Member Info for Know0

Oiltap - nobody invested here disagrees that its a large mine and its growing etc

The issue is that management say one thing one month and a totally different thing the month later - Ive seen (between here and discord) a few have sold out because of that lack of trust

Its a real shame as there is big value to come here - but if dilution (which to me was inevitable at the start of the month) is now going to happen, then on the back of notifications since mid Dec, management have been unable to meet any of their RNS commitments within a matter of weeks

NF covid protocol is release 5 days after testing positive (RMM havent said theirs is any different)

They havent produced ore in Dec and not much from end of Nov it would appear - and nothing for January

If all the staff were reassigned to dev work and contractors bombed out, why not say that? If contractors not bombed out then what have the employed staff been doing?

Too much uncertainty and RNS are creating more uncertainty than they are resolving

Looks like this year is going to be a tough one for us PIs as I cant see the SP getting anywhere near our expectations of just 2 mths ago when finance was announced

I will be happy with 65p by the end of the year at this rate (and that assumes only 10% more dilution)

Getting close to my buy orders but nowhere near my sell ones!

GLA

Fair post Aim

Yes I dont see much upside from shorting at these prices - Passmore appears to agree as he said he would short again when it gets to mid 40s (I think?)

It is likely going to yo-yo in the 40s IMO until some decent news - the churn of shares at these levels mean new holders are setting the floor here so when it gets to 42p, I think we will see 45p soon afterwards - whether we then see 40p or 50p is anyones guess though! until there is a major event - hopefuly Full Yr reports and decent fwd looking statements will be that catalyst

Although, only 460k volume again today - its going to take a while to get a decent buy filled at these levels

Its been a week since the RNS that brought us down here and 12 days since the contractors flew back to Deer Lake to isolate - still no update re the few isolating, nor the "financial impact"

Will be very interesting when and what the next RNS says about it as this could give us a lot more incite into what the BoD really meant in that RNS

All will be revealed in due course I guess - for now, just sitting and waiting

GLA

DJ - if there is a big buyer in the midst, then maybe this drop was orchestrated for them?

50,000 and 2x60,000 trades today at about 35p

Are we being shorted?

Small volumes still so SP easy to drop

Think we will have to disagree about the safety of it - with little or no debt, what would make it go bust?

Businesses dont go bust by a reduction of revenue, nor profit - they only go bust because they run out of cash - non IRFS debt is now pretty small and being reduced all the time

So yes I believe it is safe and it will no doubt yo-yo, but we can all make money at it

GL

It has certainly been a very frustrating share - glad I have traded it and made a load from it - but until there are dividends mentioned, the profit just doesnt seem to get it to the Mkt Cap it should be

I realise this is likely to to move between 35-45p without any ground breaking news - disappointed but debt free and of year and dividends is the next stage

Ive never seen the being a PE deal but god do I wish PE would jump in

However, Schroders did add about a million quid at 46p so they must believe its going to double from that within a reasonable timeframe

DYOR

some of those - eg AJ Bell, Barclays Wealth - will be us on our trading platform and not those institutions

1.6% doesnt need to be notified under a TR1

So the RNS says "As a precaution against the transmission of Covid-19, since 31 December 2021, a number of critical operators have been in isolation and unable to attend the mine site due to a positive PCR test result received prior to reaching the mine site"

As it is mandatory in NFL for all fully vac to isolate for 5 days (take a PCR and 5 days LFT) then a few contractors with covid should not create 14 days delay

This has been the case in NFL since 23 Dec so it will have been in the plan to get them back 31 Dec and isolate for 5 days - all those contractors that are negative will be available tmrw or Thursday - as planned!

So swapping some of the local crews could be used to cover the missing contractors

No real delay to the "approx 4 weeks" to complete the safety work

So why the RNS?

