Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I work in construction and understand how conditional contracts work. Our interest in the project is dependant on the finance being concluded, hence why the market is having trouble valuing KAT. It’s all or nothing. What gives me comfort is that the JV partner has extended the option 2 times already and we have lent money to the JV . So we are all tied into together. Fingers crossed. Will take profit though on any spike . Egg
the BoD have granted themselves millions of share options at 2.6p. They did this only a couple of weeks back. They know a deal will be done. The financial statement today is ahead of time I suspect it's so they can drop the JV RNS on Friday instead which will allow investors to digest over the weekene before the feeding frenzie next week.
The deal is too good not to be done. With 14 parties all vying for the opportunity to provide Katoro with the funds the balls in Kata court and they can and will get the best possible deal for us shareholders.
Thats just the thing though Bananaman, they dont end up in serious trouble, how many times have you seen RNS's from companies promising the earth and delivery nothing. I just want this deal done before the 30th or we could be in trouble sp wise but its all just imo!
Well he has said as much in todays RNS. If he is lying he will be in serious trouble.
I understand your points lampedusa and did question the JV but if it does come to fruition then hey ho but if it goes from 14 interested to no funding then LC needs rid of! I just hope he does get ir sorted for obvious reasons.
Spoon you will not get an answer here for your q. they original deadline was 30 April . ask your self if its worth a Million why is Blyvoor giving way 50% for peasants?
Thats my point, what happens is no deal is reached by then? Can Kat be booted out of the venture? This is a genuine question as I hold btw.
Stupid typos!
Yes. It is the 30th.
Wasn't the agreement up to 30th September? What happens when this date is met if financing isn't in place? I agree that a week or wont make any difference aslong as they are still in the 50/50 and the deal does come.
And so what if it is delayed a week or two. The gold is going nowhere. It will happen. Sounds like they have had a number of options.
The beauty is near term revenue. Will be a producing miner in less than 2 years.
The bit I'm a bit uneasy at is "the remainder of 2020 is looking to be a news rich period for all shareholders." I hope this isn't a hint that funding is going to be delayed? I know he states "Blyvoor advancing rapidly to financial close" So I'm hoping my unease is unjustified! Only a week left so another RNS could drop anytime.
In early 2020 the Company entered into a strategic gold production opportunity in South Africa, focused on the reprocessing of an existing 1.34 million ounce of gold JORC compliant tailings resource. Katoro entered into a binding conditional agreement to form a 50/50 unincorporated joint venture to advance the project to near term production. During the period, Katoro and its joint venture partners made tremendous progress in advancing the project including the appointment of Graham Briggs as JV Manager, delivering exceptional improved economics via a new scoping study and attracting a significant number of expressions of interest to finance the project. With the high level of finance interest shown, Katoro and its joint venture partners worked diligently to assess each of the expressions of interest shown.
Post reporting period, the Company has continued to make significant progress on all aspects of the business. The company raised £1.1M in an oversubscribed placing which has put the company in a solid financial footing for the foreseeable future. With a pending drill programme at Haneti and Blyvoor advancing rapidly to financial close, the remainder of 2020 is looking to be a news rich period for all shareholders.
Easy money, not long to wait, the deal will be done.
Is it time to add some more ?
Plus hanetti and copper at year high prices aswell
So we are looking at revenues of around £11m with the sustained costs removed from that figure already. Based upon 35,000oz per year at $800 per Oz margin. Split 50/50.
Company overheads must be minimal so the profit after tax will be close to £10m per annum.
MCap is currently £8m
Expecting this could easily see £30m MCap on financial close.
The more I consiser the fundamentals here the more impressed I am
https://twitter.com/sensetalka/status/1306875681582845952?s=19