Member Info for CF73

That's all that's going in here. Paperwork, making sure everyone relevant knows what's going on, and what's to happen following the JDA (PPA, FC etc.). This isn't a simple deal. But the parties have been working effectively bring us to this point. Looking again at GEs situation, cannot see how they don't want this to happen. The deal at Lamu is faltering. The extra work here must be to ensure a thorough grasp of technicals, the process and the responsibilities. That's all I can deduce. As I've said already, as far as I'm concerned, in ptinviple

Was a buy. We're about to pop into the 0.20p range Good luck all!

Was told that that information regarding investors holding on to their placing shares wasn't usually included in Placing RNSs. Podcast due I believe, where this should be explained.

Fatsuperman, thanks! That's useful to know and fits with what I learned. Means that that placing is value accretive as the SP will not be decimated and that we're free to move on buying. Once this sinks in, will have a huge effect.

...hadn't thought of that...sounds very possible :-))

100million between the two of you?!

Good luck me ol mucker!

Who knows who bought the shares but given we stayed above placing price, with placees seemingly not headed to the door with immediate effect, or given no signs of any forward selling, shows whoever has them is pretty much holding on to them -- at least for the moment.

I believe that there may be podcast soon, where more might be explained. I've asked for confirmation around whether or not the Placee[s] were an investor, holding for the longer term.
They saw the value in making informing the market of this (though saying that it was not necessarily the place of the initial placing RNS to provide that kind of clarity/additional information). If it is a single investor or a small number, we may learn of their identities as a result of their crossing thresholds.

We shall see.

Good luck all!

Aeasty, know what you mean about the wait being hardest as you near conclusion. Well done on those millions of puppies. You're going to need NCCL to come in to feed em all ;-))

If what I have picked about placing and institutional investors is to believed (and I do believe it to be the case), about those placing shares being in hands of parties holding for the long term, who are investing in PREM, then the 6% dilution doesn't worry me. Previosly, placing shares were forward sold and/or dumped straight into the market. This time, the placing is value accretive. Placees to hold on to their shares. So no decimation of SP. I think we can already see there's been no onerous dumping into the market.

Once this sinks in, we should motor very quickly. MMs messing us around is based upon uncertainty and there being masses of shares washing around. With the right news - as we have had - some of the previous slack (shares from placings) will finally be mopped up, as news brings new found confidence.

Good luck to all the genuine muckers and LTHs here.

Ayup me ol mucker Steven. Not long to go. As Hanno said, 'All materials prepared' (these must be the necessary JDA documents) for those meetings and, I would guess, then sign-off.

They also said that they would be discussing PPA and FC at the 'early August Workshop' (which I believe has happened by now). So when they announce JDA, we will also hear about PPA and FC timelines.

Naturally, this is important to all concerned parties but I would imagine its a biggie for GE as the need to demonstrate to the market that they have a genuine strategy for turning around their power division, especially given their bet on coal (it's a safe bet where emerging and developing markets are concerned, where countries still haven't industrialized but where growth potential is enormous i.e. Mozambique only 28% connected to grid).

Ledsparky, me too, hoping that we're moving from historic poor performance and difficulty and can look forward with positivity.

IQ157, excellent series of posts , much appreciated!

Placement – The difference between this and other placements is that this placement has been done with institutional investors who like the story and will be holding on to their shares. This is a marked difference to the forward selling and the bulk offloading in previous situations. Means the dilutive effective is minimized and that this placement is genuinely value accretive (folks need to accept we needed the money – indeed, company had said some while back that an amount in the order $650, 000 was required).

RHA – They are in JV talks. But to improve JV possibilities and terms, they need to do the prep/drill work at RHA, which this Placement money will be used for. Offtakes potentially connected to these very same JV parties. Those discussions remain ongoing. They are serious about returning to operations/production in weeks.

ZULU – Due Diligence going as it should. That’s all they could say (as news potentially imminent).

CIRCUM – They are looking to IPO this year. Looking to raise $800million. $300million debt. $500million equity. They have been/are in China working on this.

I am conveying what they have said to the best of my own ability but folks need to do their own research.

Actually, when you have the kind of monies to afford 10million in one go, it means you have access to the market that allows you to get better prices than most.

...was a buy...

Indeed Chippy, it was in the public domain that we needed that money.

Exactly MrPositive, that £750, 000 is there during our transition phase to ease us into the period where we are able fund / capitalise ourselves through the revenue we generate.

Patience as always but does seem things are turning behind the scenes.

The funding today suggests there is possibility that we may keep all of our 90%. However, if we bring in a JV partner for RHA, I can see how proving up RHA is crucial for getting better terms for that joint venture. Any further capital brought in by a possible RHA JV with partner can be used across the portfolio (including to further support the development of ZULU.

Offtakes to be announced too. These have been waiting on the sidelines.

Whichever way, we are in a position of strength at the moment.

Agreed Chippy, we needed to do this drilling. Before, we were mining blind in order to move things quickly. Such is AIM.