Morella Corp Ltd (ALTAF)

[tikotiko]

I am truly sorry for all holders here. I sold all my shares about 2 months ago at a hefty loss and reinvested the funds in OROCF and LAC. I have not kept close track of ALTAF lately, but it looked promising last week when the company was trying to do a new capital raise to eliminate most of the debt. The resulting dilution was going to be quite massive and the SP would have likely sunk to the $0.03s or lower, but it was probably worth doing in order to finally get rid of massive debt at ridiculously high interest rates. In fact, I would have probably jumped back in in the $0.03s under this scenario, as I have done before. It is a shame, because management proved that they were producing one of the best quality spodumene in the market at low cost, but it could not deal with debt. I do think there will be new developments, because the product is in high demand by Chinese companies that need goos spodumene like Ganfeng. My take is that there will be an aggressive buyer, who will take over for a very low price like it happened with A40. My gut tells me that it is better to exit if you can.
Sad day...