Member Info for Jiving

Good point & with Danakili now taken thats one less potential target for acquirers of any nationality. Vale would be a good fit, but after their dam disasters have they got the cash?

Good stuff 99 these links to actual potash deals in Africa are very pertinent and very positive. Especially as they are selling their stake to a Chinese company!

Good point Soup especially as Stanford did a research report on IMM as an 'initiation report'.
I thought the Allenby reports were actually pretty good & informative.

Good analysis Mitch, thats pretty much how I read it as well - 2023. I am not altogether surprised given the tumultuous events across so many key markets in the last year, events change markets, that changes deals.

It seems there is some practical activity going on to kickstart an EPP. Glencore are clearly trying to add value to this stake, given they have have provided the loan. Their strategy of disposing of small stakes is not being applied to their Zanaga stake.

Or could it be Monday morning?

Unlike prior two trading days, there were no large sells at close yesterday.

My understanding of the Lanstead agreement is they pay NFX monthly according to the market related formula, it is up to them whether they sell shares from the holding they now own or from the cash proceeds of the sale that were returned to them. The difference between what they pay to NFX monthly versus the notional proceeds from the original sale belongs to them & NFX has no recourse to that money. One of the many issues/conflicts this type of structure has is that share sales from the holding may indeed effect the proceeds but that the broker/owner also has a right to manage their risk. I can see its attractions of this structure IF you were sure of a rising price, but the enormous downside is what we now have to live with. Versus the certainty we would have had if the shares had been placed via an orthodox structure.

Lanstead has a large holding of shares in NFX, as part of their overall risk management programme they have a choice of holding or selling a portion of that holding as market circumstances change. The detailed placing documentation may include some restrictions on what they can do with their holdings, but I would be astonished if there were any restrictions on any remaining holding from the first tranche. So as a practical matter they are not going to be able to dump 96m shares, but if their risk manager is unhappy with their large holding in a small illiquid share like NFX, they may well be seeking to offload say 10-20% to manage their overall risk position. Of course we dont know the identity of whoever sold Friday & Monday.

They are potentially selling because volatile falling markets - in the UK exacerbated by the mini budget - can continue & the last place you want to be is in small caps in a collapsing market. If you are an institution like Lanstead with large illiquid positions in small caps like NFX (ie 96m or 13.6% of the co) it could be prudent to sell down some of those holdings.

Lanstead last gave a notification RNS on 20 June, when they held 96m. Thats quite a position, given the dramatic market reaction to the mini Budget, it is quite possible they are de-risking from some of their smaller cap holdings?

The issue for me is do the spooked traders include (consist only of) Lanstead? Big selling at close Friday & Monday from a party hitting the bid.

Someone (s) with a ton of shares sold over 8 million after 16.00. Is that Lanstead bailing or CPI or a PI ?
It shocks me frankly as I thought RNS/interviews were unequivocally positive.
Genuine question - what am I missing?

I dont see these studies as doing nothing for our own value, they are moving us towards a licensing deal. The strategy will have been agreed to by Julian & Maddy, neither of whom have any links to the sub contractors, & of course aware of conflicts of interest.

FX I really think you are being unduly sceptical, this was the best we could have rationally hoped for. Whether the new studies will be more or less than the previous programme frankly does not matter provided the studies can be done without a placing - that statement clearly indicates they will be.

The big thing is Dan is back up front explaining strategy as well as pursuing it. It fully met my highest expectations on content. The final tests/trials will not impose an additional financial burden "These studies will be funded from the Company's existing cash position .."

What is the likely grant date given the publication date was 24.03.22?
ie is it imminent or next year?

The multiple small trades at 0.40 @ 15.08 are those 'Mulder trades'? Asking for a friend

Well I hope so, but whats your reasoning?

Well I remain invested after nearly 5 years, so look forward to a better future share price.

Interestingly on the subject of interviews a pal of mine has just said a message has appeared on the NFX Telegram site asking for investor questions for a forthcoming interview.