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Agree, the covid excuse makes no sense. Even without lockdown it's likely these financiers are in different locations so they would have anyway set up a Skype, Zoom, Teams you name it. As usual, LC Is not telling the full story. We learnt that the hard way at Mbeya - "when not if" and "the stars are aligning" only until everything went balls up. Bordesley seems to be following the same pattern and I would not be surprised if Kat was resigned to the dumps as well - although I'm hoping it works out for everyone's sake!
I think LC needs another 6 months to digest the 14 expressions of interest. Tomorrow he will say they have selected 3 from the 14 and will need another month to perform due diligence (you heard this 1st here). He is either playing shareholders like a fiddle or thick as a plank.
I think we have to bank on Kat getting a brilliant deal signed off. If that happens we may reach 1p and allow the warrants to be exercised so that LC can continue to support his lifestyle. No one seems too confident in LC signing a deal at Kat even with 14 expressions of interest. That just tells you what the market thinks of him. A New CEO with a history of delivering will set rockets up this.
I think someone should investigate Kibo as I do not believe that salaries were not paid. BoD had plenty of cash to throw at the last placing. Raised $1.5m and never had money to pay themselves salaries? Not a chance. I bet that you will find that every board member received their full pay and are using this excuse to get a large chunk of the business at this opportune time.
LC is busy preparing his next RNS for tomorrow to get the SP down to 1.2p.
"Blyvoor is advancing with tremendous pace and focus and we have agreed to move the project financing date to 31 July due to Covid 19 constraints"