REMINDER: Our user survey closes on Friday, please submit your responses here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I agree, @jdt1990, that the RNS is dropping within the next day or so as, like you say, it is price sensitive information so will be released 'as soon as reasonably possible'.
But like I said, from my personal experience in the corporate world, big deals don't complete early. Both teams will be finalising and it's likely that the funding partner will be deliberating on the final signature until the actual deadline which will be end-of-play today.
If an extension was needed or the deal fell through, we'd have receive an RNS stating so.
Also, seeing as the SP is holding pretty firm right now, I'm even more inclined to say that I'm probably correct in my assumptions....
s223pho - they go hand in hand, it's price sensitive information so as soon "as soon as is reasonably possible" it should be released to the market. I agree it doesn't necessarily have to be today, tomorrow would still be "on time". However, I think peoples issue is that he quite openly made comments in interviews a while back that the deal was basically done. So to that end, a lot of people would have expected this not to go down to the wire given the positive tones.
"Following a significant increase in interest from possible funders and an extensive site visit by the JV-management and technical team, the Company is pleased to announce that the JV partners have agreed a strategy and associated deadlines for securing Project financing. Katoro will look to complete the Project Financing on or before 30 September 2020, which will be sufficient to fund the construction and commissioning of a Beneficiation Plant and auxiliary operations.
With this revised timeframe the JV Partners believe there is sufficient time to duly entertain and properly consider preferred funding options/proposals from the potential funders they have received interest from and are in dialogue with, so as to secure the best possible financing option."
Reading that I don't see anywhere it says RNS will be released today. Just relax people. You've invested for a reason and if those reasons haven't changed then there's really nothing to do or say other than to wait for news to drop.
It's coming.
Take heart there has not been an excuse rns , the deal is coming today , tomorrow, but it will be done it’s to good of a thing for no one to interested ,
But LC didn't say to expect the RNS on the 30th did he? Just that the funding should be completed today, right?
I don't think I've ever seen a CEO give an RNS deadline before?
I think you're missing my point, destitute.
Just because an RNS wasn't released at 7am this morning stating who the funding partner is, doesn't mean that KAT has missed the 30th September deadline...
If I were a company putting up 35 million, or a company giving away a huge percentage of its resources, I would use every precious minute of my deadline to it's full to finalize the deal. I would be more surprised if the teams aren't viewing the deadline as this evening at end-of-play.
It would then be likely that both companies will be writing up their RNS's to be released at the SAME TIME.
I'm patiently holding my shares for the reward that I know is coming.
This was probably how I was a few years back - a bit wet behind the ears - but in my defence that was before LC had a track record.
Now LC has a track record so I guess you just haven’t done your research.
Agreed. The RNS can be whenever, as along as he has agreed the finance today. All to play for. In fact I am quite positive, otherwise he would have released another type of RNS which we do not want.
I agree I think that unfortunately some on here have built up the expectation that the RN will be on the 30th when that is not required
That is correct 'on or before the 30th'
And so what if it did drift a bit, deal will get done as the financials for Blyvoor are very good and an opportunity not to be missed.
If the deadline for funding is today, 30tj September. Wouldn't it make sense for the deadline to be Eop today so they have all the time to dot the Is and cross the Ts?
Even if the deadline for funding is EoP, will the RNS be instantly released. I would have expected the RNS to follow a day later or so.
I'm not worried at this point...keep holding, it's coming IMMINENTLY