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The Market Maker is preparing the ground by the looks of it - the Ask price is up on such little volume!

6 trading days left before we will find out.
Maybe the S&P500 and NaSDAQ crashing will make funding a boring but crucial (food supply) industry more attractive for big banks, compared to (ex) high flying tech stocks.
In any case, US markets may drop another 10-15% before bottoming but most of the drop is due to the FAANGs coming down to earth (about 50% of the drop is attributed to them).
Therefore, other than a few over-extended PIs I don't foresee big SELL volumes if we have good news while the US markets crash. IMO

@Wacker
From Q1 update on April 22nd:
The Company's focus during the Quarter has been on the Kola Project. The Company is still assessing the most appropriate next steps for developing the DX deposit and associated pricing and intends to update shareholders further once these steps have been confirmed.

RNS on EPC proposal has been promised/confirmed by end May, so you are 50% correct.
RNS on EPC acceptance & financing has also been flagged that it would follow very soon after the EPC, due to regular communication between KP and the Consortium so as to streamline the process (plus, it's already been 1 year in the works!).
Given the timing of the AGM, it's not far fetched to have the 2nd RNS on the morning of the AGM, just to spice things up a bit. In any case, soon the speculators will get wind of the imminent news so that might give an extra boost to the SP?
GLA, DYOR

Usually, on such low-ish volumes the SP would not budge. It's only possible when the mkt Maker wants to manage the SP gently upwards (or downwards, depending on their view) in expectation of news, that the SP starts moving.
Yes, people are taking positions for the coming news - if there is a leak to insiders and the news are phenomenal, obviously the SP will jump before the release of any RNS.

Well, if things go according to plan, they could raise a bit of cash in a few months - is the SP is, say, at 5p that's a mkt cap of 250mln so any dilution will be minimal (5%?).
If things don't go to plan...who knows?

about 9mln USD as at 31 March, if not mistaken and enough until March 2023, as per the RNS.

The SP is around were it was 1 year ago. If we ignore the 50% jump a few weeks ago in anticipation of the Opt. survey being completed, where does this leave us?
There was profit taking and the price deflating since the end of March, which means it is definitely not overbought, rather it is oversold, which it is a good foundation for the SP to jump if the news are positively received.
Downside, as I have said before, could be just 5-10%, towards the SMA200, if we have delays or a horrible RNS?

Some nice buys going through already (but showing as SELLS!).
10 trading days left (to 31st).

https://www.bbc.com/future/article/20220512-the-chemicals-that-linger-for-decades-in-your-blood

In theory (ie if GJB keeps his promises - BIG IF), we expect:
UK trial ending, extension of orders
News on CR
News on Mtox BT
Mass production details
Over and above, H2 2021 financials (margins, cash levels)
Update on SCT numbers???

There may be an element of fear, so some people may jump ship if the Mkts tank in the US; however, it's mostly the cryptos and tech that will "burn" whereas on our S/H Register it's mostly long term holders who understand the potential rewards.
Most of us are sitting tight and waiting.

Already the SP is down from 1.80 to 1.20 i.e. 33% in just 6 weeks.
SMA200 is at around 1p so I would guess that downside risk is around -10-15%.
US markets may have another 10% to fall but it won't be in a straight line, and it may be over the next 2-3 months.
On the upside, if the EPC is around 1.5 bln to build (as per last RNS), and offtake + royalty agreements cover the 4 year development cost (big if), then the potential is very substantial.
Whatever happens, on 22 April KP2 re-affirmed the 60 days max, counting from April 1st i.e. by end of May the EPC will be announced. Soon after the Co's acceptance and the financing too, as per the same RNS.
DYOR

I can see why you are cautious Mitch but the devil in the details is the OFFTAKE agreements (potential, at this stage).
What has substantially changed in the last year or so, which makes the project more attractive and necessary is:
1. Potash prices more than doubling;
2. War in Ukraine - nobody expects that sanctions against Russia and Belarus (40% of global production) will be removed in the foreseeable future; even if they did, in 2-3 years, their old clients would prefer to rely on other suppliers.
But after 5 years, waiting for another 3-4 weeks is nothing - hope you get your rewards.

I hope you are right...perhaps the MMs are being cautious in general with all the USA turmoil i.e keep the spreads high and lower than normal Bid prices, irrespective of Buy Volume.
BTW, I bought 500k @ 1.25 yesterday, no problems. And now someone bought 806k (nice round 10,000!), seemingly without any issues.
Definitely we will have the EPC proposal in the next 5-10 working days the latest, and given the ongoing coordination with Mgt, possibly a very quick acceptance of the EPC terms and the financing proposal soon after. So, within the next 4 weeks everything could be wrapped up.

Or, they have a pending SELL order (rather big) on their books and hence the big spread and low Bid price.

Phil,
As financing discussions have been ongoing for the last 2 years, at least, you are probably right.

Regarding the 20x, I think that in an average scenario you are being too conservative.
But we will know soon.
GLA

Sorry, to add...
1.5 bln will be spend over 40 or so months so it is quite possible that good offtake agreements might cover all, or most of this cost. So, it all depends on these details, hence the mkt's expectation of the EPC and financing proposals.

SFnk,
The consortium will probably borrow from banks anyway (1.5 bln), in part or in full.
And for a 4 year project (appx), long term interest rates rising might have an impact.
Of course, interest rates (bond mkts) have been rising since December, plus a potash project might be more attractive to banks than lending to tech companies. So, these issues may already have been taken into account by the consortium.

Just bought 500k at 1.25 - 2 months from April 1st will be up soon.

My only worry is if this market turmoil can scupper the financing part of the EPC proposal.