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the eternal question rears it's head again; to buy in the market first thing tomorrow, or wait until the financing details have been announced?
The supposition has always been that the new shares would be issued at around 85p, so the current price is a bargain. However, the iis may have demanded a lower entry price this time around, hence our recent sp reduction. Who knows?
I guess I'll make my mind up in the morning.

TC, the article also states that Hanwa want to inject an additional £15m.
HoH, it would be great if we get news about accelerating the development of the jvs and one assumes that if the Omani investments comes with an off-take agreement, they will want product sooner rather than later.

btw, in my opinion, this was deliberately leaked in order to stop the declining share price.

The article (front page) goes on to state that Hanwa are looking to inject £15m.

on the KDNC page alerts us to a snippet from the Sunday Times. It's very exciting news!
I think we can anticipate a good reaction over the coming days.
Looks like our time has come.

Very exciting news! The sp will react accordingly tomorrow.

Prem is an unmitigated disaster for me (and many others). The only reason I haven't sold is Zulu, and the sincere hope that AIM's biggest buffoon can't possibly balls-up such a good asset. Or can he?
I rather suspect your boys will want to keep a pretty close eye once they've raided the piggybank.

By the way, and to repeat myself from a few days ago, Roach has extended the timeline on his loan to Prem to allow KDNC to get their hands on the cash. That cash is coming from somewhere and, to my mind, that somewhere will be BCN...in one way or another.

I don't see it playing out like that.But what do I know?
I think there are many balls in the air at the moment and many potential permutations. These range from the structure of the funding package to the sale of Sonora (keeping Zinnwald), to the outright sale of the company (many of us have argued that one of the optimum times to sell would be when funding is place but not drawn down, and before construction commences.)
I guess we could, and have, spend forever churning these possibilities over in our minds. I know I have. I think all we can say with certainty is that details will emerge soon and we're pretty sure to be surprised.
Falling back on what Secker said years ago about not being an operational bloke, I've always been of the opinion that he'll sell, and this is a view I hold about the institutional investors as well. If I were him, and assuming the buyers really are out there and are offering a price that truly reflects the value, I'd sell Sonora, pay out a huge divi and keep cash back to take Zinnwald forward. Indeed, if he kept enough cash he could buy Zulu and do a proper job of getting it going, rather than leaving it to the hapless and utterly useless, George Roach.

Guess what my reply's going to be.

No.

No.

Funding discussions take a long time...negotiations to sell a business take even longer.

theiceberg, I sent an email to the company about 6 months ago asking if they would consider going down the OO route. I didn't receive a reply, which is unusual as they normally do respond.
I think we can assume the Q2 deadline is not going to be met.

The sale of BCN.

coop, and I don't necessarily disagree with you.
But the fact is, both directors and significant shareholders are ALWAYS tempted by attractive offers. Take the money, move on and let someone else take the operational risk.

Here's the theory:
The loan has been extended to allow KDNC time to get their hands on the cash(they have none at the moment)
These funds will come from the sale of BCN.

I also note that the directors loan at PREM has been extended, which is obviously designed to give KDNC more time to raise the ante. In other words, they'll need time for the cheque to clear from the sale of BCN! They don't use BACS.

Interesting point, Kluck.
It's difficult to see where else they'll find the cash....without another huge dilution or dodgy loan deal.

we may feel about the nature of our new partner, the simple fact is, this deal has saved our bacon.
Without question we were on the brink of insolvency and as a number of us said at the time, the GR loan was simply a tide-over (Wonga style) to get us over the line with an investor.
Being so far under-water, I'd decided there was no point selling. Now we have the funding, I maintain that stance. It's obviously worth waiting for the DFS because only at that stage will we attract some serious interest.