Member Info for 99icecream

Wrong link.

https://www.msn.com/en-us/money/markets/gold-jumps-as-goldman-reasserts-3-000-target-for-2025/ar-AA1ujSGU

Positive Gold price outlook for CNR sale.

https://www.goldmansachs.com/insights/articles/gold-prices-forecast-to-climb-to-record-high

Same thing happened on Friday approx 2 million traded at 4.02p.

Its the closing auction, not a buy or sell from the market makers. So its a buy and a sell. Both sides get much better prices than they would otherwise.

Indeed !

The reason that Annual Report is mentioned in the meeting notice is a formality that shareholders "accept the report"

Motion 1 - To receive and adopt the Companies financial statements for the year ended 31 December 2023 .... etc.

Nibj - The Annual Results come out 6 months after year end, so with year end 31 Dec 2024 we get the 2024 AR in June 2025.

Looks like we are waiting for Mr Oba to to return from Algeria ?

https://algeriainvest.com/AlgeriaIC/public/en/premium-news/pierre-oba-le-congo-veut-beneficier-de-lexperience-pionniere-de-lalgerie

CATBERT - They have a habit of seeking the authority to issue 2/3 approx new shares at the AGM, nothing new here.

I would say at this point EML are acting with impeccable restraint. They are doing the absolute minimum to embarrass the Moroccan Government whilst leaving them in little doubt of the consequences of not sorting this mess out ("walk softly and carry a big stick"). Getting the ESIA accepted must be the better option at this point and its better to give the Moroccan Government a couple of months to resolve this, before moving to the ICSID option.

BTW - Having a project construction contract with cost/time guarantees in the developing world is a very rare thing. There are several examples of projects that have failed due to cost overruns and delays (e.g. Horizonte Minerals). NPV calculations for KP2 will be at much lower rates as a result of the guarantee.

I suggest a move to the main market (aimed at bringing institutional investors on board) will be another major milestone and will lead to a further re-rate. AIM has a terrible reputation at present.

To be clear I am expecting that Moroccan Government will instruct the local CRUI to issue the approval of EML's ESIA, thus averting any need for the Government to pay a settlement.

Initially, the EML share fell so low because few understood that EML would have a good case at the ICSID. Nor that they could get (no win no fee) funding for their case.

RIDER75 - Nothing to see here yet. On 1 Nov, EML issued Morocco with a notice of dispute, in effect saying that they will seek compensation at the ICSID if the dispute is not settled before hand. IMHO the case is very strong (as noted by your Marcin Michalek) and the value is very large ($ 2.2 Billion) so I expect it will be quickly resolved without the need for the ICSID. If not resolved the first we will hear is when EML obtain (no win on fee) funding to take their case to the ICSID.

If we could somehow trade knowing that the deal had been signed, but not knowing just what was in the deal then your 6p might be correct. However, we can anticipate a reasonably detailed description of the deal (similar to RNS 27/6/2022 - Kola Project Optimisation Outcomes) together with reports from the "teenage Scribblers" (as Nigel Lawson termed London Analysts) with their estimates of risked and unrisked NPV's. It will be this information that will drive the new share price.

My view is that 6p will prove to be very cheap.

Don't know about a favourite - he's a cousin.

Indeed C-B didn't come up with the cash, I wondered if that was due to the signing of KP2 being delayed.

Do you think Congo will put their share in KPM into this "fund" and borrow against it to pay off Sundance ?

https://www.mining.com/web/sundance-settles-dispute-with-congo-republic-over-iron-ore-project/

That is from the KP2 RNS 27/6/22

From memory yes, they RoC get a profit share and there is a minority interest that gets another 3%.

From 27/6/22 (Page 1)

"Kore Potash, the potash development company with 97% ownership of the Kola and DX Potash Projects"

From 27/6/22 (Page 25)

"Congo Government receives 10% of the shares in KPM which owns the Kola Project."