Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
AIM-listed Kodal Minerals (LON: KOD) share price is rising on Friday following its update on its gold exploration activities.
The company's shares were falling this week after political upheaval in Mali. This could have impacted its Bougouni mine, however, in a statement today, Kodal said it continues to monitor the developments closely, but the country representatives and employees have said the situation remains calm and that commercial activities are continuing as usual.
Regarding Kodal's gold exploration, it has commenced aircore drilling at the Nielle Project in northern Cote d'Ivoire. The 5,000m drilling programme is expected to take two weeks to complete, with samples submitted for assay at completion.
A second drill rig, a reverse circulation drill rig, has also arrived on-site and is expected to commence drilling as soon as all checks and preparations are complete.
At the Dabakala project, located in central Cote d'Ivoire, Kodal has completed the infill sampling programme and has submitted all samples for analysis to the ALS Laboratory in Bamako.
Meanwhile, at the Bougouni Lithium Project, the company confirmed that the updated Feasibility Study has been lodged with the DNGM in Bamako.
Kodal representatives have spoken to the DNGM, and the company is now awaiting a request for payment of the mining licence fee. Once paid, it would trigger the drafting of the mining licence decree for final ministerial approval.
Looking ahead, Taylor said from today the firm plans to “assemble a new portfolio of cutting-edge media, data, information, internet, security, and technology companies” and that it is active discussions with several companies.
The CEO added that the company also has sound financing in place thanks to its 2020 financing facility with European High Growth Opportunities Securitization Fund.
“Today I would like to draw a hard line between the past and the future of Iconic Labs”, Taylor said.
Iconic Labs' vision is to 'build a portfolio of companies along three divisions'
Iconic Labs CEO Brad Taylor joins Proactive London's Katie Pilbeam to discuss his vision to build a portfolio of companies along three divisions
The first division is to leverage off the company’s history in media and publishing. The second division will focus on security, data, and information companies and the final divisions will be to acquire dynamic technology and artificial intelligence companies.
Taylor believes this vision builds on their existing experience and expertise, but it also offers an ambitious path for growth and value creation going forward.
He also explains why it is crucial to shareholders to attend the general meeting of the company on Tuesday 15 June.
Iconic Labs Plc (LSE:ICON), a cutting-edge media, data, information, internet, security, and technology company is pleased to announce that it has entered into a non-binding letter of intent ("LOI") with Ott Ventures, s.r.o. ("Ott Ventures"), an entity closely affiliated with one of Iconic's key shareholders, Ott Holdings Limited.
Under the terms of the LOI, Iconic would acquire a controlling stake of unmanned drone company, Sting Industries Ltd. ("Sting") payable in a combination of convertible notes, warrants and cash, and provide a long-term financing facility to meet Sting's working capital needs.
Sting's modular drones are used in a wide range of applications for the military and security sectors. They provide close range safety and protection by flying in front of the first person through the door in demanding urban environments confronted by special forces, military, police, and security personnel. In addition, through the research and development associated with these drones, Sting collects, processes, and analyses significant quantities of data derived from flying and manoeuvring these sophisticated drones in tight indoor spaces.
The non-binding LOI is subject to due diligence, finalizing a long-term financing facility of up to £50,000,000 with European High Growth Opportunities Securitization Fund ("EHGOSF"), obtaining sufficient corporate authorities to facilitate the financing and the acquisition of Sting by using convertible notes and warrants, and the execution of definitive documents.
"I have worked with Ott Ventures and the affiliated companies in Group Ott for many years and am delighted to have been able to sign this letter of intent with them as I begin the process of building a bold future for Iconic. Sting is an exceptional company. I look forward to signing a financing facility with EHGOSF and completing this transaction," said Iconic's Chief Executive Officer, Brad Taylor.
One thing is guaranteed 720share whose account was only set up yesterday to disrupt the board and down talk this share will continue his rambling posts until price is walked down to his or paymasters target then will magically disappear as the share rises. Have seen it countless of times over the years.
Iconic Labs' vision is to 'build a portfolio of companies along three divisions'
Iconic Labs CEO Brad Taylor joins Proactive London's Katie Pilbeam to discuss his vision to build a portfolio of companies along three divisions
The first division is to leverage off the company’s history in media and publishing. The second division will focus on security, data, and information companies and the final divisions will be to acquire dynamic technology and artificial intelligence companies.
Taylor believes this vision builds on their existing experience and expertise, but it also offers an ambitious path for growth and value creation going forward.
He also explains why it is crucial to shareholders to attend the general meeting of the company on Tuesday 15 June.
Yesterday Shares of Iconic Labs PLC (LON: ICON) surged 10.8% after its CEO Brad Taylor clarified its new strategic direction as it focuses on growing its three business divisions.
The company will focus on growing its current media and publishing business as an independent business unit, with its second division focusing on security, data, and information companies.
Iconic Lab’s third business unit will focus on acquiring dynamic technology and artificial intelligence companies. The company will hold a general meeting of its shareholders to pass critical resolutions that will allow it to meet its financial obligations.
Iconic Labs is accelerating efforts to expand its business into other areas apart from its prior media business after the appointment of Brad Taylor as CEO in March.
The company recently appointed Marija Hrebac and Christoph Manthe as non-executive directors to rebuild its board and management team.
The European High Growth Securitization Fund (EHGOF) supports Iconic Labs’ new management team and has agreed to a £50 million financing facility subject to completing due diligence and shareholder approval June 15 meeting.
Since March, the company’s shares have rebounded after its previous top executives resigned after a disagreement with Ott Ventures, a significant shareholder in the company, and a row with EHGOF, which has withdrawn its backing.
Iconic Labs is currently negotiating to acquire unmanned drone company Sting Industries, owned by private equity firm Ott Ventures, after signing a letter of intent (LoI) with the firm, one of its largest shareholders.
Iconic will fund the acquisition via a combination of convertible notes, warrants and cash, and commit to providing long-term funding to Sting Industries. The deal is an excellent example of the company’s new strategic direction.
Nice little pump to give nice healthy profits to the billions of placing shares that were dished out at 0.1p!
Have seen plenty of times shares drifting down to the placing price.
Still believe this will head lower 0.16 if not lower!
Odd that you are more concerned about it being a first post as a posed to the content of the post.
Simple fact that can’t be escaped is billions of shares and warrants have been issued at 0.1p where placees are already milking healthy profits.
Only a opinion but untill any positive news lands can see this heading back towards the placing price of
0.1p
Was this company not valued at 1mil Mcap only few weeks ago? Now at around 16-17 mil?
Seems there was a huge share dilution !billions! of shares dished out at 0.1p!
Of course the lowly pi minions were not privy to this placement and are expected to pay 150-200% more to line the pockets of the placees.
Imo a lot will see it like this and only the gullible will buy in, with lots of sells going through a retrace back to 0.1p could be inevitable?