With two sets of drill results to come this month (Haneti and Imweru) probably as early as next week I have topped up another 101,828 this morning and taken my holding to exactly 1 % of this company. Who knows of course what the drill results will actually bring us, however with a current Market Cap of £6.70m I don’t think we will be disappointed. When you look at the assets in hand at this company (granted these need to be firmed up via a compliant JORC, etc) I just don’t see where I can go wrong as long as I hold for the long term, no company debt and can find funding via the market via placings easily (i.e. no need for that SEDA garbage). Good times ahead. JD
oh yeah, but these guys have been ramping for 6 weeks now.
Ridiculous for some on here to think it good news that a major player in the world nickel market is abandoning one of Kibo's white hopes.
Would agree, on balance good news. Shame to lose the funding commitment but Votorantim have seemingly taken a strategic step away from Southern Africa probably ending other investments or plans at the same time. You can see the strategic nature of this by the way the opt out occurred before all the results were in. This wasn't a project specific decision. Have a feeling this could swing quite monumentally in kibos favour. KIBO were looking for nickel sulphides, and a good deposit can be a company maker, so the work paid for in 2013 by their partner would have accelerated their knowledge. If they have found some interesting stuff, having 100% is a major plus! and with nickel sulphide potential I have no concerns that they could find another partner if they wanted one.
Good news IMHO. They will still work their way to a JORC Compliant Resource only it will be 100% owned by KIBO this time. As Modsa points out with Nickle and Gold doing some funny things on the markets of late there is no rush to move into production, so getting a JORC Compliant Resource is the first and most important thing here. Once they get that then they can farm in another partner at better rates / terms. Drill Results to come out late this year so with one Gold and one Gold / Nickle Project to release results there is some very exiting times ahead conisdering the Market Cap here is only £6m / £7m. The market will wake up to how shocklingly undervalued this is, only a short matter of time IMHO. JD
On balance good news as the low gold price gives no incentive to rush into production, and the company has saved money!
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