Member Info for Mitch984

""As a long term shareholder"

Mitch your full of it. You're the same tool who was trolling the share saying 'Nothing was going to happen quickly'

You bought ZIOC and you felt sad."

...and nothing is happening quickly, is it? Just the same as with Zioc, who are sat on a similar immense resource in the same country.

All I'm trying to point out to anyone who has bought in the last six months expecting things to take off, is you will have to be patient.

I bought both KP2 and Zioc several years ago expecting to have multi-bagged by now. I still expect to achieve that - but "when" I have given up on trying to predict.

HtotheK - instead of calling me a tool, what factual info do you have to contradict that? None. Just like mine, its an opinion - which is what this board is all about.

As a long term shareholder, can I just respectfully remind recent holders of my post below from May. Not mentione in my post, in my five years of holding KP2, they have hardly ever been "on time" with an anticipated/important RNS.

I fully believe in the long term prospects for the resource. I don't fully believe unfortunately in the KP2 management or the willingness of the goverment of the ROC to assist in bringing the resource to market (the infrastructure to transport the potash out of the country is not there at present and needs government co-operation).

Anyway, lets see. I am still optimistic, but at the same time pessimstic as to whether my KP2 shares will pay off to the benefit of myself (fingers crossed) or my grandchildren!

This was my May post:-

"Just a tempered warning about KP2. Firstly the market makers are not holding down the share price pending news. The trading volume in this share is way too small for any MM to take an active interest.

Secondly regarding the impending/possible funding news. There has been zero increase in the share price in anticipation.of said news. If funding had been agreed or even close to being agreed, believe me, there would have been significant buying.

Why? Because KP2 leaks. I bought this share in 2018. It rose to 8p in 2019 in anticipation of the release of the January 2019 Kola DFS. However in the weeks directly before the RNS the share price collapsed. Then the DFS came out revealing how expensive the project was. A co-incidence? Maybe, but hard to imagine.

That is why I am pessimistic about the impending funding news. If it was positive, we would see some serious buying from people who are "in the know", but shouldn't be.

I do hope I'm wrong because, like many, I fully believe in the quality and potential of this project and I'm here for the long haul. I just don't have 100% confidence I'm afraid.

And before I'm denounced as a de-ramper, I really do not want any more shares, thank you. And the share price can't really be de-ramped any lower than it already is anyway."

C'mon guys. Lets have a bit of realism here.

The address change is purely a change in the registered address of the UK company. KP2 do not, and never have had, a staffed office in the UK.

And please, lets stop this claim that MMs are holding down the price. This is a penny share on AIM. Yes it has tremendous potential, but it is of no interest to any MM. There is not the daily volume to earn a MM more than enough profit to buy himself an extra coffee at lunchtime.

The movement in the share price, both up and down, for the last two years has been driven solely by small investors like ourselves on boards like this.

That will be the case until we get an RSN that states financing is in place and gives an actual date for construction of the mine to actually start. That could be in one year, two years, or (with how slowly things move in the ROC) twenty years. Until then, its speculative investors like us with our small buys and sells that determine the day to day share price.

Just a tempered warning about KP2. Firstly the market makers are not holding down the share price pending news. The trading volume in this share is way too small for any MM to take an active interest.

Secondly regarding the impending/possible funding news. There has been zero increase in the share price in anticipation.of said news. If funding had been agreed or even close to being agreed, believe me, there would have been significant buying.

Why? Because KP2 leaks. I bought this share in 2018. It rose to 8p in 2019 in anticipation of the release of the January 2019 Kola DFS. However in the weeks directly before the RNS the share price collapsed. Then the DFS came out revealing how expensive the project was. A co-incidence? Maybe, but hard to imagine.

That is why I am pessimistic about the impending funding news. If it was positive, we would see some serious buying from people who are "in the know", but shouldn't be.

I do hope I'm wrong because, like many, I fully believe in the quality and potential of this project and I'm here for the long haul. I just don't have 100% confidence I'm afraid.

And before I'm denounced as a de-ramper, I really do not want any more shares, thank you. And the share prioce can't really be de-ramped any lower than it already is anyway.

C'Mon LT. You know better than that.

The "Market Makers" have no interest whatsever in a share as small as this and with such small £ volume trading.

Do you seriously think they would manipulate the price to make maybe £50 when they have far far bigger fish to get involved in?

The price of KP2 is driven solely by small traders buying/selling and computer algorithms. There is, and never has been, enough profit in it for any MM to spend one minute of their time "preparing the ground".

