Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I only see the same people ramping I just provide facts. Enlighten me to what I’ve provided that is deramping??
Answer 1. Are the company circa €1.5m in debt?
2. Does the company have zero income?
3. Are loan notes owed at 10p in 2022
4. Does the company cost circa €500k to run annually
5. Have the company done zero drilling at Lahtojoki?
6. Have past companies spent millions on drilling and not been able to attract investment on results?
7. Have past companies gone bump at Lahtojoki?
8. Are KDR rehashing past results as if they have done the work?
9. Do directors take shares as part wages owed at discounted prices in placings to keep their holdings at a level to keep them in control of the company?
10. Is the board made up of friends and family members?
11. Do the company spend just a few thousand a year out the €500k it costs to run the business on actual exploration?
12. Are original shareholders at inception sitting on a 99% loss?
13. Have any diamonds of jewellery quality over 1 carat been found at Lahtojoki
14. Did KDR pay just €50,000 for the rights of Lahtojoki with a further €100k plus royalties payable if KDR decide to open a mine?
15. Is KDR funds so low that a fund raise will be needed to cover the annual circa €500k running costs this year?
I can go on but the aboves enough for me to know that a major would in my opinion have little interest in KDR
If I’m reading below correctly over €1.5million in debt with zero income. Little to no money in the pot and costing around €500k a year to run. Loan notes due to be repaid at 10p this year with a share price of 2.7p
No new exploration via bulk sampling or drilling Lahtojoki
No Diamonds bar ones found from previous companies that spent millions on failed JV and these diamonds were micro/macro nothing over 1 carat
DYOR guys facts are out there on the financial state of the company.
Results for the year and state of affairs at 31 May 2021
The income statement for the financial year ended 31 May 2021 and the statement of financial position at that date are set out on pages 23 and 25 respectively. The loss for the financial year amounted to €422,192 (2020: a loss of €446,710) and net assets at 31 May 2021 were €9,495,866 (2020: €9,126,781). No interim or final dividends have been or are recommended by the Board of Directors.
The Company is not yet in a production stage and so has no income. Consequently, the Company is not expected to report profits until it disposes of or is able to profitably develop or otherwise turn to account its exploration projects. The Directors monitor the activities and performance of the Company on a regular basis and uses both financial and non-financial indicators to assess the Company’s performance.
On 10 December 2019, the Company entered into a convertible loan note agreement for a total amount of €145,829 (£120,000) with one of its shareholders. The convertible loan note is unsecured, has a term of three years and attracts interest at a rate of 5% per annum which is payable on the maturity or conversion of the convertible loan. The conversion price is 10 pence. The shareholder has the right to seek conversion of the principal amount outstanding on the convertible loan note and all interest accrued at any time during the term.
Current liabilities
Trade and other payables
Accrued Directors’ remuneration Fees and other emoluments Pension contributions
Other creditors and accruals
Amount due to related party €1,435,901
Prior to the various placings of shares, the immediate funding requirements of the Company had been financed by advances from Professor Richard Conroy (Director, executive chairman and major shareholder) and Maureen T.A. Jones (Director, Managing Director and shareholder). There is no interest payable in respect of these loans, no security has been attached to these loans and there is no repayment or maturity terms.
*On 27 May 2021, Professor Richard Conroy capitalised loans amounting to €85,979 (£74,000) into 1,850,000 new ordinary shares of nominal value €0.00025 each. On 27 May 2021, Maureen Jones capitalised loans amounting to €6,971 (£6,000) into 150,000 new ordinary shares of nominal value €0.00025 each.
**This amount relates to a loan provided by Maureen T.A. Jones to the Company.
How will KDR attract a new JV partner to spend millions for a share of the Lahtojoki pit (size of a paddling pool compared to many profitable mines) Lahtojoki has had past mining permits, Lahtojoki has had millions spent on more than 2 past failed ventures/joint ventures over the last 30 years . KDR have not done any further new bulk sampling and KDR payed just €50,000 initially for the rights. What on earth makes this an attractive joint venture for anyone?
