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I don't doubt that it will be signed, but there may be details that need to be changed. (IMHO)
Until the EPC is signed it would not require an RNS (IMHO)
I'm wondering whether it is possible to get the EPC and not issue an RNS?
Eg because they are reviewing it?
We need that RNS pronto.
"§ EPC Proposal and EP Contract offer - on track to be delivered to the Company by the end of January 2024; "
let's see if they will stick to their revised schedule!
Chinese New Year in a couple of weeks so I hope it will be before that.
I jumped ship because I thought the EISA delay was deliberate in order to run down the clock and force eml to sell to OCP. Still think that will happen. I hope I'm wrong. With KP2 the EPC is our issue.
I’m in Eml too . 2 horses running I only want one of them. Preferably eml as I have more of a loss over there
hope so 🙏 none of mine ever do too.
i jumped ship from eml to here and am 2 thirds down from my buy in. if the epc is agreed then will shoot up. if not agreed then game over. **** or bust i believe is the expression.
Is this going to go Ballistic soon ?
None of my shares ever go ballistic.
FWIW - Potash prices in Brazil currently low due to impact of drought.
https://www.reuters.com/markets/commodities/brazilian-farmers-slow-fertilizer-buys-drought-dampens-corn-planting-plans-2023-12-18/
Interesting. Exciting few weeks ahead
IMO, it is; we have had many delays, some justified, some not BUT we are finally getting there; plus, inflation is heading lower, Debt yields and China is slowing down, all pointing to more reasonable costs for the mine project; Potash price is low too but only back to its long term trend; who knows what the Potash price will be in 3-4 years, when production starts?
Looks very encouraging to me.
Plus a 4 week delay, Vs the December update!
"PowerChina and SEPCO have confirmed that they have received all the information relating to the Works, internal reports are being finalised, and the EPC contract is in draft form. Regarding the Works detailed in the Agreement:
§ Additional engineering design works - Completed;
§ Finalisation of internal reports - week commencing 15 January 2024;
§ EPC Proposal and EP Contract offer - on track to be delivered to the Company by the end of January 2024;
§ Kore Potash and SEPCO/PowerChina signing the EPC contract - targeting before the end of February 2024."
Another 8mln shares today.
Big month ahead for us. Hopeful of positive news soon.
Seems someone is slowly accumulating...
Maybe there is light at the end of a very, very long tunnel (if you can forgive the pun on the mining industry). Very interesting few weeks ahead.....GLA.
Some interesting buying today; Chinese should have left Congo by now, and EPC should be getting close to RNS level - IMO
Happy New Year!
And finally, FWIW, Technicals seem to point towards a Golden Cross occuring sometime in January, around the time when the EPC is due to be signed; purely coincidental, of course, but it would support the SP further.
The previous opt. study earmarked 40 months to mine completion, so it's quite reasonable to have this reduced to 3 years or less, given the 6-8 months spent by the Chinese on pre-engineering work; LT USD bond rates are coming down (back to what they where 1 year ago) and the Chinese economy will not be recovering soon; all these imply reduced cost pressures for the construction phase, plus a higher NPV (discounted at eg 4% Vs 5% just a few weeks ago);
And, just another wild guess, DX project will be more attractive/marketable (and valuable) once interested investors see that Kola (and associated infrastructure, which will be synergistic to DX) is finally on the way.
Of course, things can still go wrong but as the Co have already dealt with many problems over the past 2 years, I am optimistic that there is more upside than downside risk.
Time will tell - soon IMO.
FWIW - I remain positive on KP2. Two possibilities in my view. KP2 get the price guarantee based upon (a much improved) version of the existing design. KP2 the price guarantee based upon a new design that gives savings in operating costs and time scale by using the latest technology for Potash mining.
BW for 2024 - 99
That's also quite possible; in any case, we will IMO have material news within the next 2-3 weeks (good I hope), so this matter will be just old history.
GLA, best wishes for 2024!
I am not sure that the additional work, required by PowerChina was the result of "bad communication/coordination". My interpretation of this was they were unimpressed by the original Engineering Design work (done by a French group) which SEPCO were following in their quotation.