Member Info for Jiving

LT. An alternative to a placing might be a short term loan from a major shareholder to KP2. ZIOC did this with Glencore to keep ZIOC ticking over whilst a deal is being negotiated. I think the idea being - a deal is announced, share price rockets, then a small placing covers the loan.

Alb1 unlike you I am heavily invested in ZIOC & topped up substantially in the 2p area last year. So its looking good, real investors patience gets rewarded as it will in KP2 - fantasy investors never win.

You clearly never did trade on ZIOC Alb1, as it never reached 1.50p. You also exited the ZIOC board shortly afterwards & never returned - genuine investors hang around once invested.

The BOD here have no need to raise for 6 months & even then - like ZIOC - may be able to continue with a temporary loan from their major shareholders.

And of course Alb1 played exactly the same game with ZIOC a year ago. Initially positive, then deciding he would try to drive the price down, here he is on 10 May 2022 quote: "...makes ZIOC worth zilch unless they can mine out the IO, however I'm looking to buy here at around 1.5p and go long."

Now ZIOC is trading around 7.50p ie 5 times his proposed 'in-price'.

Will Glencore Go from Predator to Prey in Mining M&A?
"With its offer to buy Teck, the world’s largest commodity trader may have also hung out a "for sale" sign visible to its only potential acquirer: BHP"

https://www.bloomberg.com/opinion/articles/2023-04-06/will-glencore-go-from-teck-s-predator-to-bhp-s-prey-in-mining-m-a

"PowerChina has not yet advised Kore of the timeline to complete its reviews and internal approvals."

Doesn't exactly show a sense of urgency. Are they dragging their heels to get a bigger slice of the proceeds or is it on the backburner at PowerChina?

I thought it was a good announcement & interview but do we have the money to do the remaining tests & keep going to sort out licensing partners?

ATG - "Cheap sale or get nothing? Would not surprise." I think/hope thats a real possibility given our circumstances. We seem to have essentially one seriously interested party, & if they walked away would be desperately searching for a new developer & also fighting off a potential loss of licence. Better to accept a take-over offer, than get pushed back 3-4 years & having to raise funds at a bombed out share price.

You comment also sparked a memory that I just re-checked. KP2 was previously called Elemental Minerals & in 2013 received a takeover offer that the WSJ worked out to be worth A$190m. (equiv to 3p using current no of shares). It came from a HK listed vehicle that the HK authorities refused to allow to continue so it fell through in 2014. Frankly better 3p than collapsing down to 0.3p!

Yes indeed Soup but I am 90%+ certain its Dan the way he frames his responses & language he uses is close to his spoken/written statements. There is no verification process but he seems real, sign up & see for yourself.

Thats h**ps: //t. me/

Link for anyone interested:
*************NuformixNFXchat

Dan has just signed in to the main Telegram Group for NFX in his own name & responded to a number of questions & points.

LT you are right the cash update will be useful and any plan updates likewise. I hope KP2 is keeping the ROC Minister directly & closely informed of developments, and not primarily via public announcements.

The scale & speed of what is happening across all the main infrastructure issues is astonishing. The newsflow alone must be attracting interested parties - essentially we have been a 'forgotten asset' for nearly a decade, now there genuinely could be multiple suitors with big pockets. Chinese fulfilling Xi's iron ore ownership quota; Saudis pursuing their green steel hub; Fortescue seeking high grade ore; Nippon Steel seeking security of future supply.

LT obviously I am hoping for a useful update on 31st. But in reality I suspect it will likely be a holding statement about 'ongoing negotiations'.

Oxilio - the deal where everybody made good but the company that created & patented it. There are times I could be Mulder.

So iron ore mining is pretty much taking off across West Africa....really time we got 'something' going.

The Rosatom news is a good find MM. This potentially has very positive cost implications for our Stage 1 12mtpa option. I was pinning my development hopes on an EPP at say 2mtpa, as that is the kind of level of project that management has been indicating the last couple of years. But with Simandou now being rapidly developed, we become the only Top 10 iron ore resource not yet being developed. And as has been detailed across various posts, its now not just the Chinese seeking quality iron ore deposits to mine so are the Saudis, Nippon Steel, Fortescue & possibly others driven by an urgent need to comply with escalating ESG requirements.

Taz we cant leave financing till the last minute. I am actually hopeful for our prospects of getting a partner of NXP002 once we have the next tests in, but that will take time. As a long term shareholder unfortunately dilution is part of the ongoing cost, I am would actually prefer they did a placing after our next results than leave it till the last moment.

Taz. Lanstead is only providing us with the money to keep ticking over month by month. You cannot leave financing to the last moment, so any financing would need to be arranged in early summer. Markets could indeed be better by then but they also could be worse, whatever we need to start preparing for it.

Trombone. I didnt state NFX was an AIM stock, I have been in this over 5 years so I am very very well aware of its main board status. But it has a mkt cap of around £3m so its prospects in a placing are identical to other smaller companies in AIM trying to get placings away. The main market listing actually doesnt help our prospects one iota.