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like this bit "management made sure to push forward once easing was implemented in-country and the licence is expected to be issued shortly." maybe management can "push forward" and provide a proper update to their investors.
The company needs to either hit with the drill bit and increase reserves (planned for NE this year) or acquire to build reserves - both carry risk but sadly the company isn't in the position where it can continue to pump it out of the ground for decades to come.
They should be getting / have got cash in from the "record breaking" sale of Diamonds in December. They also shipped Tant. to offtake partner so cash from that too. Anyone remember when the objections need to be lodged by for the sands license - sure it was some time towards the end of Jan.
Would be good if the co could start sharing / communicating this info - not just to provide clarify for existing investors but potential new ones sitting on the sidelines
RNS in October says "Conditional ONLY on shareholder approval, Grosvenor will invest £5.6 million". With shareholder approval granted at AGM the contract becomes binding.
I am sure behind the scenes they will be working very hard to get this concluded before they have to submit annual accounts (by 31st December 2021). They will have to satisfy the going concern requirements and for this they will need the financing.
personally i think a lot of the movement is down to the RNS for Ironveld this morning who have secured funding at a premium to share price - subject to investor approval. Same strategy - commonality of board and investors ! Read into whatever you want
From 14th APRIL RNS
"DJ Drilling, an independent contractor, have begun preparing road access in anticipation of the mine once again becoming fully operational"
From 13th MAY RNS
"DJ Drilling, continues to rebuild the road systems at Tantalum Valley that were damaged due to the extreme heavy rains experienced in Namibia"
would be surprised if this is the first signs of Kaz Trading starting to be part of the bigger play - Ship it off to China, generate some cash and make some profit.
Re the share price in 2017 - two points
(1) There were far less shares in circulation then so the "value" wasn't massively disproportionate
(2) The price is simply driven by supply and demand - MMs are there to make a market - if demand is high and supply is short (based on hype and sentiment) the price will keep rising. That's why AIM is a trading heaven. Just look at KOD over the past week or two - Market CAP at its peak on Wednesday was three times higher than it was two weeks before !
My view is that they should never have released an RNS last month saying the DD was done and just waiting for the funds.