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GOLD investment £3.3m mcap £1.59m. 106m shares tightly held. won't be long before people see value in this. First Indian gold field to be mined.
100%+ coming this should be 3p on yesterdays news £3m and investor on board, mcap is half this, see this doing really well now, gold price going up. 1st gold mine in India and we all know how Indians love gold, probably the biggest gold market in the world. rerate on the cards. chart looking good for a reversal.
10380 join the great traders club omg
4820 well done great trade
106m shares less all the BOD and major shareholders and the 8.3s declared we worked out only 30m shares in free float so I'd go 1/2 again as Harvinder said a lot held out of the country - India ?
18 buys 3 sells
: ) Where are Dibs and Timeless?
New fundraising values one of Kolar Gold's assets at twice our overall market cap! so should rise well on that alone and more more to come regarding Finntech
Yep everyone will twig on soon how big this will become
okenia ‏@DkOkenia 1m New fundraising values one of Kolar Gold's assets at twice #KLGD's overall market cap
Great RNS will move well from these lows
As at 31 December 2015, Kolar Gold valued its investment in GMSI at £3.02 million. This fundraising values Kolar Gold's investment at £3.3 million (based on the current sterling/rupee exchange rate).
Update on GMSI: funding for further drilling and completion of economic feasibility study agreed Kolar Gold Limited ("Kolar Gold" or the "Company"), the Indian focussed gold exploration and mine development company, provides the following update on its investment in Geomysore Mining Services (India) Private Limited ("GMSI"). On 30 March 2016 the Company issued its interim statement for the six months to 31 December 2015 (the "Interims") and stated that GMSI was in the process of raising US$2.2m (the "GMSI Fundraising") for additional drilling and to complete the economic feasibility study (the "EFS") in relation to the East Block open pit mine. At that time, the Company stated that it would not be able to participate in the GMSI Fundraising without raising further funds itself and, in not participating, its interest in GMSI would be diluted proportionately. Since the issue of the Interims, the four major shareholders that hold 95.6% of the issued shares have been in discussions regarding further investment in GMSI. GMSI has prepared a revised budget and exploration timescale. These discussions have now concluded, resulting in one of the four major shareholders in GMSI, Thriveni Earth Movers Private Limited ("Thriveni"), a leading Indian mining company and a drilling contractor to GMSI, agreeing (subject to an EGM of shareholders in GMSI to be held on 7 July 2016) to invest US$2.4 million into GMSI at a price per new share of INR 1,300 compared with the previous funding round of INR 1,444.5. Assuming completion of this investment, Kolar Gold's shareholding will reduce from 23.4% to 20.5% and Thriveni will become the largest shareholder in GMSI with 38.0%. This funding is expected to enable GMSI to undertake the additional drilling of up to 10,000 metres in relation to the East Block open pit mine, complete the EFS and provide sufficient working capital to the end of 2016. As at 31 December 2015, Kolar Gold valued its investment in GMSI at £3.02 million. This fundraising values Kolar Gold's investment at £3.3 million (based on the current sterling/rupee exchange rate).
Lol spell check changed it
Any news here guys
Statement re. share price movement The Company notes the increase in the Kolar Gold's share price during today's trading together with the higher than average number of shares being traded. As stated in the Company's announcement on 30 March 2016, the board of Kolar Gold plans to pursue opportunities that are allied and complementary to the strategy outlined in that announcement which it can develop in parallel with its gold exploration and development interests. The Company also announced that it is seeking opportunities to raise further capital in order to develop these opportunities in conjunction with its interests in Geomysore Mining Services (India) Private Limited. ******Since that time, the Company has held discussions with a number of parties and these discussions are continuing. Further announcements will be made at the appropriate time.
Merger discussions with Deccan Gold Mines Limited ("DGM") have been in abeyance while DGM has focused on raising its own funds through a rights issue on the Bombay Stock Exchange which was completed on 9 November 2015 and raised £5.10 million. The logic of the merger, to create India's largest listed gold exploration company, remains strong and GMSI has indicated that discussions are likely to be renewed in 2016. Kolar Gold shareholders will be kept fully informed of developments. The achievability of obtaining a listing for GMSI shares either through a merger with DGM or by a listing on the Bombay Stock Exchange will only become clearer once the economic feasibility of constructing a mine at Jonnagiri are better known. BGML The revival of the BGML Gold Mine continues to be discussed at state and central government level but the form and timing of any tender remains uncertain despite previous indications that a process was likely to commence. The Company continues to pursue discussions with Government agencies, its partners and interested parties but the form and timing of the tender for this asset have still not been confirmed by the Government. Strategic Review Against this background the Company has taken further steps to preserve cash to extend the life of the Company beyond the end of 2016. The Company is reviewing its strategic options with the intention of considering all available opportunities for maximising value for shareholders. These include · exploring the possibility of realising the value of its investment in India in an orderly manner, including the possible sale of one or more of the Company's assets or subsidiaries; · investigating mining opportunities outside India, where Kolar Gold as a vehicle could be an attractive platform for current and new investors; and · seeking new investors who may be prepared to invest in the share capital of Kolar Gold.
Each buy ticks up and any positive news on funding this new direction they hint too will see it take off We have NO DEBT and £1/2m in the bank and that's the time to get private investment in We have a £3.5m stake in GMSI too It's primed for a kick up the backside from someone
But MM's were happy to take a lot of shares off my hands in a dummy sell @ 1.255 which is quite positive for a rapid uplift here ;)
India's fintech revolution is primed to put banks out of business - TechCrunch bit.ly/1YpDsrp #fintech
· The board has examined other opportunities which it considers may be attractive and has concluded that diversifying its interests by pursuing complementary opportunities initially focussed in India, including in the fintech sector, would potentially enable the Company to raise further capital. The strategic review has now been completed and the Company is no longer in an offer period under the Rules of the Takeover Panel and accordingly the requirement to make Rule 8 disclosures has ceased. Looking ahead the board of Kolar Gold plans to pursue such opportunities that are allied and complementary which it can develop in parallel with its gold exploration and development interests. It will also seek opportunities to raise further capital in order to develop these opportunities in conjunction with its interests in GMSI.