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Nothing yet Joe, don't expect any useful information that's retained for his mates.
Six more months until finance is my prediction...
Has anyone found the now expected interview to go with the big announcement?
Hope BA doesn't feel its job done.
very helpful, thanks guys
Fastjet when do you think ML will be granted?
Just another point..... it was nice to see that the credit agreement has performed... to expectations.
The one thing everyone needs to take as a given (even if by some turn of events it doesnt happen) is that money taken out under this agreement is dilution. Technically it isn't, but in reality Kodal are at best without revenues until the end of 2021 and possibly into 2022. If all good things happen to us (MLA, OTA, finance for project) the share price will be significantly higher than .063 (plus the 10% interest) and the holders of the loan notes would be fools not to convert and cash them. Kodal will have no money to buy them back first..... it will help your sanity to just accept that.
The plus points .... imo
1. They have only taken half the allocation now. The dilution is 50% of what it could have been.
2. From a near to midterm term solvency perspective Kodal have a pot of money now to spend.... but also access to more if the milkman needs paying.
3. Kodal now have what all exploration companies need..... a little money to keep speculating with.
Whether this is good for us investors isn't whether the money suppliers are going to convert or sit and wait like little lapdogs to be paid..... its whether Bernard and crew are going to manage to generate value with it.
I dont think there is as much to talk about with regards to the funding as some might think..... i think the arguements/discussions are better aimed at what the money is being spent on.....
And BTW... we need to be given more information on this.
A deal is a deal - I suspect without the speculative upside of sp recovery the incentive to loan to companies in KOD position would be greatly reduced.
Regrettable bit it is what it is.
Convertible loan means loan convertible into shares my friend. Read the RNS:
---Convertibility
Each Advance and/or any interest due can be converted by the Investors into new ordinary shares of 0.03125p each in the Company ('Ordinary Shares') at any time at a price per Ordinary Share of the lower of:
i) a 30 per cent. premium to the 'Reference Price', being the five-day VWAP immediately prior to the drawdown of each Advance (the 'Fixed Conversion Price'), or 0.0634 pence for the First Advance; and
ii) 93 per cent. of the average of the three VWAPs (as chosen by the Investors) of Ordinary Shares during the 10 trading days immediately preceding the date of any conversion notice (the 'Variable Conversion Price').
---
Trust me, I know what I'm talking about I deal with these all the time.
It is warrant at primium. We don't know how many nor the primium. How can you call that deliution?
It's not just a loan ARahim. It's a dilution loan where the company can convert at a discount to the market price. Just look at ICON with that European Growth fund. 0.3p down to 0.1p and still billions to convert
UKOG had a convertible down to 0.2p, that got bought out in a placing then they doubled
Just look elsewhere and come back in six months time
Strong hold, a loan is a loan, what matters is the number of warrants and the premium.
Don't sell. Traders are all around ko d this morning. NL is comming.
What is not fair for existing share holders is the existing warrants. The loan is like any loan it can be payed. Why rv should benefit from sp recovery. We need to learn more on how many warrants are there.