Member Info for JDwag

All EGM Proposals. It’s up to each and every one of you what you do, but considering Shumba and Sanderson won’t be voting, I suggest we could easily defeat the BoD.

I wouldn’t like to also see what happens to Sanderson when they find all the shares they have forward sold don’t actually exist.

JD

BoD and Sanderson want those shares as cheap as possible. Could be looking at the BoD handing out the shares to themselves at 0.15p/1.5p. That would see the BoD give themselves 30% of the company with another 30% in warrants.

JD

42.13%

https://www.lse.co.uk/rns/KAT/financing-business-update-and-tvr-zg8f5szl2vf4ll8.html

JD

JD

Eventually, maybe, SS. But in the short to medium term Sanderson, et al won’t be left with a holding in an illiquid stock that is privately held, they aren't here for any length of term, they only ‘invest’ in these companies as they can dump stock as and when they need to in a readily available open market. Same goes for Kibo, they will need access to funding for some time to come, that can only come from the open market, hence the consolidation. Churn and burn, rinse and repeat.

Hope you are well BTW.

JD

And there is the nub of the issue here, Ivans. Sanderson are only selling down on the basis that they know come end of June they / whatever bucket shop they are calling themselves these days will get first dibs on another 30% dilution with 30% risk free warrants.

Add in this BoD giveaway and this will be a circa 50% dilution across June / July (with Warrants added to the pile). When the dust settles there will be approx. 2 billion shares in issue and approx. 1.25 billion warrants outstanding end of July I would guess. Of course, warrants will (eventually) provide liquidity.

It reminds me of a pack of piranha fish feeding on a corpse.

JD

Maybe, maybe not, Bcl. If that was the case why increase the authorised shares to 5 Billion if the plan was taking it private, you wouldn’t bother with the extra procedure / regulation? What would that do for sentiment at KAT? If Sanderson are selling down their shares at a loss here that’s because they have been promised more at a reduced rate?

I think ‘Occam's Razor’ applies in this instance, they saw an opportunity to fill their pockets with 40% of the company at the dead of night with Covid-19, and they took it.

JD

To be fair SD, that might not have been his call, the NOMAD could have insisted on it so they could claim the same defence you have just posted. But I don’t think it matters when there seems to be an almost limitless amount of shares to continually pull this back to the level where you stand to gain most from.

With the SP at 0.003 for example the bod would be issued with (approx.) 193m share and equally warrants, with the SP going back to 0.00225p the bod would be issued with (approx.) 255m share and equally warrants, a bit of a difference.

That would be 20% of the company, with a further 20% warrants, add that to the existing holdings and warrants and dilution effect of each, the BoD are essentially giving themselves 40%+ of the company. As today’s news shows, they’ll make a killing from it.

Once the BoD have their shares, you will see this fly. Not before.

JD

Away from the project specifics, it highlights just how cynical Friday’s RNS was. I expect a good announcement on MED in the coming days / weeks also, Bordersley and the wider 20 Project Portfolio and Funding.

Our stake in KAT is now practically the same as our MCAP. Don’t tell me this SP isn’t being held down for a reason!

JD

Looks like we will be increasing our 65% Stake as well. Taken in isolation to the project, it’s very good news. I doubt Baobab would deal with us if they hadn’t had assurances from the Moz Government.

Vale, Baobab and EDM for at least 350Mw.

JD

If he can get Katoro funding sorted and Bordersley makes a start this year you will probably do well from these levels. Big ‘IFS’ thou, this guy as far as I can tell has never executed anything in his miserable career.

JD

As always Dave, good to hear your thoughts.

‘Stick or Twist’ indeed! It really all depends on Bordersley / MED in the immediate future to see if that 2/3 bag prediction could be right, it easily could IMHO.

JD

Check out the last 10 VWAP, Magnet. The selling is, well, interesting, especially around the Moz news on a Monday. Almost as if someone had a large chunck of shares ready to sell down....

The proof will be in the immediate news flows in the next 4/8 weeks.

JD

I’m not buying the ‘nice guy but dim routine’.

This is a hugely cynical attempt to steal a large chunk of this company under the dead of night. He’s learned a lot it would seem from CS at EUA.

JD

I disagree actually, BCL. Turkey’s don’t vote for Christmas and LC doesn’t vote for shares if he thinks they are worthless.

He obviously thinks there is money to be made at some point owning shares. But a complete hammer job here on the LTHs.

JD

Dave,

This will certainly rise at some point, when LC releases some worthwhile news and Sanderson and Shumba don’t sell down their stock to oblivion in order to allow LC and the BoD to fill their boots at stupid prices.

The SP here is not natural, it’s manifestly unnatural, and everyone knows it.

JD

To end the day on a low, this has ended up just like EUA, diluted to oblivion to the benefit of the BoD and the CEO before it finally ‘wakes up’ and does something. 1p / 1.5p (10 / 15p new money) is what you should be aiming for here. I’ll make my money back because I have averaged down aggressively and I am actually pretty confident of 1p / 1.5p long term, most LTH will take a bath, however.

This is a company that was run for the pure benefit of its CEO and bucket shop pals and we have been well and truly rinsed.

I expect Tanzania to be jettisoned and Moz, Bots and MED worked on with the proceeds of the Tanzania Sale (which will be a fraction of the USD$40m put into it).

I will take this lesson LC has taught me and try and use it to the best of my capabilities through my life.

JD

LC will take his pound of flesh in shares owed to Kibo by Kat for the works they have done for the company and not been paid, it will be hndreds of thousands of pounds and if I had to hazard a guess it will be 10/20% of the company to take Kibo back north of 50% ownership. Which is good for us to be fair.

JD

Funding due on KAT, Bordersley and other MED Project funding round the corner, it’s the time to do it, save up your back pay, have your major shareholders run the SP into the ground and then do this and walk away with 40% of the company. Unscrupulous, but lucrative.

JD

close to all time low! That's why the saved up their 'deferred' pay, to take it when it made most sense.

So, the question is, just how cynical is LC? News next week on Bordersely starting?

JD

Also doing it behind closed doors so no one can look them in the eye. I’m lost for words on just how cynical this is.

JD