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I believe the newly issued shares are starting to be all bought up and held - you can see it reflected in the ratio of bought/sold. In my opinion I can't see the SP going any lower without some negative news out of the blue, and should start climbing again
How much is Prem down this month? 35%? Oof. Tbf, the company is hanging on by the skin of it's teeth due to an incompetent (mis)leader, so could be much worse. Always look on the brightside, Johnno!
Lmaooooo trax fell for it
What a grounded and mentally stable individual...
Ten years time before scaleable. Planning to have sold long by then Watcher 👍
Keep trying tho 👍
Not at all surprised the SP is collapsing. Thought we were done with share diluting a long time ago - not happy at all they've pulled this sh*t again.
Come on bernie, not another extension. Can you please give us a realistic timeframe for once?
Would love to see an update on the recent drill samples to keep this momentum going. We are in a prime position with the range of RNS we're waiting on.
Diversifying can be a good strategy if you have the time and dedication to really delve into the companies you're investing in and keep tabs on any developments; however, I would personally rather invest in a small handful of companies I feel confident about than a dozen companies I've invested in for the sake of diversifying.
PM01 - I think you're spot on there. I think nothijg to production in 12 months is certainly possible in the West, but I'm sure there are supply chain challenges in Africa that also need to be accounted for. If we have to build our own road to and from the plant, just imagine what a logistical nightmare it is to get the equipment there.
I think the liklihood is that it's somewhere in the middle - maybe not within 12 months, but probably not much longer than that either.
PM01 - I
I'd be far more wary of someone appearing on here suggesting the SP could get anywhere near 38p - they clearly have no idea how to look at figures of proven reserves and forecast the SP 😂
GLA
As someone else pointed out, whilst the extensions have been frustrating, they usually contain some good news re progress made since the last extension. I imagine people are expecting to hear about this presentation Steve mentioned in the AGM.
Absolutely nothing onlyking. Weaver Financial has acted for Kodal since December 2013. Kodal needed to submit AGM results to Companies House so likely submitted a form appointing Weaver as an officer of the new company alongside it because they'd have to do it at some point anyway.
Expect some actual news in the extension RNS.
If you act ignorant of CH reporting rules, don't be surprised when someone treats you as being ignorant of CH reporting rules.
Re my prior decisions to sell, I sold a portion of my holdings for a significant profit and then bought back in at a lower price to increase my shareholdings for free. If your exit strategy is to sit on your hands until the SP reaches a number you're happy with and then completely exit, more power to you - just because someone has a different strategy due to having a higher risk tolerance than you, doesn't mean they're "wrong"; thankfully in this case, my strategy put me in a far better position than yours did.
Daz, I personally don't find doing the bare minimum of what it takes to run a functioning company a sign of anything, positive or negative. It's not a step in any direction; it's literally nothing other than compliance with CH reporting rules, which is the responsibility of every business in the UK. As a publicly traded company, they are legally required to post the results of the AGM to CH; they clearly thought "seeing as we're sending this off to CH, let's kill two birds with one stone and add Weaver on there because we'll have to at some point anyway".
I'm not taking a dig at Kodal because they haven't made a song and dance about it (rightly so; it's not news), but let's not pretend it's indicative of anything imminent because it's literally nothing as far as "news" goes.
It states Weaver has been acting for Kodal since 2013; this is clearly just housekeeping. I'm also a LTH and have been invested since the coup, but I also don't think it's productive to hype up insignificant details.
I wouldn't read too much into either of those. I imagine they were both submitted to Companies House following the AGM and have only just been processed/uploaded by CH. I never thought I'd say this, but if only the Mali government had the same turnaround time as the UK gov.
There's a lot of pessimism on this board recently, which I think is unwarranted in one sense but completely justified in another.
On one hand, as others have pointed out, the fundamentals haven't changed and there's no reason to believe the delay points to an issue. Everything is in place, and it'd take a hell of a lot of bad luck to de-rail the project at this stage; I'm personally of the opinion it's a matter of when and not if, although I think the when is a lot later than we've been led to believe, which leads in to my next point.
On the other hand, I think the Kodal board are very quickly running out of good will with retail investors, who collectively hold the majority of shares at the moment. I'm extremely disappointed with the cycle of promising something is coming very soon only for that something to be delayed again and again. I'm very aware the Mali government are very slow to act, but I'm also aware the Kodal board should be hyper aware of that fact also (considering they're the ones actually working with the government), and so it feels like we're being played for chumps when they tell us things will complete far sooner than they actually will.
Steve at the AGM for example mentioned a presentation to the mining department either this month or next month. Really? You can't give us a more accurate timeframe than sometime in the space of two whole months? That indicates to me no date has been set and no indication of when it should be has actually been given by the government, and so once again the can is being kicked down the road to pacify investors. I'd much rather them just be straight.
I'm an adult, so I'm not one to waste my time slinging sh*t on a board for a company I'm not even invested in, but with all due respect, there's a big difference between news being delayed and a share suspension. I'm incredibly frustrated by Kodal's delays, but I've no reason to be worried about them.