firms in July 2017 signed an offtake agreement that J& R will underwrite at least 100,000 dry metric tonnes (dmt)/yr of lithium concentrate grading 6pc lithium oxide, with a minimum period of five years. Prices in the first three years were in a range of $550-950/dmt. The agreement was updated in November last year to at least 50,000 dmt/yr of lithium concentrate grading 6pc lithium oxide during 2019-24.

Altura expects to  increase its output  of lithium concentrate to 45,000 wet metric tonnes (wmt) during July-September from 42,402wmt for April-June.

J& R in June sold a 11.83pc share in Altura to  Shanshan' s wholly-owned subsidiary Shanshan Forever International  for 120mn yuan ($17.5mn).

The Chinese government  tightened its control  on new electric vehicle (NEV) subsidies this year, which has slowed the development speed of the NEV market.

China' s automotive manufacturers association has lowered its forecast for domestic NEV sales to 1.5mn for 2019. The country produced 701,000 NEVs during January-July, up by 39pc from a year earlier, while sales rose by 41pc to 699,000 units.

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Another termiantion of lithium offtake.  We Chinese really shrewd businessman.  Control the demand to influence the supply and pricing.


 

 

https://www.asx.com.au/asxpdf/20190827/pdf/447x3wtqwgx7zz.pdf

laksaman57      ( Date: 23-Aug-2019 15:54) Posted: https://walletinvestor.com/forex-forecast/sgd-aud-prediction "...SGD/AUD rate equal to 1.067 at 2019-08-23 (today's range: 1.067 - 1.068). Based on our forecasts, a long-term increase is expected, the Forex rate prognosis for 2024-08-17 is 1.352. "

 

https://walletinvestor.com/forex-forecast/sgd-aud-prediction

"...SGD/AUD rate equal to 1.067 at 2019-08-23 (today's range: 1.067 - 1.068). Based on our forecasts, a long-term increase is expected, the Forex rate prognosis for 2024-08-17 is 1.352. "

 

https://www.miningweekly.com/article/avalanche-of-new-supply-to-keep-lithium-prices-in-single-digits-cru-2019-08-21

" Avalanche of new supply to keep lithium prices in single digits .....analysts say that the &ldquo hype&rdquo has met &ldquo reality&rdquo , noting that lithium prices have crashed through the $10/kg LCE mark at the end of July, owing to plentiful supply."

 

https://www.businesstimes.com.sg/companies-markets/alita-resources-sold-lithium-concentrate-below-floor-price-amid-challenging

" ALITA Resources said it had on Monday completed a shipment to buyer Jiangxi Bao Jiang Lithium Industrial Limited for around 10,500 dry metric tonnes (dmt) of lithium concentrate at a price below the previously announced floor of US$680 per dmt."