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I wouldn't get hung up on the wording, despite the ugly split infinitive. Probably a compromise with the Chinese version. I think we can conclude that things are creeping forward.
Concerning.
I just hope all goes well
I'm saying, read between the lines. Why mention "material", or even the trip to China, unless signing is definite and probably before end of May? They could have just sat on the fence, merely repeating "signing expected in Q2". IMO
LT, What are u saying?
"to materially progress" is the juice, IMO; why mention about the trip at all, or this word, "material", if they did not expect a conclusion soon, or even a failure to conclude?
Any views?
Little Den has spoken again.
This - again hat-tip to MM - from the ZIOC board.
Possible cross-reference to KP2s Omani shareholder....(Oman is also in the frame for ZIOC).
Yesterday at the WEF meeting in Riyadh, Nguesso jnr all but name checked the front runners for GCC investment into Zanaga:
RIYADH: Member nations of the Gulf Cooperation Council can play a pivotal role in developing African economies, a special meeting of the World Economic Forum in Riyadh was told on Sunday.
Economic relations between Africa and the GCC are set to grow significantly in the coming years, economists have said, driven by mutual interests in economic diversification, investment and sustainable development.
Denis Christel Sassou Nguesso, the Republic of Congo’s international cooperation minister, said countries in central and western Africa had traditionally looked to Western powers, such as the US, France and the UK, for assistance with their development but were increasingly looking to forge links with GCC countries.
“IT’S A GOOD OPPORTUNITY AND POSITION TO START TO WORK ON THIS COOPERATION WITH (COUNTRIES SUCH AS) SAUDI ARABIA, UAE, QATAR, OMAN AND BAHRAIN. They can help (African) countries to develop their economies and infrastructure projects,” he said.
https://www.arabnews.pk/node/2500866/middle-east
Just guessing that they will NOT sign in China, but maybe they will organise - in China - when/how/who will sign in Congo, with the Minister of Mines present; so possible signing by May end? IMO
Interesting ! Imminent !
"The Company is meeting PowerChina senior officials in Beijing in early May 2024 to materially progress the finalisation of the EPC contract."
Thanks extrader (and MM). - I'll bet nothing will be signed without Denis being present to claim the credit !
Nice one XTrader, if miracles happen then next week we may get an RNS about the EPC signing, in the presence of the Minister and the Chinese :)
Hi 99icecream,
Hat-tip to MM on the ZIOC board for this, which might be topical for KP2...
Ministère de la Coopération Internationale - Congo @CooperationCG
Minister Denis @ChristelSassou Nguesso received, on April 25 in Brazzaville, the delegation of the Exim Bank China group currently on mission in Brazzaville. The two parties, during this meeting, discussed several current and future Sino-Congolese cooperation projects...
https://twitter.com/CooperationCG/status/1784221237482328434
ATB
IMHO both BHP and Anglo have spent so much on their respective projects that they must be completed so that they can get back some return on them.
With Polyhalite the amount of Potassium is very small (about 15%) that of KCl, and in any case its more of a competitor to SOP than MOP, (infact they market it as Poly Sulphate).
I suspect Anglo may come to regret their investment in Woodside, because it assumes that they can sell about Ten times the amount sold by ICL.
Thanks 99, that's why I said "fertiliser", and not Potash; but it might be connected indirectly if the project is shelved (less competition for potash) or if BHP succeeds in buying Anglo and over pays (so maybe less money for Jansen), or loses focus, affecting the completion of Jansen (6 times bigger than Kola's final output);
Either way, whatever might reduce competition for Kola's output would be a plus for KP2, that was my point (in 3-4 years, if things go well!).
Note that, Polyhalite is suitable for plants that don't tolerate Chloride (as in Potash or common Salt).
Polyhalite
https://www.icl-uk.uk/7-reasons-to-love-polyhalite/
Woodside has little relevance to KP2 as Polyhalite contains only a little Potash. It is a mixed/specialised fertiliser with only a small market at the moment and only one other supplier (UK also).
Interesting, thanks for posting LTB
Https://www.thetimes.co.uk/article/bhp-anglo-american-merge-mining-sector-9hffwkwbf
Although this has no effect in the short run, and KP2 has nothing to do with copper, Anglo is adding to fertiliser supply in 2027 with its Woodside mine in Yorkshire; BHP has its own potash project in Canada (Jansen - spending 6x more than KP2, for 4x the production) so scrapping Woodside or delaying it, is quite possible.
https://www.bhp.com/what-we-do/global-locations/canada/jansen
The 2nd positive is the realisation in the Market that a ready (or near-ready) mine project is worth a lot more to big MIning companies, as it can come to production quickly, than greenfield projects; Kola and DX are such kind of projects, not far production IMO.
Anyway, we'd get some news next week - if we don't, then the Co is probably delaying the Q1 24 update because it wants to combine it with a material RNS? Q2 has 9 weeks left so they have to be more specific with the EPC's signing, it's been 1 month since last update (when they pushed signing to Q2, from end of April).
GLA
We'd be getting the Q1 24 Operating update next week; hopefully, with news on the EPC signing too!
Spread tightening, usually a good sign.
I already have, hence my post :)
Its like Schrodingers Cat - the only way you know if its a buy or a sell is to try a dummy trade in 1 million.
0.5025 to sell, so I reckon the 2 x 1 mln at 0.51 are actually BUYs; plus, we are still getting those 0.59 trades.
Seems something's brewing?
GLA