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@Degsie charge of £100 seems extortionate to me. No charge by Halifax but I found out that
they required 48hrs notice.
With other shareholdings I have, on last two AGM's, the companies merely asked for e-mail address
to register and were happy to answer all questions on the day without notice.
Kdnc not so open on this occasion
Judging by the various interpretations of the stockpile value/ownership/location expressed by
knowledgeable posters, we do seem to be in a position of obfuscation.
Clearly this has ramification for value of kdnc [eventual/imminent?] 20/27% of Amapa.
BOD should update present position as they understand it otherwise sp will continue to languish
on uncertainty.
@MBW just for the record I have re-read the notice [last Dec] for the AGM held early Jan.
This makes no mention of any I/D pin number needed to listen in.
I cannot recall having to obtain these which is why I used the word "circumspect".
I appreciate that one has to approach the broker for the I/D and Pin No.
What my broker {Halifax] said is that they need 48hrs notice to obtain this information.
My concern is that the AGM circular made no reference to any notice period.
I wonder how many others are now blocked.
Notice of AGM asks us to log on with Investor ID and pin number, neither of which we receive as we are
not direct shareholders. Any thoughts how to gain access to the meeting?
For other shareholders meetings all I have to do is register with e-mail address.
Are BOD being circumspect on this occasion?
@Titam welcome from me also to this bb. I notice your intention to take a "decent position".
Recent short term downward trend of sp has been suggested to be the result of
West Face feeding the market with sales from recent purchase of over 8m shares at 14p
from exercising warrants. This has not been confirmed but it could be a reason for the
poor performance and maybe a future drag on sp.
If you have read through recent rns announcements then I assume you have taken into
account this possibility.
West Face have acquired 8million+ shares at 14p by converting warrants early.
They are very likely to de-risk imv to give 80/90% profit on sales at present sp.
I notice from the Final Accounts for 2020 that the Directors took bonuses totalling £180k.
It was also stated that a condition of these bonus payments was that the net proceeds were
invested in kdnc shares during an open period.
West Face were given the option to convert warrants at discount from 20p to 14p if done before
31st Dec 21. My question is why would they convert 6 months early?
Maybe some forward selling has taken place--a profit of 100%+ is always attractive.
With hindsight it is clear that legal procedures would take time. Just trying to understand the legal
jargon of the conclusions is bad enough. There is a lot of money owing to creditors and I would expect
their legal teams to take care in a case involving a foreign jurisdiction.
My thanks to all contributors for their perseverance in this matter.
@StuAFCB Thanks for your correction I did not appreciate the website had not been
updated since consolidation a few months ago!
There were a number of historic creditors who accepted warrants at equivalent of 20p today.
A good deal for them to have the debt plus 50% at today's sp. They have probably sold already.
It is noted that as at 4th May 2021
there were 1,027,221,824 debt and equity warrants outstanding.
These will hold back any substantial rise in sp imv whatever the speed of mine recovery.
I find it somewhat puzzling why there should be a good deal of negative comments at present.
There are many drill hole samples to yet be analysed and we are told 2 drill rigs are working 24/7.
Surely everyone understands that the licences are located in a gold mining area and thus with
continuing activity, and sufficient funding to continue, there is a good chance of finding a commercial
prospect. Stay patient and await results before jumping to conclusions is my take here.
I read this as very much jam tomorrow, we hope.
Very expensive loans [up to $50m] with dilution thrown in.
Profitability on back burner--sp will very much depend on quick turn round progress.