AT's other company has been busy.

https://www.investegate.co.uk/cornish-metals-inc.--cusn-/rns/results-of-special-meeting-of-shareholders/202205200700072338M/

Maybe once this placing is complete he will get back to what is supposed to be his main employment - at Zioc!

Its only libellous if it is not accurate.

And Blaimthrower's post is 100% accurate.

KP2 does look to be further ahead at present, with an announcement due on financing next month. Although there is no guarantee that financing will actually have been acquired by then.

Hopefully it is, as the only thing that will get things moving in ROC is a major mine actually breaking dirt. If that is KP2, then it might prompt action on ZIOC.

At the moment no major seems to be showing any interest - or courage - in investing in mining in the country, despite the quantity/quality of Zanaga's iron ore and KP2's potash.

Thanks to Paul, Phil and LT for those comments, which were very useful and re-assuring.

I think I am jaundiced a bit by my investment in Zioc (in the same country) which has a similar high quality resource that China and other countries desperately need (iron ore) and for which prices have risen dramatically from a few years ago. But there has been zero progress in getting it out of the ground - even when a major like Glencore has a 50% share.

I'm hoping KP2 actually gets to the spades-in-the-ground stage soon, as a major project getting underway might be what the ROC needs to kick start mining in the country. At present there seems to be a huge reluctance to do anything there.

Firstly let me say I have been invested in KP2 for over five years and fully agree with everyone's positive view on the potential of the project.

However after the Consortium submits the EPS (Engineering, Procurement and Construction) proposal in a few weeks, we need to remember that the profect still has to be financed.

Yes, the Consortium are expected to provide a "financing proposal" some time following acceptance of the EPC, but lets not forget the word "proposal".

At no stage has there been any indication that the Consortium will come back at that stage with an actual agreement on the finance. RSNs have glossed over this a little - it could be that the Consortium are only expected to come back with a list of possible ways the project can be financed. And that would leave us no further forward than the past five years - when KP2 itself have been looking for an entity or country to finance the project.

I hope I am wrong, but after many years of false dawns on this project - and with the ROC itself having a track record of nothing happening quickly (see ZIOC) - I am not sure we are as close to the reward time for shareholders as some have suggested.

Like I say, I do hope I'm wrong!

I think it better reads:-

A timely reminder of why we are STILL here! LOL.

I'm not sure the BOD can do anything else but wait on Glencore unfortunately.

Glencore have alway called the shots, and always will.

Total stalemate with Glencore in my view, and AT far too involved in Vision Blue to be concerned at all about ZIOC.

Very sad state of affairs, and the Board should be ashamed of themselves.

I think the biggest mystery here is why anyone would be interested in developing Simandou when there is a lower capital cost alternative with easier construction and the same high quality ore in an adjoining country that is slightly more stable.

It's something I have never been able to understand during my many years of holding Zioc shares.

"Is it possible Vision Blue will have a relationship with ZIOC?"

Very little chance of that I would guess considering Sir Mick's past history with Glencore.

https://ca.proactiveinvestors.com/companies/news/977945/cornish-metals-hails-strategic-investment-from-mick-davis-vision-blue-resources-977945.html

This is where I personally think AT sees his future. ZIOC is in a stalemate situation with Glencore, so my guess is that 99% of AT's time is spent on Vision Blue.

I think that is exactly the kind of deal Glencore want for ZIOC too. The only problem is, the copper mine sale includes an significant offtake agreement in Glencore's favour.

That to me is the sticking point - I have doubts the Chinese would want to purchase and develope a mine where they had to then buy the ore from a third party (Glencore). The same would apply to another mining company too.

I am sure there has been enquiries to ZIOC over the years about buying the asset, but they haven't gone anywhere because of Glencore's insistance on offtake.

Just my opinion of course.

Plenty of sellers mixed in with the buyers, which probably tells something in itself.

Even though an update is due, nothing will happen quickly with KP2. Its located in the same country as ZIOC, another huge prospect that just doesn't seem to go anywhere sadly.

"I'd be very happy with 33p right now never mind 330p"

I'm starting to feel the same. Yes, we all know its worth 10x that as a minimum, but unless I can find the secret to eternal life, I'm not sure I will be around to see it.

Looking forward to Monday to see if the 35% gain on Friday was just AIM speculators or based on someone somewhere knowing something that we don't.

There has never been a Zioc leak though, so I my guess is it was just speculation.

A mention in The Times today about Glencore having 13 assets under internal review for disposal, as first mentioned last year in their Investor Update.

Lets hope Zanaga is one of the 13. probably the only way the project is going to move forward - unless BHP buy Glencore out.

We can but hope, as nothing seems to be moving at present. Personally I think AT spends most of his time on his other venture now, and has lost interest in Zanaga.