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Yup! Lovely to see this go up!
time to end the pity party
But PI's keep falling for it jdt.
Agreed cunningfox LC is just a leech on any business he gets his hands on. As you say, pi*s enough people off in one business, spin off some assets into a new company, get existing investors to chase the “good” assets and rope in some new mugs.
Do all this while delivering nothing, taking a hefty salary and having zero skin in the game.
The man is an utter crook and expect nothing better from him.
However, I just thought it was worth a try and with KAT there are some slightly more “reputable” people involved the wider business which is why I am surprised he can play this game here.
Nothing to lose from my side -KIBO holding is basically worthless and breakeven here.
You're wasting your time jdt, since the MCPP fiasco, our esteemed leader has shown no regard for shareholders, he will not even engage with his TR1 shareholders. It's all fabrication, mistruths and empty promises just to keep each spin off asset ticking over, the gravy boats afloat and everything just out of reach of the retail investor.
7 years in Kibo and I bought the first shares traded in KAT , never sold any of either, mind you combined 44million shares worth 10% of their original value.
Well done JDT, if we don't get a response in very near term then we need to discuss how we're going to take further action. Enough is enough here, it's beyond a joke
I have also posted it in reply to their latest tweet which might get it out there.
https://twitter.com/KatoroGoldplc/status/1366664595415453696
If anyone is on twitter and wants to retweet, it might make them pay attention. No hiding out in the public domain.
Definitely send it, however you will get no response as I have been emailing for months. Send the email to all people at the bottom of the RNS. Might I also suggest you go old school and print it off and post it to them recorded delivery so there is no excuse on their part. It is appalling the way in which the handle things. None of their contact details work on either their presentations or their website
Very good letter and very reasonable , you should get a response as they have a duty to shareholders, but don’t hold you breath , so far I don’t know anyone who has been given a reply back by LC himself , I hope to be corrected thou
Doubt I will get a response but have sent this to LC and StBrides. I'm also sick of being treated like a mug, as a holder in both KAT and KIBO this man really grates on me.
Dear all,
Among numerous Katoro Gold shareholders, there is a growing frustration relating to the what seems to be endless process of closing the Blyvoor project funding.
Project financing was originally due in April 2020. Whilst Covid related delays are of course a factor, this deadline is now almost a year overdue. Even during the pandemic, timelines set by the company were repeatedly missed, something which is concerning. Mr Coetzee himself even stated in an interview "all is going well and on track with relation to Blyvoor" for the funding deadline to be pushed again only days later. How is this acceptable from a shareholder perspective?
The latest update shareholders received was in the Financing, Business Update and TVR RNS of 22nd Dec. I quote the below:
"The final draft versions of the SAMRAC CPR and SAMVAL valuation report referred to above, was received on 18 December 2020 and are now under review before the final version of said reports will be delivered."
We are now nearly 11 weeks on from those key reports being received, yet shareholders still await an update on progress. What is taking Katoro so long to get a deal over the line when there are so many "interested" parties? May I remind you, that as the project funding delays continue, there is no revenue to fund the fixed costs of the business. Katoro have already diluted shareholders twice via fund raises in this period whilst also issuing themselves (the board) share options.
I believe it is only fair that shareholders are given an update on progress and clear explanations as to the reasons for such lengthy delays. To which Covid cannot be the response. Which leads to my second point. Investor communication via Twitter, posting the same presentation which is now almost 9 months old is insufficient.
Regards
Jesus I like mushrooms but don't like being treated like one!
Come on LC some sort of update please!
GL.
(that's better)
This is from the June 2020 presentation:
https://katorogold.com/wp-content/uploads/2020/07/Katoro-Gold-Presentation-July-2020_Final.pdf
"•Net Present Value ('NPV5') of US$131million.
•A 25% Internal Rate of Return (and a Return on Investment of 260%.
•Significant upside – Financials calculated at USD 1500/Oz.
•All-in Sustaining Cost ('AISC') of US$727 per ounce of gold (25 years).
•Total estimated free cash flow of US$267.4m across the life of the Project."
If they had parties interested at $1500 - it's hardly going to have become unattractive at $1750.
Although their future forecasts are a bit off:
•Current : $1760
•2020 : $2153
•2021 : $2279
•2022 : $2368
•2023 : $2228
Of course it is to do with it. And not only the gold but most stocks went down
I wonder if the declining gold price is anything to do with it, no doubt lenders are starting to see it as a less lucrative venture although we are only back to levels that we were once at this time last year
In accordance with the Company's preferred funding strategy referred to in previous announcements on 21 July 2020, 3 September 2020 and 30 September 2020, the Company has received expressions of interest for funding of an amount significantly more than the peak funding requirement (US$36.4 million) announced on 7 May 2020. The expressions of interest for funding, amongst others, includes a formal non-binding term sheet for funding, which if agreed and accepted by the Blyvoor Joint Venture, will be sufficient to fund up to 40% of the peak funding requirement referred to above.
@Kaisharp - well I tried to help you out yesterday but couldn't even get a quote to sell so didn't have to make the choice to bite the bullet! This silence really is frustrating.
From the 22 December RNS; How long does it take to produce a final report (10 weeks later and counting.....)?
· The final draft versions of the SAMRAC CPR and SAMVAL valuation report referred to above, was received on 18 December 2020 and are now under review before the final version of said reports will be delivered.
Share price dropped below 2 , looks like no one is now convinced it will happen
In October/ November LC said everything on track , to be in March and nothing, is very poor imo
It’s almost like a bad news and it’s a no brainer really. Why would they keep posting on Twitter a presentation if a deal was found? Simple - because they don’t have a deal
Oh I thought we were over with this as they’ve stopped posting for a while... but now back again
If they were as busy delivering something tangible for shareholders as they are tweeting the same presentation that is nearly a year old we would all be a lot happier!
https://twitter.com/KatoroGoldplc/status/1366664595415453696
Seems fair!
*warned
I’m giving it to the next RNS. They will have to give an update in March one way or the other. Hopefully it’s some of the good news we’ve been waiting for. If it’s just another holding statement then Adios. I can’t say I’ve not been earned enough times over the past year!