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On Wednesday Nov 20th everyone can Sell their KRS shares and still qualify for the CAI distribution. However, before 8 am opening the mm's aren't daft, they will mark KRS Down sharply before Open as they have basically gone 'EX'. So, overnight the shares will tumble a minimum of 25%, maybe 50%, if we're still in this No Togo situation.
Well it seems no-one disagrees with my figures so perhaps they're right.
If purchases can still be made @ 0.43p that makes the equation considerably better because I said the cost of 1m shares was £5000, should be £4300, so one would get 1m shares in KRS for MINUS £175 as the CAI shares are currently worth £4475
I published the correct figures for the distribution in January, verified by Dave Reeves, but here goes again :
723,750,000 CAI shares coming our way on positive PFS
2289m KRS shares exist (NOW 2491m !)
So dividing up, one needs 3.1627 KRS shares to merit 1 CAI share (NOW 3.4429 for each CAI)
So 1m KRS shares gets one 316,186 CAI shares (NOW 290,453)
Curent costs and values : 1m KRS costs about £3,800 (NOW £5000 !)
316,186 CAI are worth about AUD7905 = £4,300 (NOW 290,453 are worth AUD 8133 = £4475 !)
So, in January, it would have cost £1200 less but the CAI are now worth £175 more - so the sum has changed a bit mainly because more KRS shares exist and our share price is considerably higher. So, buying now, if all things stay the same until distribution, a £5000 KRS investment gets back £4475 worth of CAI shares and you get to keep the TOGO dream alive. Not as good a deal as January but still a good deal.
Watch out genius at work !
Dave is for the small holder and has a lot of empathy for our situation. He has conversed with me several times by email but lately, understandably, only on CAI matters. He's now a non-executive director for KRS and so is rightly passing the reins to Russell. Russell is in charge of disseminating any and all information to shareholders on KRS as he can and as he is allowed to.
Dave, smashing bloke, the man to bring CAI forwards. Don't expect him to discuss KRS licensing.
Got another £1k worth of KRS today so I'm now feel ready for the cut-off date but think it's a while yet and we'll hear of the court cases for capital reduction first.
Yes I did, thanks. I sold 9,487 @ 34p from my Dealing a/c and closed my long CFD of 6,000 too at 34.1p
Excellent bit of patience from me and I've still got a massive(for me) holding in my ISA.
Shakhtar, you are so kind doing all this work for everyone with all your wonderful figures showing what mad fools we are. Why don't you leave us to our madness, we're quite happy. The mgmt are doing a great job and all this dilution you're talking about has not been happening willy nilly through the years at all. Today's issue of shares was all forecast and documented in the Re-admission to Aim document published last December.
"This Incentive Plan, which remunerates with locked-in shares and options rather than cash bonuses for top management, means the team are rewarded when all our shareholders are" Further "The senior managers of the Company that will participate in the new incentive scheme will not be entitled to cash bonuses during the three year vesting period. "
Chaarat moving on from strength to strength and the market seems to agree
But what a terrible price, 10p a 9.5% premium.
Looks to be all stitched up, mgmt and major shareholders approvals. After all this time, they're giving away the company and have the gall to suggest we should be grateful - disgusting.
I see we've got some traders amongst us! Good luck but not sure it's wise to go 'all out' to think about getting back later. If, big IF, Martin A. decides to go all the way with his 4m waiver, he needs to Buy 252,729 daily on average for the 13 trading days up to 5pm Fri Oct 4th !
Good old Martin.
Think it's very critical of some folks to say he's just propping up the price, I think it's fantastic. To have the chairman, and indeed the BoD, with so much skin in the game is the greatest security we can have.
Gives me every confidence that our debt will be serviceable and the project(s) will all come to fruition
Don’t like comments that if it weren’t for Martin we’d be useless. He’s gradually taken his anonymous holding (Wilsher Fasanara) to become Chairman and the linchpin of the company, built the Board and team and we’re really moving now, the dark Dekel days are well behind us.
Just thinking in a lot of Aim companies the Board often have a fair slice but usually they took them at company start-up at next to nothing. Not the case with our Martin, I would reckon his average might be over 20p.
Looking good
Nice of Piri to confirm we've still got a decent holding. 12th August we stated : 'owns 847,250 shares in Eco'. Hopefully, we ain't sold many more yet but surprised today's Eco announcement didn't trigger much of a sustained rise. Obviously a lot of profit takers, perhaps we are amongst them for some of our holding.
Strange how someone reckons it's a good time to be dumping 1 or 2 million late on most days. I'd have thought it was a good time to be invested not de-risking or whatever is that's occurring.
Anyway, getting back down to very tempting levels if one has any cash.
See, however, CAI has also been drifting the last few weeks, down to A3.0c
Ok Ariel, pity. Sp hasn’t done much these last months and know a lot of people are frustrated.
For interest, are you able to say how many you’ve sold lately?
Markyess - reckon you're right in that Brian and Dave did need to convert to shares to qualify for CAI distribution. I remember with SOU distributing CORO shares I exercised some warrants in SOU otherwise the warrants did not qualify for the CORO distribution.
Really looks to me that ECO sp has got legs for the next month or so pre their next drill results. If we feel we have to de-risk further I hope we wait a while yet. If their next drill hits.......
Pity PIRI is now as quiet as a mouse, again
CLIMATE: Togo has a tropical climate with two wet seasons in the south, one from March to July and the other from September to November, while the north has one wet season from April to July. Most rainfall occurs in the mountains while coastal regions are basically dry.
We're in North Togo, so our 'wet season' is normally over now I suppose.
Don't know about 'moaning poms' but the Hotcopper Aussies are moaning about having a drill program that might last a while and the sp responds downwards for CAI. Necessary for the DFS though, all these studies do seem to go on a bit with all miners : Pre-Feas, Feas, Bankable Feas, Definitive Feas, .......
Prop - go ahead, I need the publicity, so does Keras !!
Yes you're right, the first thing is the GM to gain shareholder approval for the whole distribution business (obviously a foregone conclusion).
"This process requires the approval of shareholders, UK and Australian tax and regulatory authorities and subsequent approval by the Court." No wonder with all that red tape to get through it will take to year-end. No bother, it'll be worth it in the end and if anyone has any cash, it's still well worth buying more KRS simply on the CAI distribution never mind the 'imminent' (lol) Togo license.
Think the next we'll hear on the matter will be the court date(s) for the 'reduction of capital'. Don't think we'll get the 'Record Date' until after the court (which may take two visits) but the actual Record Date could be announced provisionally before the court takes place. (Just using the timetable SOU used for reducing capital to give away CORO shares)