Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video 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.
Did he resign or was he pushed?
Lets face it, Brad was worse than useless at his job, and basically wanted the lack of progress with KP2 to go on as long as possible so he could keep his ridiculously inflated salary.
He owned no shares, and if KP2 is eventually developed it would have meant nothing to him other than him losing his job and being replaced by a specialist CEO more experienced in running an active mine.
Good riddance in my view.
Could anybody shed some light on the ‘other business interests’ Brad is moving on to, so we know what to avoid in future?
It's a big con. How much has he taken in salary for achieving absolutely nothing?
From the Management Change RNS: "The Board and Management team of Kore Potash would like to thank Brad for his leadership and valuable contribution to the Company over the last 5 years. We wish Brad every success in the future."
Google's 5 year chart
https://www.google.com/finance/quote/KP2:LON?hl=en&window=5Y
Over 90% down and they thank him?
Obviously, today's the day to buy KP2 - not several years ago when I paid over 1p.
Looks like 0.38p. I wonder it say full amount going toawrds EPC which if the case means that another fund raise would be needed for keeping the lights on BOD lifestyles etc?
Also talking about another placing... at what price I wonder???
Well he clearly thinks/knows there's no more meat on the bone. Why leave just before a milestone of EPC and financing unless you know nothing is going to happen. I just hope the buyout price is at least 1.5p (my buy in price) I would be over the moon just to break even with this s**t show
Very interesting. on ASX, KP2 up 3 days in row. today trade is on ok volume as well (1.46m) with no news obviously.
while on UK market, price down slightly.
For me, I like that unlike all previous years, this time we have a clear timeline from SEPCO which KP2 has to pay for so should be adhere to.
It is also very important to have OIA and SQM taken up the new shares. both would have a whole team going through the numbers and information. so if they are willing to inject new fund, I will join them as well.
Going by schedule, the next cashflow report will be released soon. we will know how much cash got used. and most importantly whether new cash got injected. and how much left.
and before the next cashflow report in Jan24, EPC will be provided. all focus would be on Finance then.
Funding required from somewhere to keep the light on in Brad's small office/room,,, the 2 major holders haven't taken up any shares?, tells me it's close to lights out. As previously mentioned - there's no other coy on this earth who will commit $1.8b here therefore it will be there's for peanuts if they want it.
Apologies Mitch, it did show -15% earlier on a 1m sale?..
"0.53p !. Aside from any T/O KP2 won't move. Delist more likely here."
What new low Albi? The price finished unchanged - as it has for many days now. And the Delist claim is total rubbish too, as you well know.
0.53p !. Aside from any T/O KP2 won't move. Delist more likely here.
ZIOC's good news doesn't seem to have arrived up the Congo for KP2. Both remain binary bets but I had thought KP2 would beat ZIOC in the Jackpot Stakes. Only fear is how bad a deal will both companies agree to?
The sahres for SQM and OIA have been approved, but have not been issued yet (i.e. the vote was yes, but the new share total [3,577,417,120] does not include SQM and QIA shares).
Could someone confirm? from the meeting minute, look like SQM and OIA join the share issue?
Resolution 3 - Approval of securities issue to SQM
Resolution 4 - Approval of securities issue to OIA
I would get decent profit with 2.5p and I think a few here same as well. but I am just not sure how it could happen with other big holders like Dingyi as they paid much higher than that for their shares.
99 - Total current assets equate to 3.5p ps. Taking into account a 25% discount = 2.5p ps which is my take out price for the main players here.
ALBi - Institutional investors cannot buy these small illiquid stocks. But that will change dramatically if the Kola project goes ahead as planned. It will be the role of the brokers (3 of them !) to market the Kore shares to new investors.
I don't know much about ESG, but I suspect an African Potash company would be an ideal investment for ESG funds.
I cannot see any other way... There's no interest in this share (like many others on aim!). The listing seems pointless tbh.
I admit though , this is way undervalued considering the prospects. Should be an MC of £150 imo, hence my view is the main players taking full control for around 2.5 to 3p ps.
Minister of Mines Oba !!
Interesting. Warren Thompson, is a co-founder of Summit Africa, and is Accounting trained.
Previously, there has been mention of Hannes Soll who is also a co-founder of Summit Africa (RNS 27 April 2017).
https://summitafrica.com/team/
As for Minister of Mines Boya this can't hurt his political career !
The numbers 1.8 Billion and 4 years are the old ones, it remains to be seen what Power China comes up with. From the recent RNS (12 September 2023):
"PowerChina’s review has generated a number of potential design improvements to the Kola Project that identify potential opportunities to further reduce the capital cost and the construction schedule"
Today's Depeches de Brazzaville reports on the Minister of Mines Boya's visit to KP2's proposed plant site at Yanga.
Boya and his entourage of about 12, looking at some billboard pin-ups.
According to Warren Thompson, the project's financial manager, the overall cost of this project is estimated at
1.8 billion dollars. "We've really come to the the end of everything that had to be done and the actual start-up of the project is planned for 2024. The construction work will take four years...."
The minister's take ? For his part, the Minister pointed out that this visit was an important milestone. It represents
the culmination of a process during which there have been many twists and turns and tussles between the government
and its partners to the point where the government wanted to take the licence from this company. We issued formal notices, summonses, this company approched the minister, finally to ask for our clemency.
Our agreement was based on the various economic difficulties currently facing the world, so to raise the funds for a project of this scale, a world-class project, requires a lot of funds to develop it.
"Today, is a milestone that augurs a happy future for this project. We're very satisfied , because after
fifteen years, this company has just achieved a great deal with the support of other partner companies. The project is taking shape.
So I'm optimistic, while remaining vigilant," concluded the Minister.
Maybe not out of the woods yet...