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Never known such a gloomy notice board. Lol.
1) We now have at least 30 months cash in the bank . Not going to go broke.
2) We have activist investors with major financial commitments / skin in the game. These guys are not going to just sit on their hands.
3) The guys who bid 33p aren’t just going to up and disappear. Nobody makes their best bid first time. They have spotted value and will be back.
Only a matter of time before this comes good, and likely sooner rather than later
Excuse me stating the obvious.
If he is paying 100M for 20% of the company, then the company is nominally worth £500M.
Take the number of other shares currently issued, divide it into the remaining £400M and the price is 35.5p per share.
Car3Y, your message was very very prescient. I will follow you more closely.
This placing is extremely good news. The sensible thing at this point would have been to let the company fold. However, some people were convinced of sufficient possibilities to throw more money at it. These investors must have been told an exceptionally good story.
I would suspect (without any evidence) that a sale is very much on the cards. There is simply no other reason to further invest in a non producing mine which is, to all intents and purposes, bust.
Gentlemen /Ladies
What you must keep in mind is that the major players in this stock have all been averaging down. My understanding is that at least two such players are now at around the 2p level.
These people will undoubtedly bale for, say, a 50% uplift at 3p max. thus keeping the price at or below this level for a very long time indeed.
I regret that anyone dreaming of 5p plus share price any time soon is sadly deluded.
Tucson You are correct. They run out of money around October / November.
No further placing possible as takers have all been burnt in the past , and no intrinsic value at this price anyway.
Either a company buy out comes through by early Oct or we are toast.
Personally, as a potential company buyer, I would let it go bust and then pick up the assets
But hey, this has always been a hope and a prayer.
All good stuff, but regretfully nothing here has actually changed. Everyone was already aware of the resource if not the exact numbers.
The company still lacks the funding to extract the resource and will currently run out of cash around November. The city has been burnt with the placing at 6.7p and won't be investing further.
So we are still reliant on a takever of some description being agreed between now and November.
This Jorc is simply an advert towards that end (quite a good advert though).
Sorry Mr Cautious, but KZG have not mined anything for over a year and only sample shipments before that. There is no cash inflow.
Should they again fail to come up with any news (ie Jorc) in the promised time frame (ten days) I suggest we all run for the hills.
As a CEO of several enterprises I can assure you it now comes down to this.
The clock is ticking as Kaz burn through the last of the cash. (eight months tops). Can Kaz do a transformational deal before that clock runs out, or will the prospective customers/partners simply let Kaz go bust and pick up the pieces for a song (As in house of Fraser etc. etc.)
At this point, all other speculation is irrelevant.
4Unme. I regret the ONLY hope is a buy out after the JORC.
This lot don't have the money for a pipeline, or any repeat chance of going to the city for more funds, and cash will run out before year end.
Our only hope is that some major end user thinks he can get the Tantalum out of the ground here for less than he pays in Rwanda. (And is then willing to enter the mining business).
Its a long shot at best, but at this stage/share price there is little point in selling up.
Article is a great find. well done
If you read into the article, the only reason for re-hiring these people appears to be to prevent the government from rescinding the mining licence (as requested by the union). No activity = no licence.
Not desperately reassuring