Member Info for Barravelli

Or insane

@LT following on from your comment about inflation I've copied this from June's RNS:

"Prior to commencement of the Optimisation Study SEPCO set targets to reduce the capital cost to US$1.65 billion and to shorten the construction schedule by 6 months. The Optimisation Study achieved the targeted reduction in the construction schedule. Despite identifying significant cost savings of US$520 million, the targeted capital cost of US$1.65 billion was not achieved mostly as a result of a higher than anticipated inflationary environment"

@ALBI In terms of finance I don't fully understand how this is to be sorted to be honest. Will the consortium raise the money and give the money to SEPCO, or will SEPCO build it for nothing up front and take payment royalties/principle amount when mine is earning? If it is the later then SEPCO has all the leverage. The lack of info from Kore resulting in this subsequent speculation is criminal, how are we as owners not being informed on what SEPCO is demanding in the EPC? 3 outcomes realistically now are a sale and get minimum of 1.5p (my buy in price) or above, we lose licence and lose everything. Or finally everything comes good (least probable) as i can't see SEPCO dropping whatever demands they are making especially if theg have the leverage. Wildcard is another engineering firm comes into play and we can stick 2 fingers up to SEPCO.

The best case scenario here is to sell the company amazed at the posts trying to take a positive stance about this. Kore has zero leverage at all in this matter we have done the hard work in terms of all scoping, feasability studies etc now it's time to turn it into a mine the big boys are here to take it off us and if we don't give it they will take it away by removing our licence etc. Sad day.

@Labad & @Alarno love your positive outlook all the time guys, dog s**t company with next to nothing value and your both always so optimistic. Big respect to you both.

These contractual issues I think have been known and discussed for some time now and the RNS is because they are at an impass and it needs to be escalated to Power China. This epc was supposed to be in August so if it was to be delayed why not announce it then? Covid doesn't stop billion dollar business deals. I think a sale is highly probable as we have no leverage and SEPCO know this, they can run down the clock.

If we don't get positive news next week sub 1p is definitely in play.

It is. Think is there's a lot of people doing it, Specsavers do it. It will be another pie we will have our fingers in that brings something in but it won't be our niche or impact the share price. Hope I'm wrong though.

I hope you're right Alarno.

We're a jack of all trades master of none company.

Gonna be a long month.

Thanks. Seems pointless though. Might as well keep suspended until consolidation has gone through. Will definetley drop quickly.

F**k didn't know you couldn't sell them. Was seriously thinking about cashing out. When will we be able to buy/sell again? Why can't we now?

It hasn't consolidated yet so the rise is very much real. Checked my HL account today. Probably will drop though in near future.

We definitely need a new direction now that covid has slowed. Will blood tests be our new niche? Definitely isn't CBD anymore. Not a mention of money generated through CBD sales.

Brilliant top up price

Does anyone know if consolidation will be completed during suspension or is that later?

There will be no more delays with this either all goes to plan with EPC and finance or buyout.

I get the impression he's been burnt with shares in the past. Possibly another potash company.

I'd be surprised if we did a share buyback now. Getting rid of 90% of them will take us to just over 30 million. I think the consolation may have replaced the buyback strategy. For a company to be a plc it must have minimum of is shares 10 million so not a lot of meat on the bone