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I have found the General Meeting document that sets out how many shares have been offere to SQM and QIA. They have been offered sufficient shares to maintain their current per cent holdings (and no more) as follows:
Number $ Approx %
ISSUE 155,480,000 1,000,001 64.9%
SQM 37,662,890 242,236 15.7%
QIA 46,317,394 297,900 19.3%
========== ========= =====
TOTAL 239,460,284 1,540,137 100.0%
Welcome to the party ALB. Many here will be surprised by your change of sentiment. I hope you are right with your targets.
Following the recent news today I am now a buyer and hold. IMO if the target dates are met and now with the RoC Gov support I set a long term TP of 6.5p. The markets are yet to believe however once that sentiment changes 1.2p will soon arrive followed by 3/4/5/6p.
I will sleep better if it does.
How long before it gets to 1 p ?
The dreaded vote of confidence! But seriously, that is reassuring.
Also let's say things happen as you suggest. what would happen after that? the main shareholders set up a new company where they would own some % with the Chinese own the rest? the same outcome they can achieve by offering Chinese some %. why go through the trouble of a "false" takeover? I call it false as the fair price is higher than 1.2p.
At 1.2p, KP2 investment will be a loss to all main shareholders. and as I said before, ASX will require a very good explanation for why the takeover needs to happen despite all communications so far PLUS I guess the final plan and finance would come forth soon. in law, it is something along the line of "acting in good faith".
so ALB, all your prediction so far has been right about the share price. but it goes down due mainly to KP2 pay directors in shares, which they sold some, putting pressure on the price. price goes down NOT because all those reasons you said.
IMO the mine is a goer and 2 main holders and finance providers will have Kore taken over well before the 6 week deadline of funding... 'However' it will be for around 1.2p ps which means they only need circ £10m to take all,, as they already own close to 50%.. It should be for around the 3.5p mark however they hold all the cards here and a deal will be done with the BOD.
This is my final prediction here... Let me remind you all...My previous predictions nearly all came true!.
Conclusion = takeover at 1.2p
IMHO "its a goer"
So is it a goer?
The Capital Cost here (RNS 27 June 2022) is US$ 1.83 Billion. Power China is being asked to guarantee the cost and delivery for this (EPC contract guarantees). Power China were not prepared to give the guarantee without further work on the EPC (reviewing aspects of the Kola design and planned production schedule). The further work is expected to further reduce the capital cost and the production schedule (RNS March 2023). Power China / SEPCO will incorporate the cost of their guarantee in the construction cost - if the plan is a good one their chances of needing to pay for any cost overruns will be reduced (i.e. 5 million is a small cost vs. an overrun on a sum of US$ 1.83 Billion.
I'm amazed not raised yet..... Why are SEPCO donating in excess of $5m here for nothing?... Hmmm ,Me thinks they not doing this for free!. Nothing mentioned about that though.
Cash_investor. So $ 1million approx has been raised in the share issue. And 20% (not 25%) of that came from Harlequin. However, the share issue is not complete yet as Aurora and Quimica have rights not to be diluted in such a raise. That means they could contribute about an additional $ 550,000 maintaing their 35% shareholding (Aurora 19.34% and Quimica 15.73%). In that case 13% of the total would come from Harlequin.
It is not clear is what number of shares Aurora and/or Quimica have been offered at this point (more than $ 550,000 worth ??)
What I find interesting with your comment is whether you have ONE example of this scenario that happened before? on ASX, there are strict rules about this. and from all the communications so far, if this actually happen, I would 100% contact some lawyers to explore for compensation. cause it would be fraud.
also why do BOD want to do that? to scam PI? who own tiny % of share????
99icecream - you are right. I got the name mixed up. the one I am talking about is Dingyi Group Investment. their ownership has decreased over time.
....People seem to be realising that all though this mine 'MAY' eventually get built,,,, it will not be the PI's who will gain from there investments in it as the severe dilution into the share structure II's and BOD will enable total control/ownership.
Why do you think Harlequin Investments Ltd has any connection at all with China ? - (i.e. Not the "Family Office" for a UK based retired invesment banker).
My first post in this board. I am in Australia so bought KP2 on ASX. I notice that whenever price increase, there would be a big sell to suppress price back down.
looking at the latest share issue, Harlequin, the Chinese comp, got 25% of the total share issues. It is very much in their interest to suppress the share price.
use say 1M share over the time (sell when price increase and buy back at lower price as well).
The reward is pretty good. They get 31M share this time at lower price. costing 250K instead of say 500K or even higher if no share suppression.
Can't entirely agree with you Mitch984! ALB1's persistent negativity hasn't helped KP2 and I'm sure there have been plenty of sellers influenced by his "I told you so" posts which only drives the SP lower. Of course, had we all listened to him at the start we wouldn't have lost so much money! At least I can agree with his "it's probably too late to get out now anyway tbh." Which isn't very sound advice if the company's doomed which, obviously, it isn't! ATM, I see more light at the end of KP2's tunnel than ZIOC's.
There is no such thing as a "paid" deramper, or indeed anyone who is "short" on KP2. This is a very minor AIm share with a small turnover that has no middle-men or market-maker involvement at all. There is no money in it for them.
Albi just has an interest in this board and a subconscious need to eventually be proved right. He's not invested, never will be invested, and is therefor not deramping - either for himself or anyone else.
He has an opinion, which he has every right to express on here. However nobody should be influenced by what he has to say - or indeed by whatever anyone else says opinion-wise on this board. Just do your own research. Links and leads to do that do appear in the this forum occasionally, like Beardozer suggesting a lokk at the Zioc board for info on waha is going on in the country as regards the port and other possible inward investment/development.
Meanwhile it is just best to ignore Albi's posts and not respond to them. That won't stop him posting occasionally, but it will stop him reacting with more posts. He is only here for an argument and a need to eventually be proved right.
Thankyou Baldmark,,, beardozer - how can I be a paid deramper!, that's rubbish... What I will say is that what I have predicted here has come true though!, apart from the 0.025p SP which all depends now on the II's intentions going forward.
LT will be gutted I'm sure!.
Doppo - you have to decide what to do here,,,, it's probably to late to get out now anyway tbh. Who knows they may just pull it off however my options still stand.
OK - maybe not paid! I can't afford a court case! At least, not until KP2 hits the jackpot! How ironic that would be...
"Paid" deramper. How? I assumed he was short, but with his own money. i.e. talking his own book which, let's face it, a lot of people are prone to. Do you know differently?
ALB1 is a paid deramper and he would love you to sell! Admittedly, the KP2 SP keeps sinking but things are definitely happening in the Congo which should bode well for KP2 but who knows? See the ZIOC board for all the latest on World interest in the Congo. I bought KP2 years ago as a binary bet and it remains so even if I'm currently down 55%. It's my 5th largest holding of 8 and I remain confident.