Member Info for Albatross747

There’s nothing to say until there’s something to say. No point saying much till the accounts are ready

3.5 million isn’t it? Still tasty

You can’t be serious. I can’t dumb it down any more for you.

Ok my last attempt at explaining this. Let’s just for ease say it’s 50/50. Hainan deposit 100m to kmuk and Kodal deposit nothing. That 100m is eaten up by development of the asset. The asset then starts to generate cash which gets distributed 50/50 to Kodal and Hainan. By the time Hainan have recouped their initial 100m so are back at 0, Kodal have also received 100m. That is how a 100m investment for 50% is worth 100m to the other 50%.

I know exactly what you’re saying that’s just not how this works.. if Kodal had put 100m in as well would you say that Hainan own 50% of 200m so their investment cost them nothing?

This obsession with thinking physical cash has to go to Kodal to impact value is getting laughable. 100m for 50% of a company values the whole company at? Get your calculator

Why would I be embarrassed. My point still stands. Your accounting is ridiculous. Do you discount all your investments by percentage ownership to make them feel cheaper?

Bought a car the other day but since I now own 100% of the car I technically got it for free. Bloggmaths

You’d imagine the windfall would rerate and create an exit opportunity if it was not dispersed

Expecting a KMUK sale announcement before the AGM now tbh

I could be way off the mark but I reckon Kodal sells the rest of KMUK to Hainan and uses the money to go full throttle into one of the other gold prospects

The reality is we have no idea the circumstances and whether or not the ball has been dropped. The BoD know what the plan is, there are several prospects they can’t all taken to the next level, Bernie will know which are better due to being a geology wizard, no point throwing money at one you’re not seriously looking at progressing anytime soon. Of course you apply to keep it cause why not.

Im not a fan of the company losing assets but I can understand why it might have happened and it almost certainly wasn’t just an oversight.

That shipnext website has been proven wrong several times now

Kodals accounts are delayed because KMUKs audit is delayed that means the auditors are working on it. Which means the preliminary accounts have been signed off by the board. Once the audit is finished it will be available for Kodal to use, Hainan can’t obstruct that.

Kodal don’t need kmuks audit signed off to use the audit. KMUKs accounts aren’t due they don’t need to be signed off they just need to be ready and available for Kodal to use in its audit. Hainan can’t just sit on them to force Kodal into a problem

Delayed but expected before deadline. There was an RNS quite recently

Because they’re not expecting to miss the deadline…

“ The directors of a public company must lay before the company in general meeting copies of its annual accounts and reports.

This section must be complied with not later than the end of the period for filing the accounts and reports in question.

In the Companies Acts“ accounts meeting ”, in relation to a public company, means a general meeting of the company at which the company's annual accounts and reports are (or are to be) laid in accordance with this section.”

No specific need for it to be the AGM

You literally posted “in a general meeting usually an AGM”. So a general meeting will do? Like the one they say they’ll hold after the AGM in the RNS

They’ve said there will be a further general meeting for the vote so no they don’t have to have them published 21 days before the AGM