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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
They should have a REX issue, like Emmerson (on8th April) , so we all could have bought at 0.38p.
https://www.lse.co.uk/rns/EML/rex-retail-offer-qk9rstdu5dvbf3j.html
Not really because they are all Board Members so all decisions are discussed and agreed beforehand; the other 2-3 big holders did not participate for their own reasons (eg small amount, too much fuss, planning to invest more when the EPC is signed etc);
LT - Lets assume that you were a large shareholder (not invited to purchase shares at 0.38p) in the latest placing - would you not be inclined to vote against Mr Hawthorn ?
Interesting guys, I'm hoping we have a runner soon.
99,
Fund raise was not unexpected IMO, it's been flagged in various RNSs since last summer; Yes, Chairman will still get his Shares at 0.38p on 13 May, that's how Placings work.
My thinking was the unexpected additional fund raise might be the reason for the delay in signing. It being best to keep the two things separate.
Lets assume the EPC signing occurs tomorrow, and as a result the share price rises substantially. Would the GM vote (on 13 May) allow Mr Hawthorn to get his shares at 0.38p ?
"among other matters" might actually mean, news about the EPC's signing? Just a thought.
IMO, this is not related because the GM meeting stated:
"As explained in the Fundraising Announcements, completion of the Fundraise is subject to the Shareholders approving certain resolutions (including for the purposes of ASX Listing Rules 7.1 and 10.11) to authorize the issue of new ordinary shares ("New Shares"). David Hathorn, Chairman & Interim Chief Executive Officer ("CEO") of the Company participated in the Fundraise via two separate trusts of US$75,000 each, which, if approved at the General Meeting, will result in the issue of 31,093,883 New Shares of US$0.001 each in the Company. Accordingly, the General Meeting is being held to seek shareholder approval of, amongst other matters, the issue of the 31,093,883 New Shares at an issue price of 0.38 pence (0.74 Australian cents) per New Share as described above for Mr Hathorn."