Member Info for ALB1

LT, if the summit consortium's promised financing offer does not materialise,,, then I'm afraid it's game over as the RoC will remove the mining licence. This is is Aim for you !.

LT, fair point. However for me this is the delay... the financing part. The EPC is a delay tactic and the minister probs thinks the same. We can only wait and see if the summit consortium's promised financing offer materialises.

.... Further to this the big holders can easily manipulate the SP, they have so much stock!. The BOD will know what's going on here hence the minister's actions.

IMO, the EPC delay is a smoke screen. I believe It's done however the finance part from the summit consortium is the hold up. IMO if the summit consortium are genuine (and they may not be) then they will want total control, why would you put up $1.8b otherwise. If they are genuine they may seek a buyout, they already have a good 55% plus of the coy combined so not much to fork out but they will want it cheap!.

Barravelli, appreciated... I may have called it right a few weeks back however it's 50/50 now on finance etc being approved. If so however then this could easy 10 or even 15 bag in time,,, if not then there may be some sale value or could even go bust tbh!. AIM is always a gamble.

The big holders may have some clout here though so good luck all round. Cheers

I've now bought in .

For the brave.

Only require about £5m (or less) between themselves to take this over in total!.. Amazing

LT,
'At the end of the day, this is Africa and if the RoC Gov wants the license back it will just take it and worry about the consequences later'.

True - and who can blame them (the RoC). The Summit consortium either want to provide the finance as they repeatedly say/have said? , or they have changed stance and don't want to... Kind of a final make your mind up time I'd say.

Lol, can't see how arresting senior members of staff and issuing a warning notice (probs a licence removal notice) can be so positive,,, but hey just a thought.

1. The project does indeed go ahead (currently can't see anything real positive though!)
2. Bust

Barravelli, let's hope that if the licence etc is removed then SEPCO and the consortium don't get it!... I'm with yourself on this though ,, this is either a cheap give away or bust now. Something I predicted weeks ago. Realistically it's the consortium who hold the cards here, and with the 2 big holders only need a few million to take control (around £7m). Cheers BOD.

Barravelli, lots of shock for some posters on here, allthatguff and johnnyy etc, however something always seemed wrong here and even the minister of mines has sussed it now. Let's see if the CEO's latest statement is true and genuine progress is being made on the finance as it's that what's got the Minister worried and not the EPC.. If it's not genuine then the licence and asset is lost. To get to this point though may leave too much bad blood for a positive outcome. Not enough actual facts coming from the BOD here to assure folk. Let's hope they don't do a runner with the £7m cash left lol.

...imo, the consortium haven't the means to finance this, hence stalling matters. Thus interference from the MoM, who has basically put kore & the consortium on notice. Simple!

Cannot blame the minister of mines here at all... and a formal agreement has been made back in June (along with others). An EPC has been delivered as per FIDIC silver book (2(nd) Edition 2017) conditions of contract. but the BOD are now questioning it!.

SEPCO have delivered here, it's the BOD and Summit consortium now playing games,,,all to the companies peril.

Shocking imo

Or lower...Soon!

Require replacing imo. Why with hold the issues around the EPC sign off?. Cannot blame the RoC Gov on this as they signed to the HoT and expect much better. Brad disappeared is the red flag, absolutely no investor comms. Shocking!

Hope johnnyy is looking in... Lol

Looks like you were all proven wrong..... Did try warning you all. Hey ho

I suggest people email Brad and ask some hard questions... I cannot blame the gov here, they have been patient enough. The BOD NEED to be upfront and explain the hold up's.

As stated in the RNS 27/6/22.

15. Project Funding

The Directors of Kore have formed the view that there is a reasonable basis to believe that requisite future funding for development of the Kola Project will be available when required. Kore shareholders should be aware of the risk that future funding for development of the Kola Project may dilute their ownership of the Company or Kore's economic interest in the Kola Project.

Watch and learn!