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A few petty buys and the SP dances north - looks like new bottom reached at 1p. Any sort of buying pressure will see this fly north as the mm’s dont want to give anything away at these levels, only dropping bid to scare weak shareholders into selling - KLK own 62% and have an average above 5p you can be certain they wont be selling a dime (they’ve been pumping money into the company like its going out or fashion), neither will the directors or others. Only sellers that will temporarily bring this down are us pi’s.
- On 20 August 2019, the Company announced that one of the customers of its operating subsidiary (Libinc Oil Palm Inc.) at Palm Bay estate had confirmed the purchase of 2,700 MT of CPO, which was to be collected by parcel tanker ship from the port of Buchanan.
*one of the customers* - one would hope theres plenty more of these. News of any more orders over the coming weeks (which im sure there will be) now we’re up and running and this rerates massively.
As at 31 March 2019, LPD has a further $1.3m to draw down from the $30m loan provided to LPD by KLK as was announced on 12 October 2017. The Directors believe that a further loan will be sought from KLK in the near term.
With a further 20m loan given the following week once interims released. Plenty if cash, funded by major shareholder who’s already had an offer of 5p a share rejected. Maybe 10p would do it? All in good time.
Bbr where did you get the 1.3m figure from?
£1.3 million in the bank . Let`s hope the shipments become regularized .
Should easily be able to do this amount of Palm Oil each month , ie £15.6 million per year .
Best of all Old Pals
Yes approx 650k which would be enough to cover us until minimum the end of the first quarter 2020. Owed over 6m and a petty market cap of barely 3m. Dont need to be a rocket scientist to know why these guys are desperately talking this down.
KLK our major shareholders are sat here at an average of over 5p and own 62% of shares in issue. An offer was made by these guys to buy out the remaining shares @5p a share which was rejected as it would only value the company at 16m mc. Since then all the infrastructure work has been completed and the end to end supply chain is up and running with orders for goods now coming in.
Read through the rns releases and you will understand this is a monster in the making, govt on side and massive upside.
You are correct .
Best of
Am I correct in thinking the company has enough money for sometime so there shouldn't be a placing any time soon? Thanks