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KZG shareholders definitely need the patience of saints to keep their sanity.
After the last two RNS’s I thought the follow up would be within days for the final piece of the jigsaw confirming they have the money.
Hey ho, we must continue to wait. It’s just disappointing to watch the stock price drift lower probably due to shareholders becoming more nervous, selling up thinking it isn’t going to happen.
What do you all think the waiting time will be?
Days, weeks?
years, as usual probably. Same old same old here.
The last two funding hurdles (i.e. agreement of terms, and banking due diligence) have been passed recently, and the company is keeping us well updated.
Buying in at such a steep discount to the placing price is a massive buy opportunity.
18th Mar 2021 7:00 am RNS Diamond Production, HMS Extension and Investment
“… Investment package agreed subject only to banking due diligence. Total investment of €9,130,000 via equity and convertible loans at a price of €0.03142 per share.
... Progress continues to be made on the proposed investment by a local Namibian investor referenced in previous announcements. The terms of the investment package have now been agreed for an overall investment of €9,130,000 which will be made in two tranches: ...”
https://www.lse.co.uk/rns/KZG/diamond-production-hms-extension-and-investment-9vwiy3fo5z69cvc.html
31st Mar 2021 7:01 am RNS Interim Results for the 6-months ended 31 Dec 2020
“ … The critical pathway to monetising TVM remains construction of the Orange River Pipeline, which now has all the necessary governmental approvals required to begin. Financing for the project has made progress during the Period, with the Company close to securing a proposed investment by a local Namibian investor of €9,130,000. ...”
https://www.lse.co.uk/rns/KZG/interim-results-for-the-6-months-ended-31-dec-2020-umfu90d7c7lxqbn.html
14th Apr 2021 7:00 am RNS Due Diligence Completed for Namibian Investment
“ … the Board have now been informed that the banking due diligence on the investment package totaling €9,130,000 announced in previous RNS's has now been successfully completed.
The Company is now awaiting final confirmation of the transfer of funds, at which point it will make a further announcement. ...”
https://www.lse.co.uk/rns/KZG/due-diligence-completed-for-namibian-investment-6w0ayfaifnhenru.html
Watch out Jack if Fortitude gets a whiff of despondency he will be in here with tales of how Giles Clark can make wine from water etc etc !
In the words of the late great Strother Martin, "What we have here is a failure to communicate"
Come on LJ show us the money.
TP
to be fair MrC he did once make wine from water (as we are often reminded)
This time around we need him to do the opposite and make water from wine :)
I'll raise a toast when (cough) he gets this back upto the dizzy heights of the previous 15p best.
Tuscan
That money is 100% in there bank account. It doesn’t take 23 days to have that money transferred after due diligence. I got that confirmed and wrote that on here last week.
Having been invested for nearly 5 years we know they don’t always give us the information when we need it. They are holding that information back to coincide with additional news. Remember they are going to be starting the mine immediately so it would be nice to see an RNS saying they have entered into an agreement to supply materials to the customer.......
I don’t have any issues with current share price when I won’t be selling. It’s just giving me opportunity to continue to top up.
funky , you say "100% in the bank "...........thats a very big statement
can you tell us how you have had that confirmed ...............i have previously emailed BoD asking , but no reply
@funkybeats
I would like to see evidence of money in the bank before making such a bold statement (you may be right but without the RNS or insider info then we don’t know!)
KZG seemed happy to post the RNS about the due diligence so don’t see why they wouldn’t post about receiving funds if they had received them. I’m not worried as things take time in that part of the world, and as a LTH we know KZG needs patience, by the bucket load. But hopefully that will soon be bucket loads of expensive commodities ....
Aye guys ur right. I don’t have a receipt showing money in the bank so ur spot on. Will watch my words from now on. All I no is I have spoke to people not connected to KZG and explained the situation and they advised that due diligence to establish where the money came from takes all the time. This happened with KZG case. Once that due diligence has been finalised there is no reason for any hold up.
Apologies if I seem to be implying to any holders something that I fully no that has happened with this company in terms of money is in bank.
FB
The transaction cannot have concluded as the investor/s are being issues with shares as part of the transaction. As the number of shares will be increased as a result of the transaction it will be an mandatory RNS.
I express my views of the DD RNS and thought it was very strange and premature. The Co need to clarify exactly where we transactions is. You cannot put out an RNS saying the DD in completed and we are just awaiting the transfer of funds. This can, and has been, viewed by some investors as being misleading. Has a deal been concluded or has it not - only Co can answer than one i am afraid
As I have been saying recently L J should not be in too much of hurry to RNS as we really need to have a detailed update inclusive of the TVM partnership,..... the pipeline timetable with full costs .....4 months trading for diamonds including last months new block.......the diamond partnership with detail.......and probably the most important the heavy sands minerals with license details......until we get this information I cannot see any sense to issuing another damp squib RNS....on a more positive note as LJ s last RNS states we are preparing mine at breakneck pace which suggests to me L J for one knows the deal is in the bag....................
For everyones info, I once had a few million transferred to me from Namibia. I'm pleased to say it took just 17 short working days (including a bank holiday)......so with that in mind, I'm in no doubt whatsoever that the money will be in KZG's account by 9:00am sharp tomorrow morning. You heard it here first!
Jeri
You're having a laugh
Yes, trying to be funny after a few ales! The sarcastic point I was trying to make was its now 17 working days since due dilligence was completed which seems quite a long time for the transfer of funds. Show us the money!
As I have said a couple of times I bought this in preference to KOD but the latter is now in breakout mode ! Also, KZG seems to have no presence on twitter other than a 'tweetless' header, I'm surprised Fortitude isnt on there TBH !!!
Always plenty suspense with GC companys, keeps u on edge, difficult countries too do business in not help, await news on iron and kzg, GLA.
As we patiently wait for confirmation which incidently is not even a month from the previous announcement , LJ is not wasting time , the mine is being actively got ready as well as the large approach road........As I have said before I would wait till months end to include diamond production and hopefully Heavy Mineral Sands license.......I for one am in no hurry..!...................
Yes, it could be construed like that but there are other connitations here namely funds received but not disclosed yet due to awaiting possible AGM or diamond updates which usually fall every two months or even HMS License.......for me I would not make any announcements until we have spectacular news......for sure if negotiations had broken down we would soon learn about it and I don’t expect that here...............
These things take time, look how long we took to get to this point.Its frustrating but we are moving forward...like a glacier haha
Smiths Fan Island Girl? ;)
Not at all, don`t tell me that was like their lyrics?!
Heaven knows we're miserable now?
T N...........In business I never joke ! ......I only ever play to win of that you can be sure !......................
@Fortitude - if this does go west are you going to man-up and admit you were wrong ?