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Steward - sorry if I gave the impression I thought you were art of the Pandora group. That wasn't my intention!
FWIW, if there's 1 person I would believe on this BB, it would be you. It's the first time in 2+ years I've heard you say this type of thing.
Sounded a bit like a love in!
If I had a genuinely reliable source, I'd load up first, then let the world know.
But with regard to other people's sources - unless i know them personally, take it with a pinch of salt and the Pandora group's sources, I'd probably assume the opposite.
Robld - as others have pointed out, you have only recently come to the PREM BB and your only contribution is to spout negative this, negative that. And now you seem to be struggling to accept the history here.
Ask anyone who has been on this board for 2 years if I am correct about Daz and Laverda.
In my mind, it is VERY clear where you have come from. Go back to whoever your other alias is on the KOD board please.
Robld - kindly show me the post on the KOD BB where PREM posters are to blame.
I would like to correct them. Daz has been here 2 years. Laverda just under. Show me a post from a PREM holder on the KOD BB that posts negatively on KOD that is anywhere near that old.
ACKER - elcobb and others live in a different world to the sane.
YOu correctly point out Zimbabwe is a fine place to do business now. But even if it wasn't, how that is relevant to MALI I have no idea.
elcobb and others seem to think if MALI is the second worst place in the Universe to do business, then it must be great. A bizzare standpoint.
Gazza - I clearly DO need to point out risks here. This board appears to believe WAR is trivial.
I accept your point re getting people's backs up - but I won't take any lectures on this. Daz and Laverda have been on the PREM BB for 2 years now, getting people's backs up. Myself and others initially tried to reason with people nicely on this board to encourage this to stop. I never resorted to abuse and insults. But sadly it didn't work and then more and more KODDERS came to the PREM BB and enough was enough.
Myself and others have been pointing out correctly the possible risks in buying shares in KOD for a relatively short period of time. Many on here appear to think it's ok to do it on another BB, but do it on their's and you are the devil. Hypocrisy at its finest.
I don't like making SP predictions any more, but surely if a new deal is agreed (and not significantly different from the last one) and SC6 can be shown to be produced, surely the SP has to be well above the 1p we were at previously, when a deal as also in place, but no SC6?
Gazza - Daz started on here around 2 years ago actually. Then Laverda joined him the create the Chuckle Brothers - to mee, to you with their incessant posting of rubbish.
We were all very patient for a very, very long time.
Gazza - just doing my bit for potential investors to see through the rampy nonsense spouted here. Just look at their response to potential WAR!! Dismiss it like it's nothing.
HUGE risk here.
And the abuse and insults I get from the Ostriches (water of a ducks back) for pointing this out rather than any menaingful response indicates to me that they agree with me.
Hope the decent KOD investors got out on the spike.
This $3.5m is not new money and will have to be paid back (or converted into shares - whichever is better for Hainan - so obviously they will just want it back).
What will this money be used for? Bernie's salary? Obviously nothing much else happening. Looks to me like this prepayment is simply to keep the lights on.
Financing is STILL not agreed and the wording of the RNS implies that another extension is likely. Why, if everything is rosy?
The following 2 paragraphs are of significant concern. A potential 12% interest rate on the prepayment amount if completion does not occur. Hainan can elect to take the whole lot in shares. In other words, take KOD for peanuts. If the financing doesn't go through, it's likely KOD is finished. KOD has also agreed that the proceeds from the of sale of Bougounio West licences can't be used by them! Wow! Their own money they can't touch.
"In the event that Completion does not occur by the Longstop Date or the Subscription Agreement is otherwise terminated, the Company shall repay the Prepayment Amount plus accrued interest (calculated at a 10% annual interest rate applied from the date when the Prepayment is received) on or before the date falling 90 days after the termination of the Subscription Agreement (the "Repayment Date"). If the Company is unable to repay the Prepayment Amount on the Repayment Date, an additional 2% annual interest rate shall apply and Xinmao shall have the right but not the obligation by serving notice to the Company (the "Conversion Notice") to elect to convert part or all of the outstanding Prepayment Amount plus accrued interest into new ordinary shares in Kodal at a price per share which is the lower of: (i) 85% of the mid-market closing price of the Kodal's ordinary shares on the business day immediately prior to the date on which the Conversion Notice is received by the Company; and (ii) 85% of the VWAP for the 20 consecutive business days immediately prior to the date on which the Conversion Notice is issued by Hainan.
Kodal has agreed that any funds received from the proposed sale of the Bougouni West licences to Leo Lithium Limited (or its subsidiaries) (as announced on 19 April 2023) will be placed into a dedicated account and Kodal will not use these funds unless it is to repay the Prepayment and any accrued interest should Completion not occur by the Longstop Date or the Subscription Agreement is otherwise terminated. Kodal expects to receive £1,600,000 upon completion of the Bougouni West sale. Following Completion, the funds received for the Bougouni West sale will remain exclusively for Kodal to use at its sole discretion."
Hainan have KOD over a barrel. The smart investors got out on the spike. SP heading back south again as I type as investors realise what a disappointing RNS this actually is.
Should the funding collapse, can the last one out turn out the lights.
Elcobb - what the hell has Zimbabwe got to do with KOD? Please explain to everyone here how any situation in a completely different country (without even a land border) bears any significance whatsoever with the current situation in MALI? Even if Zimbabwe is the worst place in the Universe to do business, how does this relate to the awful situation in MALI. Are you seriously suggesting this makes MALI a great place to invest, if they are awful, but quite so bad as somewhere else? I strongly sugggest you review your investment strategy if you currently base it on "well MALI's not as bad as somewhere else, therefore it must be great for mining".
What an completely bizarre statement.