Well think back (or listen to the recording) of when TB was asked would the BoD come to the shareholders before further dilution? TB responded (sic) "This is what we have done today"

So IMHO, it was always in the plan (as I have said since end of Nov) to dilute further - I didnt expect it quite so soon, but covid opportunity was too good an excuse and smokescreen

I am now expecting an RNS within days that K2 have taken a further 5% at a discount to todays closing price and as a thank you a further bunch of warrants

I then expect wk 3 that we will get great Gold assays and even news of 2022 hedge which will push us back to high 30s

Hoping I am totally wrong about dilution, but this qtr could be the last opportunity to get the mates in on the cheap

GLA and pls DYOR - this is all my supposition - lets see

DJ - "as ramblers never had forward thinking management until now"

I believe that statement to be incorrect from my discussions with Tim - the plan that is being executed in 2021/22 is the one Tim and the Mine Engineers produced when TB was just a consultant at RMM - TB thought it was wrong plan as cost of contractors (whom he had managed previously) was too expensive

The difference now is that they have the money to execute previous plans which previously they didnt as they had to love hand to mouth

They always suspected that the copper was there at higher grades but they were simply underfunded

They talked TB into the plan and got him on board as CEO

Just FYI

GL Happy Easter

Monkey - although the Q was asked for clarification today (and confirmed that no such relationship with Riverfort exists) - we knew that very well as the RNS end of October TOLD us that

So just because you write "thats a FACT" doesnt make it TRUE!

Easy to sort though, its called research - glad to assist

GLA

A tiny increase in the short I am hazarding a guess that they need more sells to try and take it lower because to buy now to close their short will push the SP to 40p?

Its a gamble - get out of them now or try and increase their short to try and get out later?

Just my guess as I dont short

GLA

Monkey - the RNS link you shared was 30 June - pls read the end Oct RNS's where they confirmed paid off CLNs

As I said, really need to do your homework - latest RNS trumps earlier ones

Agreed that there will be less copper in January - because we wont be at the productive stopes - that was exactly what this weeks RNS said - but they will be very quickly back to full production once that work is done and with the % copper significantly increasing from some of the working stopes, this is why I believe we will get our Q1 copper content (even with the 2 week delay in January)

As for Covid, yes there is a risk (as there is with every business at present) that staff will be unavailable for a week or 2. But overtime will be paid to achieve as much as possible to cover any off sick and this can be managed in the short term

Moons parking attendant squad will have to be redeployed to mining tasks - good job there are so many spare parking attendants for the 250+ (thats right - over 250) not 48 that some clown quoted!

Anyway, all of that is more than priced in.

Enjoy the Santa Rally ladies and gents

Monkey - "I feel next quarter is not going to be all that good and they may then have to get more money again from somewhere. Hopefully not the cln"

You need to do your homework - the CLNs were paid off - gone!

the delay until mid March doesnt mean no ore - they will still be pulling material from the dev stopes

GLA

You know the SP is going to rise when Passwind arrives

Hi pall - great to see you back - yes I cashed in 125k worth of shares when we hit 50s and as soon as the short opened I was out of all my short term hold (not the cash in kids ISA)

Ive bought back in and will make great profit again

Think you are right that Jan Feb may be a challenge for the SP but not at last years levels or anywhere near it

Schroeders adding a M quids worth around 46p tells us that this is very much on track - turnover is vanity - 35% EBITDA growth year on year is sanity

Y/e 2021 - 427M debt - say 200M paid off from disposals and balance from retained earnings and CPI is in great shape

EBITDA growth is from closing old loss making contracts and targeting double digit % profit new tenders

Great to see these guys back because you know that they have to get their shorts closed and need to deramp - easiest share to make money on ever - way under valued and keeps being shorted - follow the shorts, sell up and buy again - 50p will be achieved before shorts step back in IMO

Have fun - 37p is a great entry point

AIM - if you are opening a short today. you must have more money (to lose) than sense

GLA

Brilliant. Did actually LOL!!

