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He needs shareholders’ approval for both, Bcl. It would need to be a GM or AGM, he will wait to the AGM. I’m expecting the authorised approval to be raised to 3b shares at some point this year.
When you look at EUA exactly the same thing is panning out here as it did there IMHO, there was a delude in the 2/3 years leading up to their meteoric rise where the major shareholders and BoD waited to the SP was on its knees then started issuing shares galore which they then gobbled up. Hundreds of millions of shares at 0.45p sure makes a lot of money if you can sell the company one day for 5/10p.
JD
All of that BCL before we get near the next AGM and the next share issue, they’ll almost certainly need to raise again mid this year, so we could be in for the next 0.30p for 500m shares and 500m warrants. It is a mess here simply because the CEO is incapable of progressing any projects whatsoever.
JD
My guess is we will get an update mid to late march with a real timelines of when this will happen, he’s deliberately and carefully avoiding any Kibo Media, not to even mention Kibo in any Katoro Media in itself is bizarre, he’s doing that because he doesn’t want disappointment out there to **** all over his new and wonderfully shinny Katoro news.
JD
100% not in any way, this is just a pure guess on my part. But look at this clow with Katoro, any real news and he’s running around AIM like King Lear with a Boer accent. If Bordersley was on schedule he’d be tweeting out photos of construction works, etc. If we are to make end of March date for commissioning then the works would practically have to be finished by now, that’s clearly not going to be the case. We’ll be late IMHO.
JD
They’ve hit a snag at Bordersley, possibly in the design, could be the gas connection (utilities a massive source of delay on construction projects) and / or funding.
These things do happen, of course, they happen all the time to Kibo and the utterly feckless Louis Coetzee.
He’ll be in the background trying to get a finite set of dates agreed before he dares come back to the market to RNS it because he’ll know (MCPP being an example) that if it’s a ‘delay or funding issue’ RNS then it will savage (what’s left) of the SP. But it will 100% be delayed, by how much? Who knows.
JD
When you go through the numbers here you realise what a piece of work LC is, for an initial £100k outlay and a quick flip, Sanderson (at today’s closing SP) has ended up with £500k+ worth of shares lol.
I bet LC was in London alright, Sanderson probably took him out for dinner last night and a magnum of his favourite Vintage Year Krug. Wonder what they had for dinner? Probably PI served bloody rare.
Of course I’m amazed Sanderson could eat with that much silver in their mouths.
JD
I think that’s fair, Gillie, Kibo will get a small amount of shares from Kat, however, I expect the BoD to be drowned in ‘overtime’ shares over there, it’s now a feeding frenzy for the ‘insiders’ over at Kat, looks like a goldish who can’t stop gorging themselves!
JD
Lol, it is, yes, just in a mood over the latest instalment of ‘Louis Does It For Sanderson’ what has unfolded her is a disgrace beyond any real description.
I view myself as a good judge of character, and when I met LC and talked to him over the years, I never took him for the complete animal he has turned out to be.
Still, every day is a school day. Learn from it and move in to pastures new.
JD