Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think the umbrella agreement is significant, and the to-do list in that RNS wasn't Herculean, and everything should be ready well before the end of the year (ie, October), but it's true there is enough time between now and then that people think there's plenty of time to buy in before that.
Those orders on the ask could just be those trying to take profit now from stuff collected from those deep dives down into the 0.50s. There hasn't been a single trade in the book today so far. (Very similar to yesterday, where there finally were a few.)
"chasf. Just so I understand what you mean by 'so much on the ask below 0.70'"
Bid is the buying side, which is currently clustered round 0.60, ask is selling side, with a cluster round 0.66, about 1.9m, including 1m at a single price (might be several orders in there).
"I've noticed you've changed your tone a little."
Further exploring in new SA fields is surely going to cost something. They're relying on the warrants to fund various things, but they're currently nowhere near being useful. I'd be happier to be well out of the 0.60s by now, though. It seems a strange level at which to be stuck. That's why I sound slightly nervous. Still, it's only a fortnight from getting the umbrella agreement done, things seem to be going well in TK land, and I imagine there will be significant things announced in a week or two.
It's funny about the RSI: I've always used a different set of fancy-pants indicators, but a glance back a mnth or two at the board with the RSI displayed suggested it was naive to use a sophisticated measure with this one, and indeed the sophisticated approach was to use the naive (umm, "straightforward"?) indicator. (Don't worry, I never used candlesticks, or pregnant emojis, but I am fascinated to follow British Bull's observations.)
It's not the MMs doing it. It's fairly easy to do, just keep hitting the bid, but intra-day RNS (which have happened here) or just sentiment change make it so risky to drive it down to support a CFD/spreadbet on (say) IG that I wouldn't even consider it. Even the "guaranteed" stop-losses have, for obvious reasons, enough qualifications that it can go badly wrong. I suppose the mumbling in the boards is intended to put off retail punters. I don't really mind, because at no risk to me, someone else is lowering the price significantly, and you can just trade that.
I think you're confusing the report by the security consultants, which has been completed successfully, indeed by the end of June 2022, and was a condition for doing anything, with an action for the EG to implement the things that have been agreed (or confirm the implementation if already done).
"Last Jan'22 a security team was set up, this security report is yet to be closed. This report was due end of June'22."
One of the things to do, listed in the Umbrella Agreement RNS is "ยท to document the positive outcome of a successful inspection last week by independent security experts and to finalise with security authorities the requirements for Project launch at the start of the Ethiopian dry season in October 2022;" and the GM statement RNS included a compliment paid by the security company to KEFI, so all that seems to have been concluded successfully. Hence the signing and project preparation.