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A share BUY would be executed at 0.59?
Could this be a delayed settlement (eg from a month ago, when the SP was around that level)?
Could this be a partial execution of a bigger BUY Trade?
Any other ideas?
Is Power China backing up KP2?
Note that EML is impacted negatively by the severe drought affecting Morocco, which is probably why the Moroccan authorities hesitate in giving them the permit to start the mine.
KP2 does not have such issues.
No impact really at this point. In the future it does. Emmerson have created a way of better using Carnalite (to create more saleable fertilizers) which Kore has in abundance.
However, Kore will mine Sylvite initially.
Will it impact this stock?
Ironically, EML is (also) an African Potash stock listed on AIM which awaits news. If it gets the news it will re-rate significantly.
What is EML?
Too many Potash stocks !
Indeed KP2 !
This is Kp2 not Eml
It seems consistent with the expectation that the deal will be signed off / funded in the near term. If that is the case these options will be in the money soon.
Also, the numbers imply that the CEO will be paid a bit more than the CFO (i.e. approx 4/3 of CFO), but not as much as the previous CEO. The bulk of the CEO's reward will come from the options if EML performs over the next 3 years.
It'd seem that the Board has made lots of promises to the new CEO, including that his shares will be worth a lot more in 3 years' time; although it's still early days, these small steps indicate that the Board is trying to build the Company up.
I think today's RNS is another positive sign, albeit time will tell.
Enough to keep the lights on pending the deal we've all been waiting for. Which could still be very disappointing! Investment isn't a holiday camp!
Any views on this?
New CEO on Monday, we'd have the Q1 2024 Report in next week or 2, and of course the EPC RNS (I hope) any time soon?
Nothing seems to be happening
The plot unfolds....
New CEO starts in exactly 1 week, maybe something could be announced to coincide with his start? Eg EPC's signing?? :) (wishful thinking!)
Sudden surge today. News leaking ?
A glowing reference from his time working in Democratic Republic of Congo:
I worked as Logistics and Purchasing Manager reporting to Mr André Baya, who was then General Manager of Congo Iron SA, a mine development company based in Brazzaville, Republic of Congo and I have very fond memories of our collaboration.
Honest, persevering and friendly, Mr Baya is a hard worker who does his job well, respecting deadlines and ethics. He is a leader who shares his know-how with his team and knows how to encourage and motivate them to perform at their best. He is careful to allow his employees express themselves and work freely. Concerned about the well-being of all, he knows how to create a pleasant, friendly and collaborative working environment around him.
I will always remember him as a committed Manager who works tirelessly and expects the same from his employees. Straightforward, he has zero tolerance for acts of corruption or embezzlement.
With a very large international experience in the mining and logistics sector, I personally benefited from his support and aura, which made me grow professionally, moving from the position of Head of Department to that of Logistics and Purchasing Manager.
Therefore, I can highly recommend Mr Baya for any business management position because his professionalism, his wide international experience and his human qualities are undeniable assets for any mission entrusted to him.
His Linked In profile makes a very encouraging read.
As a citizen of Mauritius, I have cumulated 24 years of leadership experience, having served as a Country General Manager, Managing Director, Chief Operating Officer, and Chief Executive Officer. Notably, I spent 22 of those years as a residential expatriate, immersing myself in diverse international environments.
Throughout my career, I had the privilege of managing companies in a variety of African nations, including Burkina Faso, Congo-Brazzaville, the Democratic Republic of the Congo, Gabon, Ghana, Guinea, Madagascar, Morocco, Mozambique, Sudan, Zambia, and Zimbabwe. This journey has provided me with hands-on experience and an intimate understanding of the African context, encompassing its rich history, diverse cultures, regulatory constraints, and legislation.
My academic background includes an LLM in International Business Law, which has been crucial in my career. Over the years, I have been primarily involved in the mining sector for 13 years and the logistics sector for 10 years, shaping my expertise within a dozen African countries.
My proficiency in both French and English, alongside my multicultural awareness, allows me to navigate and operate strategically within a wide range of environments. I have achieved success in Arabic, Lusophone, Francophone, and Anglophone countries, fostering strong working relationships and delivering results.
Now, as a Management Consultant, I am passionate about leveraging my expertise to drive growth and make a positive impact in the dynamic and ever-evolving African business landscape.
Very interesting appointment.
Let's hope it turns out more like Fortescue who's shares are +250,000% since listing (if it's the same company) than Sundance Resources:
Following the loss of the Congo mining licence in 2020, Sundance Resources delisted from the Australian Securities Exchange and sued Congo to acquire $8.76 billion in compensation.
As country manager for Sundance, hopefully our new CEO hasn't got a bad reputation with the government.
Exciting period ahead - we've been waiting long enough!!
Good luck all.
Couldn't agree more, 99.
Yes, very encouraging re the timing as cash is precious currently, so unless the EPC was definite (1 month or whatever) why would the Chairman hire a CEO?
I also suspect that the Chairman (with has large shareholding) intends to be very involved in working with Andre going forward.
IMHO - Kore are moving to a new phase where they need someone full time in Congo to run things. Clearly Andre has vast experience in mining projects in and around Congo. Being, or not being on the board has no significance as both CEO's and Executive Directors will have limits on what they can do without full board approval.