Member Info for 165zephyr

TBF to the BOD, they have said they might be able to offer some shares to existing holders, so I am hoping they earmark some for this purpose.

If offered, I'd certainly take it up.

@Bannor - was in exactly the same dilemma this morning.

I have, therefore, taken a fresh look at the situation and I think we are at a crossroads. Our message was loud and clear at the last round of voting, so it's certainly had an impact. The challenge the BOD has (and I'm not defending their abysmal performance) is that not a lot of shares are expected to be taken up - remember the bulk of the LTHs are sitting on huge losses and won't be keen to average down. Then you have a bulk of other folks that are just day traders. So if existing shareholders are offered shares, there is a risk that they will fall short. Add that to the fact that pre-emptive offerings are more expensive to run.

I have started to feel a bit more confident over the last few weeks/months, so want the deal to go through and enable the azteca restart. For me this certainly does feel like the last roll of the dice for the BOD - they'd better get this one right !

I have voted in favour this morning - each to their own.

Trying to list out events expected from here on, particularly ones with positive impact to SP:

- Definitive agreement signed with offtaker

- Issue of licenses

- Commencement of works to recommission Azteca (including the archaeological study + design for sewage systems etc.)

- Azteca restart

- On top of this, any deal on the wider Amapa project (JV/buy-out) would be a massive plus.

And then the not so positive events would be

- Any dilution to fund our 10-15% part of the deal

Missed anything?

The SP has broken 1 resistance level on this set of news.

Think we're getting there slowly - 1 resistance level at a time !!

Yes that would be one option, though one could argue is now the best time to sell EG1? But wait, aren't we in a lock-up period?

Good to finally see some positive (and tangible) news, which I think initially was met with some skepticism, but eventually converted to enthusiasm. High volume traded today (over 5% of float) and the highest since July 2024. At times there were no quotes which felt like demand was outstripping supply.

As to the mystery around the offtaker, its not Glencore is it as it's Swiss (or Anglo-Swiss to be precise). Nonetheless, would be great to have a big and established name in the frame, though due to desperation, I'll take any name.

Coming to the Azteca 'idea', I note this was only recently floated and makes me wonder if this was the offtaker's idea? Regardless of whose idea it was, I think that in the absence of a buy-out, this does feel like the next best option. With the HoT now agreed, this does fill me with a lot of confidence and finally provides the credibility that KDNC so badly needed. Hopefully onwards and (exponentially!) upwards.

But one question still remains which is how would KDNC finance the 10-15% of the deal? This is a good $460K - $690K - more dilution coming our way?

Finally, today's share price would've brought some respite to the LTHs, but I'm expecting there is a long road to recovery for most.

Good luck to y'all !

Why don't they ever disclose the identities of the investors?

Goes to show the power of PI's if we stick together - thanks Bannor for spearheading this. Indeed a better than expected outcome.

Was anyone there to witness proceedings?

TC14 - Keen to attend (though already voted online). When is the AGM, and where precisely? Are you going to be there?

@TC - you could look up webpage history here:

https://archive.org/

As of 30th May, there was no mention of Lynchwood.

And this makes me nervous:

https://offshoreleaks.icij.org/nodes/12123341

I also don't recall seeing Lynchwood nominees before. Could this be the new "sophisticated" investor, and since they are a nominee don't need to disclose?

On a separate note, I also noted the following on our website:

% of Securities not in Public Hands --- > 3.79%

Could this mean stocks held by the treasury? I didn't think they held any so what could this be?

Alright, just voted against 2, 4 and 5.

Why do we never get to know who the investors are? Today is a repeat when we are told "single sophisticated investor".

Why the secrecy?

Also noted this for 100K shares. Small profit to be made each time provided no trading charges on your platform.

... in share price, new finally incoming - I certainly hope so !!

GLA & DYOR

What makes this even more interesting is that Buffett has been an investor in Itochu, and has recently (March 2025) further increased his stakes.

https://www.investopedia.com/warren-buffett-raises-stakes-in-5-japanese-trading-houses-11698204

European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) shares jumped 9% after the Czech government designated its Cinovec lithium project as a "strategic deposit" - a move expected to speed up development.

The new status streamlines permitting and approvals, reducing red tape and accelerating key processes such as environmental impact assessments.

Cinovec, Europe's largest hard rock lithium deposit, is seen as crucial for the EU’s push for greater energy security and a local supply of battery materials.

https://www.proactiveinvestors.co.uk/companies/news/1067560/european-metals-holdings-up-9-after-strategic-deposit-designation-1067560.html

@EV_Bull

Thanks, and yes that might make their options drama "Kosher", though I too think its neither here nor there (probably border line criminal !).

It's all been a bit rushed, and seems like the BOD do not have any hope that their 29p options will come good. Either way, it does feel close, and the share price has been steady, which is a bit of a (pleasant) surprise.

The options clearly haven't been exercised, it got to be an error. Not only have the LSE team got this wrong, but someone can't count either:

Donald Strang has never been the largest shareholder amongst the BOD. Post transaction it's showing he holds 9,917,545 shares, which is clearly wrong.