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Bill, can you remind me if the DFS was for MT or WK, I thought it was for MT from memory
Hi LB
Monchetundra is shovel-ready but WK is more than shovel-ready and it’s all to do with making yourself alarmingly attractive to the buyers. It is good to remind would-be suitors that they can take nothing for granted and that in the Urals (or Kola) a bird in hand is definitely worth two in the bush!
The DFS was approved on July 3rd.
If 'hot spots' were identified in the data, maybe extensive D.D. is being conducted by prospective buyer?......if not.....it's a case of .....W.K lumberjacks ASSEMBLE!
Stonk
The negheads will be all over that response from CS with a negative tooth brush. It is exactly what any LTH would or should have anticipated. No need for me or anyone to read their rubbish - with such a simple remedy at hand.
Afternoon.
This 'new' work actually started last year. 8-9 months ago. The first clear image of the extent of the work is visible from 14th September.
Note the large 'E' shaped clearing to the west of the main site. This obviously didn't appear overnight. It's about 75 acres! This was initially just tree felling as far as I could tell.
https://apps.sentinel-hub.com/eo-browser/?zoom=12&lat=59.53641&lng=58.93124&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c&datasetId=S2L1C&fromTime=2023-09-14T00%3A00%3A00.000Z&toTime=2023-09-14T23%3A59%3A59.999Z&layerId=4-FALSE-COLOR-URBAN&demSource3D="MAPZEN"
There have been 2 rns announcements since then basically stating that nothing is going on at WK and nothing is planned for 2024.
This is pure BO l l O c s in my opinion.
This newly cleared area today has a perimeter of nearly 4km... and a wide 2km access road running to it. I'd put money in it being wide enough for the drag line.
It's also worth noting that most if the subsequent stripping activity has taken place whilst the ambient temperature has been sub zero. Jan temps hit - 20 Deg C
If you started off from the most westerly point of the officially mined boundary... Walked down the access road... All the way round the edge of the new area and then returned to your starting point, it would take OVER AN HOUR to complete.
My view is the company should start declaring what's been going on for over half a year.
I've asked 4 times and provided date stamped satellite image evidence. Result... 4 ignored emails. Not a good look in my view.
ATB LB
I think that the resident Rat suggested it a while ago....maybe he was right?🐀
What could EUA shareholders do if W.K was mined by the subsidiary instead of 'EUA'?.
Stork please read above that…cs said there are no material changes…it’s simple…they just haven’t done any work to update shareholders on…
No I cannot as it is in PDF format not a link and that cannot be copied from telegram.
It is however logged under Kosvinsky Stone corperate action number: 913361
Recorded 15 April 24
Date planned 08 May 24
"I also received this response from CS a week ago on LinkedIn to a message I’d sent him weeks ago.
“doing our best to get a result on the sales process while living with complex issues affecting our ability to manage our newsflow”."
Proof - if proof be need be - that they are in a strategically intentional radio silence, rather than negligence/arrogance/apathy.
Without power of Attorney as per second mention in below
@Makeabundle; we don’t even know if the Russian or Hong Kong potential “buyer” has completed DD yet so there probably isn’t any bidding going on at present. Unless it’s the one we were advised that did complete DD on 28 Oct 2021.
@ BoB; do you have the link for the KK EGM please?
I spoke with Shiv from Yellow Jersey yesterday ref whats going on at WK and he’s contacted CS for clarity ref the images, positions advertised and the KK EGM. Previous response from CS a few weeks ago he'd not be updating shareholders unless there is a material change in circumstances so I’m not holding my breath for any response!
I also received this response from CS a week ago on LinkedIn to a message I’d sent him weeks ago.
“doing our best to get a result on the sales process while living with complex issues affecting our ability to manage our newsflow”.
This seems to have happened on 24/11 too if the site is correct. Formatting doesn’t show but on the site it suggests that Vasily was replaced by Oleg as General Director with Power of Attorney. May not be relevant as Vasily could still be in charge at group level but there appears to have been a change at the KK level in any case.
Information about individuals entitled to act without a power of attorney
Hide changes
VASILY VLADIMIROVICH KUDRIN, INN:771708514305. Position: GENERAL DIRECTOR
KARMANOV OLEG SERGEEVICH, INN: 661706901998. Position: GENERAL DIRECTOR
https://star-pro.ru/proverka-kontragenta/organization/1026601102725--zao-kosvinskij-kamen
Simple answer might be that we can afford to continue mining but can they, the buyers, afford not to buy us now before metal prices rise (further)? I hope that we are making a convincing case that there is no time like the present to buy. If you were the buyer you would be worried about an unforeseen end to the war, an explosion in metal prices and the beginning of a real bidding war! That is why a meeting of minds in the middle ground price-wise is likely.
'The KK EGM could provide some clarity' - I would hope so we shall see?
Also coming up June sometime is the conclusion of the QVL case.
As frustrating as the wait is we due considerable news over the next couple of months.
Good morning to Offler and every single one of you.
Your entry post from source.....'The Stretch' (last night 20:26) of "I dip in now and again" is a true example of the sort of comedy post this competition needs.
Go Stretchy!
Things in motion indeed. The KK EGM could provide some clarity and not long until then.
In regards to your point about 'activity cost and the concentrate' you are right on all those points and this is where the intrigue appeared in regards to the Kosvinsky Kamen recent financial results and increase in revenue (it seems something was sold they have plenty of cash).
Then to add to that we also know they have an EGM on 08 May which alluded to cash transfer?
To summurise something is clearly going which I also have absolutely no idea, however given what we do know (as limited as it is) I think it positive development.
*Very importnant point also to note - this activity began in earnest with job positions opened up at KK after the case in regards to the tax was won in court reducing tax down to 6%.
I agree SteJSteJ, If revenue was the option we would sell the existing concentrate. I had assumed that in doing so we would either break sanction or pop our head over a parapet somewhere - but maybe our hand has been forced this way anyhow.
Equally it seems odd behavior for a buyer to ask - perhaps they will only buy an asset that is already producing ie needs no development costs or time.
Interesting indeed.
Activity will cost money, so there must be some logic behind it.
There is already a pile of concentrate, still unsold at last notification, so adding to that pile at extra cost would seem a foolish action, unless the concentrate has been sold.
Roll on the AGM / next RNS, when hopefully there will be some explanations
Morning @Nelson
Simple answer (Occam's razor) would be that they are looking to maintain revenue in order to avoid running out of money ... which would be curtains.
I don't post much here whilst we are in hideout and wait mode from our boards perspective. I do find the clearance going on v interesting.
- are we readying this in kindness to a prospective buyer, pre buy?
- are we looking to gain a revenue?
- are we producing for a local agent forcing us to do so on threat of asset expropriation?
Very unusual to have no idea, but then again this is a very unusual share position. I remain cautiously pessimistic - still holding the shares on their cost price (with a huge loss - average of 22p) but the light at the end of the tunnel seems a long long way away and is flickering at best. How long can this continue in its zombie form? I suspect not too much longer - as time goes by I feel there is more chance of losing asset and less chance of a purchase. Interested to gain other long term sufferers current view.
Offler wolfe said the same last year think Wolfe wins hands down
This competition is just turning into a Stretch Fest!.
He manages to skate that fine line between being a comedy bu115hitter and a total lunatic.
Pot and kettle rolled into one.
Check this peach out.......
"It really is worthwhile occasionally checking the postings without logging in, as you can see some of the hysterically funny crap that’s posted"
Sort of defeats the object of filtering.
He's behind you!
Stretch says “ I just dip in now and again“ that has to be the comment of the year