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But no Heavy Buying either :) -- for now!
Thanks for that LT - not "Heavy Selling" then !
Both my BUYS this morning, one appearing as a SELL!
Anyway, not much movement expected until April unless DX project starts moving too?
There is no heavy selling or buying. Little happening at all. The dealers screen prices are guaranteed for 75,000 shares (£450 worth) so mean very little. A real (or dummy) trade will reveal the real prices to be between 0.55p and 0.60p.
They did say "end of April", which may explain the hiatus; but hopefully, we will have news about the EPC before then, maybe even regarding DX?
Yes, I did wonder about that too, 99. Despite 8million plus sales, the share price hasn't budged.
Very weird. Hopefuily we aren't too far away from news that will clarify matters.
The price bid / ask prices are misleading. They have been trading 0.55p to 0.60p for a while - I bought some yesterday just below 0.60p - but was shown as a sell
Over 8 million shares sold in the last seek in batches of 200k to 500k.
Some heavy selling the last two days, which is not good news bearing in mind KPs's past reputation for leaks in the Brad era.
As per this RNS, on 31 Oct, https://www.lse.co.uk/rns/KP2/management-change-b2r4jrq5s65x9ai.html
"The process to reach agreement on Engineering, Procurement and Construction contract terms, and to receive a financing proposal for the full construction cost of the Kola Potash Project, is now near completion and is expected to be finalised during the first quarter of 2024 with construction contractors scheduled to be mobilised during the first half of 2024", we are only (thus far!) 1-2 months behind schedule (Re Q1), but this delay can be shortened IMO as we approach June 2024. In any case, if things go well, we have EPC signing in April and financing in May.
There are two things outstanding, raising the Finance and signing the EPC. As previously outlined (18 Jan RNS) the signing of the EPC comes first (was end Feb) and then the Finance (within six weeks of "Finalisation" of the EPC).
Obviously, the EPC is redundant if the Finance is not raised, so they may wish to sort the Finance first. Alternatively they may make the Finance a "Condition Precedent" of the EPC (i.e. regardless of when signed, it only comes into effect when Kore prove they have the Finance).
IMHO - this does not signal weeks of negotiation.
Mitch,
It's also important to remember that the project was scaled up - at the outset 5 years ago - because the 2 cornerstone investors (Oman Inv. Auth. & the Chileans) were interested in annual offtake quantities of MoP 1mln tons i.e. almost half of annual capacity; this also makes financing less risky for the banks etc. IMO
We need to remember we are dealing with the Chinese here - and they never move quickly, or even in accord with previously suggested timetables.
As LTb says, it will be another 2-3 months before things become clearer. The key is not just the EPC - its the financing proposal. And I really do not think the Chinese would have taken things this far if they weren't 100% sure they could proveide the financing.
It will be the terms though that will be key for shareholders like ourselves.
And for anyone thinking the CEO leaving was someone deserting a sinking ship. You are wrong. He departed because he was holding back the entire project.
2-3 months of more negotiations, before signing; at least the RNS did not mention any issues with the Proposal, nor the final cost.
More time to average down?
Hopefully that will happen after April ?
Is today’s RNS enough to draw the crowd over and get the SP moving up ( even a little bit ) ??
RNS before the end of the week - LTBeliever was right! I think there is light and potash at the end of the construction tunnel
They also said it would be signed by end of February so if no RNS confirming signed by end of the month I think it's logical to think once again the EPC is not agreed and since CEO and FCO have both jumped ship I think the writing is on the wall for us.
Once again, the company's credibility is hanging by a thread.....or by a rope....
I hope by Friday, before the Chinese New Year holiday kicks in; RNS about, at least, receiving the EPC.
GLA!
When is something going to happen ?
Let’s hope we have something good for KP2 as well
An interesting development at EML, where a late change in the processing of Potash has the potential to be more environmentally friendly and double the NPV.
And then this one, in 2022, which talked about "issues" with the freshly received EPC;
https://www.lse.co.uk/rns/KP2/kola-construction-contract-and-financing-update-pyucll7ftlsq7rb.html
So it seems that an RNS will be issued, maybe not straightaway but soon after receipt, telling us if the EPC is acceptable or not.
FWIW, this was the last RNS issued when the first EPC was received by the French (5 years ago!)
https://www.lse.co.uk/rns/KP2/epc-received-277dio3mkgy13ko.html