Monkey - No p

Oil - sweating the assets is indeed good news - achieving 1500-1700 tpd would be wonderful and hopefully this will be achieved in Q2

All of the points I raise all EXClude LD - that alone is a price breaker and there is no doubt in my mind that is TB focus now

The great RNS we had after the funding - drill results / delayed H1 financials, were wonderful and we were briefly over 40p - agree its not a big jump form where we are but in needs buyers to push it up - I just dont see buyers coming in the numbers required until we show we are truly performing - and for a whole quarter (not just 10 days or a month) - I hope I am wrong, but I am being realistic in that AIM needs RNS after RNS to maintain price - we have world class assets, we have very little debt and we are priced at a fraction of a developer - of course we are going to go up in price and 2023 the SP will have bagged maybe multiple times - BUT IMHO, that isnt going to happen in the next 3 mths, because buyers are not there yet

Wonderful mine results as we had today and yet SP fell!

50 grand purchase used as an excuse to hold SP down to fill it! What!! Its 50k not 500k - all the wonderful news we have had is mainly out there (for the next 3 months)

Maybe April we will get decent financial results for H2 to back up H1 (hopefully they will be able to comply with AIM regulations on filing accounts this time)

We know the price of Copper - so the hedge is unlikely to surprise us much.

Hence why I believe that the only way the SP will move is with confirmation of months of consistent output

As I say, I would love to be back at 50p very soon - but I cant see it (LD aside)

As for trading - I have said that I will be trading this to make up for the dilution (which I am disgusted about) - still holding circa 1.3M shares and want this to increase but not by spending more cash so no interest in shorting and no interest in adding - I added over 100 grand at around 20p when many here were wetting their pants about going bust

I'm neither ramping nor deramping - I'm being straight up with my thoughts as to what is likely to happen in the short term.

A buyout at 150p next month would do me fine - but i dont see that happening

DJ - the reason you dont understand my posts is that I am expressing honest opinion - not duplicitous

For weeks you have been accusing me of selling - but now we know it was West Face - a decent sized fund has sold out in full - their CEO has greatly benefited for his transfer value (plus the added bonus of the warrants) but thats still West Face / Boland selling down over 2% of the company in recent weeks - another reason that convinces me that there is unlikley to be much happening in the short term (LD included)

DJ said he bought 25k last week "to trade" - yet gets pi55y with others who say they will trade it when they think it will benefit them! Go figure!!

Anyway, Happy Easter all

Monkey - I think they will be hitting the 1350tpd for the last 10 days of January - and I believe they will get over 2% copper - the issue is that with quarterly reporting it will be April before we can get any decent sort of news, and now likely July before the great news most of us expect.

Oil -TB is a turnaround guy - he isnt a person to manage the company in "steady state" - he proved this previously and was pushed out quickly when the mine was working

LD will probably now be his focus - he (we) will now require at least 6mth longer to get to targets and targets have been reduced due to dilution

I expect come summer they will be sweating all the assets - I just dont think we will get to even 40p before March - hope Im wrong

Still saying cashflow positive / profitable in Q1 - lets hope the new finance guy and the new IT systems are giving us accurate info

GLA

Posset - spot on!! (hand clap emoji!)

BBW - I think the warrants are more likley to be part of the 5.4M granted 29 Oct 21 for the completion of finance - they were approx 26.6p

Looks like WF was the seller - took the price down then transferred 3.3% of company to Boland and also gave him a further 1.4% of company at option to buy at 26.6p

At least that is my take, but happy to be corrected - the warrants expire 29 Oct 2025 so would be 4 years from the refinance 5.4M

Nice deal for Boland - not so good for WF and 6.95% (pre dilution) now down to 3.3% for Boland is WF getting out now

We know they will have different pressures to PI but it doesnt suggest short term confidence in SP, but definitely supports the long term view - difficultly is the expected bags is reducing and the time to achieve is increasing

Only 2 weeks ago in the RNS did RMM say "achieve 1350 tpd in 2021" - now a 4 week delay - are they being economical with the truth? - or is this another "we didnt think it was important to mention the stope collapse until many weeks later"

Feeling a bit like a mushroom

Board being saved by the massive quantity and quality being found by the drilling - jam tmrw (unless we have more dilution)

Jury is very much out as to whether TB can really do this job

GLA and pls DYOR