Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Looks like a shake up of the Board and attempt at trimming costs, NW gone........
General chat going on here https://hotcopper.com.au/asx/dnk/
Interestingly this share seems to be popular in Germany, I guess as it was (is) on the Frankfurt exchange. Not really appreciated here.
https://seekingalpha.com/amp/article/4405273-danakali-why-this-little-known-potash-developer-is-buy?__twitter_impression=true
Ffs I knew I'd sell near that bottom.
(in all seriousness I've not done bad with the money I've pulled out and glad to see it's looking like having a decent shot)
Also keeping an eye on this especially if funding gets sorted which for me woukd be a positive but seems to be taking forever.
Maybe there is something going on with change to management.
Agree this has great potential but willing to wait for some clarity, don't mind if I have to buy at a higher price.
One thing noticed in the recent announcement to ASX query that they know they have an institutional investor who has been selling but I wonder who's been buying their shares.
One to watch very carefully for any volume or large/delayed trades.
Yep I am aware of that story, as you say could all be BS or indeed machinations.
Interesting none the less, it really is potentially huge in my view.
As you can probably tell, even though I'm out I've been keeping an eye on this one. If funds come my way from the sale of ARCM and the price is right, I'll be putting a tiny bit back in here. Big ifs though.
There are rumours that a group of investors called the 10 baggers are starting to buy up shares and might well be trying to force the current board out at some point (if not SC then certainly NW). If I had any spare cash I'd trickle a tiny bit in.
It could all be BS though.
Is this just about to breakout, finally....! Resources are on the up, this is a huge project. Been in this was 6 years, ever since a chance conversation on the ramp in Asmara. The fear was it was going to be taken out by the Chinese on the cheap, it now looks like someone piling in on the ASX.
SM don't think you'll regret getting out, hopefully.
I left as well.
Dnk seem to tick a lot of boxes but there is something that, for me,didn't seem quite right.
Good Luck.
I couldn't stand the heat so I'm out of the kitchen.
The sells you see today are mine (not much I didn't have a huge stake).
Given my recent performance the good news is it's probably the bottom and the only way from here is up for Danakali. My head is telling me the company is worth more and its likely Seamus will get a better price for the company than the current price, but my gut was nagging me though about this.
Good luck Jono (and anybody else reading), this really is one of the worlds best untapped resources of any kind. Depending on how it progressess I may be back in, but if history is anything to go by ,the spreads make dipping in and out uneconomical.
Yep, their at a fork in the road.
Go left heavily discounted placing,.
Go right delist take it private.
One things for sure the ball is not in their court and they can't find a easy way to get it back without selling the company for peanuts and investor know that.
In other words their up the up sh.t creek without a paddle.
Could go private.
This line is interesting
"I can assure you that if obtaining the final development funds required on *sensible terms* was easy"
That suggests to me there's a few crappy options on the table.
Does not make good reading.
What is he really saying!
Will it go bust, delist, go private, expect another rns.
Must admit this was not unexpected.
Agree can't sugarcoat .
DNK have failed can't blame anybody else and to do so is weak.
JPM selling
New Uk broker
AFC 2nd tranched delayed and now postponed, they wouldn't want yo pay 33p when current mid price is 21.5p.
New/ Better funding plan won't be in dnk's but afc best interest.
No news on getting other funding gap resolved
Nope can't blame others.
In response to a twitter post about AFC failing to provide the money Seamus Cornelius wrote
"Actually they didn’t fail. The conditions precedent for the disbursement weren’t satisfied in time so we agreed to work on a new/better funding plan. AFC and AfriExim Bank are key to building Colluli and we are very pleased to have them on the team."
Personnelly I'm finding it hard to sugarcoat today's news
Cheers SM.
Wish they would just get everything done and dusted.
If there is a placing, and todays rns maybe a precursor as well as UK broker rns, I want to buy more as I think this has great prospects but won't until all funding confirmed.
Hi Jono,
" whats happening with the gap in funding?."
Seamus covers this a little bit in the video, when asked about it he says all the right things "It's coming, we're exploring every avenue to benefit shareholders the most etc" pretty much what you'd expect whether or not it was going well or badly, but you can glean from the video that it's all going to be announced at once, and apart from one bit where he's a bit "blinky" he seems rather confident (but then that's his job).
At the moment JPM are selling this in Oz which is hammering the price down and have been for a while (so I'm ruling out forward selling) So that surely can't be helping with confidence and explains why the price is in the doldrums, they've a lot to shift.
Need not 'end'
Thanks Gards56, report is on website now it wasn't this morning.
Not convinced tranche 2 funding will go ahead, why has it been delayed.
They end to sort funding gap.
Didn't notice if they mentioned that they have to raise more cash to complete all funding!
Presentation is on website
Tranche 2 (US$28.4M) to settle by November 2020*
Subject to satisfaction of relevant conditions precedent
Couldn't find presentation on website but if doesn't contain any new info so why bother.
Need to confirm if/when AFC are providing 2nd tranche of funding which has been delayed and whats happening with the gap in funding?.
Thats whats relevant now not a new presentation of same info as last presentation!
https://stockhead.com.au/stockhead-tv/rocktalk-potash-demand-potential-looks-potent/
Interview in 2 parts, first the analyst then Seamus, first time I've really heard him speak as I've only been aboard for about a year and I'm used to Neils Wage doing the speaking.
Looks like JPM have been selling their stake for quite some time, I get the feeling they really want out rather than the usual shady forward selling, 16 million shares to go, so about £4.4 million still to clear. No idea why they got cold feet, but it's keeping a lid on the price for now.
Total speculation but I think AFC will stick to their word, but in all likelihood there'll be some placing for the rest.
Thanks SM.
Didn't really see anything new,
What does concern me is lack of news on final funding, think its around 70 odd m$, so half that for dnk.
Also the afc funding is being held back and as mid price is now 27.5p well below the 33p that afc will pay.
Just think that things might change, and not for the better, discounted placingon cards maybe.
Notes are here Jono.
https://www.danakali.com.au/images/stories/corporate-presentations-and-company-infromation/2020/DanakaliandAFCwebinarpresentation_September2020_Final.pdf
Interesting to see the slides from AFC, they seem positive and that's the main thing as far as I'm concerned now (well that and finding out how the rest of the money is to be found).
Unfortunately I'm very time poor at the moment so couldn't have watched the presentation live, however I did get a heads up it was going to happen via h-o-t-c-o-p-p-e-r , somebody on their posted an email which I assumed was either from the company or one of the company brokers.