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Instead of thinking INFINITYX that they spend more than €10k on exploration per annum, research !! Every annual result is in black and white. Circa €500k running costs. Next to nothing spent exploring the licenses, millions owed to board who keep company solvent by not taking wages. Prof takes shares to cut debt in fundraisers hidden until results published. It’s all there just research.. RTZ had licences and didn’t renew the agreement with KDR maybe RTZ spent more in months than KDR have in 20 years and RTZ relinquished them as nothing economic. Lahtojoki was brought for initial €50k if so sexy why was it sold so cheap!! 2 past companies spent millions and failed, again just research. Lahtojoki had zero new exploration in years it’s a big pond that any serious exploration company would drain and drill as did the past 2 encumbents that failed
99% loss since inception due to massive discounted dilution. You can have a 100 licences but where’s the value when a company spend €500k on wages and €10k on exploration. Diamond exploration costs millions and only drilling and bulk sampling can lead to commercial discoveries. Lifestyle company, the bod get a large salary for so little exploration
Riihivaara Was that good zero spent on exploration since just loads of new licences that cost next to zip. Rio were that impressed with results and years spent spending next to nothing on exploration they didn’t renew agreement. Remember the Prof won’t ever refuse a fundraiser regardless of shareholders dilution
99% loss since inception, 50% loss over 6 years from constant dilution
Circa 500k annual tuning costs
Circa £20k exploration annual spend
Millions owed in remunerations to board
Is this really a serious Diamond exploration company or a lifestyle company for the board
Well known the company is insolvent except for the fact directors defer wages owed. CGNR investment and Conroy topping up likely zero cash just a small chunk of deferred wages owed keep Conroy in control as majority shareholder. Annual running costs around €500k for an exploration company that spends €10-€30k a year on actual exploration. What do you really expect them to find with a tiny exploration budget. Clever rehashed past exploration from previous encumbents at Lahtojoki has got new investors excited when the fact is next to zero new exploration has been done since Lahtojoki was purchased for £50k initial payment. Dilution Dilution Dilution to cover wages, if wages not covered then defer to keep solvent, then top up shares to keep control using deferred wages owed rinse and repeat
“Nobody knows the future. Lhatojoki is worth the market Cap and more”
The rights to lahtojoki were purchased for the same price as a decent family car!!
What new exploration has been done? To increase value
Re Mozak “RE: Morgan StanleyThu 18:13
The Directors have put plenty of their own money in here, more than £2 Million.
They all own plenty of stock, “Skin in the game”.
Directors in particular Conroy when you look at end of year results actual fundraising in past has not produced the cash as Conroy keeps control by taking part in placings using money owed to him in wages” every year the millions owed in wages are deferred to keep the company alive otherwise it would be gone!!! Then Conroy will use wages owed to take shares to keep at the helm of the gravy
Clearly states tiny mine no major would be interested but hoping to attract a smaller JV partner. Good luck with that on a twice failed project. Company have to drill, find diamonds and bulk sample with an huge improvement on past results to attract a partner IMHO. All this takes serious money!! KDR are millions in debt and have virtually no market value. Any more dilution to shareholders at this level will just go towards paying the boards millions of wages owed and maybe keep the lights on while the board continues to defer wages in the annual return.
What’s not to like 1/4 company diluted for £250k wage bill and running costs £500k millions in debt, spend next to nothing on exploration Oh and the current site twice proved uneconomic by big players that bulk sampled. Only a few years ago 25-1 share consolidation nearly back to that price. It’s rinse repeat & dilute pay wages.
Did other companies find Pink , Green and coloured diamonds, 90,000 carats per tonne , outstanding , world class , go for a long walk , have a rethink on what nonsense your spouting next .
Allan are you serious ??? Other companies found them all not KDR and over 20 years ago.
KDR have never found a single diamond of meaning in 20 years as they do not spend on exploration read the annual statements!!. A spec of sand size green diamond apparently found in a till sample 7 years ago at the side of a road is there last diamond find
You could be sat on anything but when your company spends pennies on exploration and licences what chance you got!!! Past companies spent more in a few months than KDR have in 20 years. Another 25% off company diluted when books need balancing your a going concern for one reason WAGES ARE DEFFERED leaving millions owed and to find diamonds you need to drill!!! Anyone can collect licences and send obvious rocks of for sampling and rehash old results to look sexy. Fact is KDR in my opinion have done no meaningful drilling and made no new discoveries of worth