You may also want to look at the past JV between Mantle and Firestone diamonds on the lahtojoki pit. Millions spent on exploration. Actual diamond experts involved in that failed joint venture. What are KDR going to do any different without current funding when past JV has failed which was funded in the millions.
From 2004 nearly 20 years ago. Note this company found a second kimberlite which KDR are apparently looking for after finding a Boulder
28 April 2004
Lahtojoki Diamond Claim
European Diamonds PLC (EPD) has entered into an agreement to acquire the
Lahtojoki diamond claim in central Finland.
EPD has confirmed that the Lahtojoki claim contains a diamondiferous kimberlite
which is approximately two hectares in area (250m x 100m)
Previous mini bulk sampling of this kimberlite (approximately 1000 tonnes) in
the 1990's returned non-economic grades, however a re-evaluation of this
sampling by the company has concluded that this mini bulk sample did not
adequately test the kimberlite.
On the basis of this, and the fact that a previously collected 23 tonne drill
sample from the Lahtojoki pipe returned macro diamond grades of 0.21 to 0.45
carats per tonne indicates that the pipe warrants a re-evaluation. The Lahtojoki
kimberlite is now known to contain good clear white stones with some rare blue
and pink fancy colours. Stones of up to 1 carat in size have been recovered from
the very limited reliable sampling that has taken place to date.
EPD has also identified at least one additional untested kimberlite on the
Lahtojoki property.
Roy Spencer, Chief Executive Officer of EPD, stated today
'Our work across the Karelian Craton over the last 5 years has highlighted the
Lahtojoki area as a target for economic diamondiferous bearing kimberlites. The
potential of this area fits in with our new regional interpretation and confirms
our belief that the Finnish part of the Karelian Craton is extremely prospective
for diamonds.
We plan to complete our re-evaluation at Lahtojoki by further drilling and
sampling, coupled with additional geophysics over the next few months, leading
to the start of a full evaluation and feasibility programme later this year. We
are now confident that we have a significant kimberlite target with economic
potential at Lahtojoki.'
Lahtojoki is located 45 kilometres from the regional centre of Kuopio in central
Finland in an area of excellent infrastructure.
Acquisition Terms
EPD has paid the vendor (a privately owned Finnish Corporation) €100,000 to
purchase the claim and related data. On proceeding to full evaluation, EPD will
make a further payment which will be settled by the issue to the vendor of
130,000 EPD ordinary shares and €50,000 in cash. During the evaluation period
EPD has a maximum expenditure obligation of €250,000 per annum. On completion of
a feasibility study EPD will make a further payment which will be settled by the
issue to the vendor of a further 150,000 EPD ordinary shares.
On commercial production the vendor will be entitled to a royalty varying from
1.25% to 3.5% of the volume of diamonds produced.
KarelianDiamond Resources Plc said April 19th in 2016 that it has entered into anagreement with A & G Mining Oy to acquire the mining permit over theLahtojoki diamond project in Finland for €150,000. (Small change)
Additionally, a royalty of 1% to AGM is payable either indiamonds or cash on the diamond production of up to 2.5 million carats, while a2% royalty is payable on diamond production above 2.5 million carats.
Karelian plans to review the exploration and feasibilitywork conducted to date at the project and carry out any further studies, ifrequired. (Works done by past licence holders who both went bump and could not attract finance)
So 6 years later what work have KDR actually done of their own? Answers on a postcard please
Wouldn’t surprise me!! was at just over a penny after the failed takeover. Company may well get a mining permit but the PEA is rehashed from decades ago from 2 companies that couldn’t attract a JV that subsequently went bump. I don’t believe KDR have put a single drill in the ground at the lahtojoki site. Shareholders should look at Annual report to see exactly what was spent on exploration at Lahtojoki and ask what work KDR have done there in the last 10 years. Serious costs in the millions will be involved to prove up and machinery to complete bulk sampling. The Lahtojoki site is so small I would be surprised if a Major would be interested unless new bulk sampling and drilling results show something extraordinary. KDR brought the site for around £100k small change why did a major not snap up? RTZ had all these same results from decades ago that are been touted and walked away why would they be interested now when KDR have no new drill or bulk sample results. I don’t know what the board are currently owed as recent placings May have paid of the wages owed. I believe the company only remained viable as directors took shares instead of wages in placings which made the placings look like more cash was available for exploration than was and I believe millions were still owed to directors but this may have been paid of with placings. Good luck to all but DYOR here.
