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Indeed & unless the SP improves considerably after issue realising a loss eh considering that we paid cash & shares equal to £500k for 24% plus whatever to get us the additional % we now have... they also get the Argentine assets ...not that they proved overly successful ..... remember all your hype & calculations for those eh Obs LoL
@Bannor, I was on about the working capital for Dev not CCZ.
On CCZ: we would stand to gain 29% (currently) of 1m-3m AUD in CCZ shares depending on drilling results. A minimum of ~£145k and maximum of around £440k.
I'd follow the published RNS's in black & white...
https://www.lse.co.uk/rns/KDNC/option-granted-to-castillo-to-acquire-projects-npvbz1a1rysbs2a.html
I'm not sure, clear as mud comes to mind. :-)
But here's it said by Kiran:
https://youtu.be/wZNJua-kYM4?t=452
Yes bannor, apologies for the A$3m thing, I got that wrong.
Didn't I just say that!!! .... & the money we loaned them was generated as the result of a placing here...
It has already been mentioned by Kiran that we have loaned money to Dev which funded the initial start-up costs for the first shipments, some has come from the courts but not all of it and what we have put in already will be credited against the $3.5m for the 27%.
Apols for repetition & syntax on a very small phone with a very small text window....
Morning most :-)
To be clear we do not have A$3M coming in from CCZ we have ~29% of A$3M in share payments 'potentially' coming in in shares in CCZ that will come in lots of 29% of A$1M on the passing of various milestones .... they also come with a lock in period so I don't think will be of any use in relation to the US$3.5M (partially offset by the outstanding loan) for the additional for additional 7% .....
As far as I'm aware everything so far will have been paid out of the court sanctioned shipments, loan & payments received for organising/shipping Geralds ore .... it's not beyond the realms of possibility that some goodwill is being exercised to get the project established (unlikely as I think
that is) but our US$2.5M still sits in an escrowed account until we release it....
Once we have our 20% confirmed the market will react ..... how much remains to be seen....
It would be very nice if they could all get on with it now and complete. Hopefully the outstanding KYC/AML stuff is quick and routine, and otherwise the talk is bullish and about "finalisation" of documentation, so it does look well progressed and..er..imminent. Needs to get over the line though in the next few weeks. Perhaps by 5 Nov so we've got another reason to set the fireworks off?! imo. glalth.
what do you mean ev… everything we can see on those photos/drone footage… is the direct result of kdnc funding the initial project mobilisation costs… wow… would you credit it hey…
We have already spent/lent money to Dev so we don't actually need to raise the full $3.5m amount for the extra 7%.
Who knows what deals are being done on the other Lithium assets.
Thanks Evans!
They have A$3m coming from CCZ and have £13m in shares in EMH.
So the 20% has already been taken into account as the funds are already in escrow, however, do we have any visibility as to where the funds will be coming from for the optional 7% (I presume this will be the case) and naturally the PFS-DFS/Full operational build-out?
I too, see that there are many catalysts here to take KDNC prices higher (not to mention the other projects), but I am trying to get foresee any negatives that will produce a pump'n'dump i.e. dilution, macro etc.
lol @EV. Seems the market refuses to believe it's finally happening until it actually sees us owning 20% of the project. OK, me and you believe this could land this week, today even, but going by the current share price the majority have longer timescales in mind, and going by how long the hurdle we crossed last week took they could very well be right! But I seriously doubt it... ;-)
The market has mostly missed the fact that the prior RNS was the big news and the rest of it is a formality now it's approved by the creditors.
I expect when the 20% is officially confirmed we will see another big move and I expect 27% news to arrive soon after giving another lift.
I think if/when the good news arrives there will be a sharp spike in the share price judging by the comments on this board, many are already long term holders who’s aim is just to get out with a profit, so if that happens it will be another buying opportunity before the share really takes off
Why do you suspect it to rally hard next week? Just going on the timeline of a couple of weeks to get rubber stamped?
I find it astonishing that you can buy these cheaper than the level before the chart broke down given the news we’ve had this week. Should be double the current level on what we know already, higher when the payment for the 20% is made. Wider mkt much better. Am expecting this to rally hard next week.