Will the Pied Pipers band of Merry men continue to average down to keep their percentage the same and prop up the share price for the dilution of their holdings. The board will need to raise money to pay circa £500k in fees and circa £10k for nominal exploration.
korade
Price: 3.15
Strong Buy
RE: RNSWed 08:58
To anyone who's not done their research, and when I say research I mean properly done their research, then you'll see the bigger picture.
Everyone invested and holding tight will be very happy.
It's coming and it will surprise many.
DYOR
So have KDR done their research raising circa £500k diluting your holdings then spending circa £10k on exploration and taking the rest in fees. I mean that’s a double hit as every fund raiser your having fortunes lost on dilution and the money raised isn’t all going in to exploration!! You can not seriously believe this is a good business model to invest your hard earned.
Come on Bobbyswan there’s 3million shares available at a bargain price of 3p are you not tempted? I mean CGNR started with the news that gold was found by a farmer in a local STREAM bed. If KDR can now do with this STREAM what CGNR managed for their shareholders over the last quarter of a century, new investors could be sitting on a 99% loss 20 years from now, while the board continue to earn millions on the potential of diamonds and gold said to be found in Irish streams . I’d rather back Lucy looking in the sky.
I admire your optimism you certainly seem a glass half full kind of guy. The question I would ask yourself is why would the land owner and actual company with mining rights sell it for £150k (£100k) still outstanding to KDR? RTZ are well aware of Lahtojoki surely they would have brought the rights for such a small sum. Sadly for shareholders KDR continue to take circa £500k a year in fees instead of doing serious exploration on the site. In fact the site currently has not seen a drill in decades. Without drill results you have no resource.
That’s why I refer to Arctic Star they spend millions on drilling and outlay plans for 2022. KDR do neither
Congratulations Stevehoops on your 5% Hope the company put a drill in the ground soon to see if past results can be improved.
Here’s what a real exploration company does below. A lifestyle company spends all its income on fees
Arctic Star Announces 81.5% Interest in the Diagras Joint Venture NWT, After Completion of the Spring 2021 Program
Nov 5th, 2021 Vancouver, British Columbia – Arctic Star Exploration Corp. (“Arctic Star” or the “Company”) (TSXV: ADD) (Frankfurt: 82A2) (WKN: A2DFY5) (OTC: ASDZF) is pleased to announce it has received formal confirmation of its 81.5% ownership in the Diagras Joint Venture, NWT.
Earlier this year Arctic Star assumed management of the project and proceeded to solely expend a total of $2,135,828 on the project. Our Joint Venture (“JV”) partner Margaret Lake Resources Inc. (“DIA”), elected not to participate. Five kimberlites were discovered, four of which are diamondiferous, with the Sequoia kimberlite being the most interesting.
At the end of the program, a total of $3,087,852 has been expended by the JV, with Arctic contributing $2,516,638. Using the dilution formula in the JV agreement, Arctic Star’s interest is now at 81.5%. Arctic Star will remain the manager of the JV.
Arctic Star has presented the Joint Venture with a plan and budget for the fall program to March 31st, 2022, details of which will be announced soon. It consists of an airborne EM survey covering the entire property and further diamond studies. A spring 2022 program is also in the works. This program will cover definition drilling on the Sequoia kimberlite designed to give the first look at grade and tonnage of this diamond bearing kimberlite, ground geophysics, and exploration drilling.
You can kid yourselves all you want but answer one question.
If Arctic star had the licence would the pond have been drained and drilled within months……
You’ve got no Hope of a JV as KDR do not have a resource!!!! There Has been zero exploration from KDR. You have to have a resource to attract a partner. Below are a few other reasons
1. Board take £500k in fees plus owed back pay
2. Zero exploration from the company
3. Proved uneconomic by 2 previous licence holders
4. Very small pond no major would be interested
5. £100k outstanding to current licence holders
6. Loan notes at 10p due in 2022 for repayment
7. Millions needed to be spent on drilling to see if past results can be improved.
8. The board are all friends and family that swap shares for back pay to keep in themselves in charge of the gravy boat
I could carry on but seriously who on earth would invest then millions needed on a toll road and land compensation without a proven resource with £500k in fees per annum to a company that have no money and have done zero exploration
Pandora is the the new Ratners .
Hall marked 3 billion year old (blood free) stone is the difference between Rolex and Timex
Commitment of life ,not a one night stand .
Court case ,another example after toll Rd agreement ? what to do nothing with ,
send in the clowns BOBBY
Only the worlds largest Jewellery company. Many following suit !!!
The Lahtojoki pond has twice had millions spent drilling with no diamonds over 1 carat. Both companies could not find funding to continue
Kdr have not put a drill in the pond yet are spending years to get a mining permit on what so far has been proven uneconomic
The board will continue paper exercises while taking half a million in fees per annum and diluting shareholders 25% every year
Over the decades the focus shifts from one site to another without one single project ever getting exploration finance to completion off economic value. Rhivvara kimberlite never followed up or mentioned. Zero further drilling on the green dust claim. Seitapera the same. In fact fancy RNS to fund a project with funds going in fees and testing new rocks.
True facts remain initial investors would never see a return regardless as sitting at around a 99% while the board who are all friends and family have took millions of pounds in wages between them.
If Lahtojoki was a serious project the pond would be drained and fresh drilling would have been done many years ago to see if a mining licence was needed.
I don’t know if any other company that would spend years and years with paper exercises for land compensation toll road mining licence when 1 weeks work would provide drill results to see if it was worth it!!! Mind you they will have had millions in wages over the last few years between them. Why jeopardise all that money when a weeks drilling could end the dream
The Khumo 1 states “ Because they have had years to buy at these minuscule prices I suspect. If permit RNS comes shortly followed by JV with Rio Tinto or some other then I can't see these minuscule prices remaining.”
He really is on fantasy Island!! What a statement to make these long term holders have lost over 90% in shareprice it’s lost over 70% in 5 years!! So please explain how they have been buying at minuscule prices???
Bobby I agree 100% why aren’t the rampers hovering up these shares while they are pumping it!!
I mean what’s not to like KDR have a puddle in which 2 companies ploughed millions into exploration and couldn’t attract finance on the results. KDR are using these failed explorers past results and applying to mine a proven uneconomic pit without even one single new drill hole to see if they can improve on these past failed companies!! Ah that would be reall exploration and cost money!!
Company takes around £500k in fees annual and dilutes around 25% off the company annually to cover.
With their best figures of the mines profit as with CGNR they have probably took more in fees than profit left in the ground!!! I mean shareholders are only at around 99% loss since CGNR and KDR were incorporated!!! So what’s not to like here
The world's biggest jeweller, Pandora, says it will no longer sell mined diamonds and will switch to exclusively laboratory-made diamonds.
Concerns about the environment and working practices in the mining industry have led to growing demand for alternatives to mined diamonds.
Pandora's chief executive, Alexander Lacik, told the BBC the change was part of a broader sustainability drive.
He said the firm was pursuing it because "it's the right thing to do".
They are also cheaper: "We can essentially create the same outcome as nature has created, but at a very, very different price."
Mr Lacik explains they can be made for as little as "a third of what it is for something that we've dug up from the ground."
I’ll tell you what is coming in 2022 convertible loan at 10p that’s another big fund raiser to clear that !!!
Look at last annuals operating costs half a million and far less than 10% spent on exploration !!!
Hey there’s a few more claims to discover a new rock and switch interest from Lahtojoki as they did with Rihviarri