Member Info for pablo2

That’s now concluded for $2.71m cash @30p a share . Put that with $10m convertible loan and we’ve got something to be getting on with

Reasonable logic that the company is diluting but it has got $1.34m cash from issuing new shares. If the company disbanded tomorrow, it would have more than 26.4p to give out to those new shareholders as they're paying a premium to get in. So the value per share has gone up imo

Certainly it's easy to see a discounted placing is clearly a loser all round but raising at a premium can't be all bad. Say we raised $5m by issuing just 5 shares at a huge premium at $1m per share. Still dilution, but making the company more valuable.

Weird isn't it that a company does a discounted placing and 'down she goes' - do one at a premium and mm's not impressed.

RNS seemed quite straightforward, $10m convertible bond completed (could be converted @37p); $1m equity raise oversubscribed (now $1.34m) and being extended a week for further possible raising @30p (they previously said the $1m could be increased to $5m if there is demand)

Looks like a good deal, reckon the market might like it, we'll see tomorrow

Reckon it could have started today, Labro buying - will perhaps get Holdings Rns tomorrow.

I think this might break higher on no news but news will be coming soon and Labro buying, besides the $1m placing, could well give impetus

Great if someone can go but I'm busy. They've gone to quite a bit of trouble advertising and 'drinkies'.

Be interesting to find out if the ship(s) has sailed 'mid-march' with the ore and if has arrived (wherever it's headed).

A likely date for the smelter results would be good and whether this might influence the granting of our production license.

Doubt they'll be disseminating any Calidus news on the share distribution but possible.

Umm, interesting, must include that in my million word thesis for my PhD

Maybe Martin A’s waiver on buying more is going to spur the sp onwards - even if he hasn’t bought yet

Obviously not 'in the loop' or just plain crazy, sell our shares 2 days before they spike up. Siuppose there was the risk FDA wouldn't meet

I doubt it, Dekel would have sold it all for about 15p a share to some Chinese outfit

Aye, good old Artem.

Rumour was about that Dekel was finally getting rid of all his holding and the last week's director deals were to absorb his shares. That will soon be the end of Dekel's and anyway the company looks to be going from strength to strength.

I've asked Chris Eger CFO to explain a bit more simply Ciftay's deal which is a fantastic one to make sure construction gets up a pace.

Getting the construction company to come in with a $31.5m investment at a large premium I think is fantastic for our future.

placing @ 2p

Reckon he could be going again on the Buying front even after Friday’s and Monday’s combined £200k purchases

Sorry that it has dried up on here, there is quite an active group on a d v f n and simply can’t be bothered repeating here.

Sure the new R & R for Tulkubash will come in March and similar news for Kapan with Life of Mind increased for the both.

Production figures for Kapan - these should be released regularly but how frequently I don’t know.

No surprise the sp is drifting with lack of news but should be reversed soon

Great spot on the smelter results. Not sure of the implications but think everyone is agreed the whole process of allowing a license for the bulk test and then pulling the plug after success would be daft in the extreme.

Looks good for some really big developments in Togo very soon to me.

Once the PFS comes out in Q3 and it's positive, a distribution of Calidus shares to KRS holders will take place. The shares will simply be issued as CAI Asx shares on a pro-rata basis to KRS holders.

The shares can be released from Escrow in June but we won't qualify for these performance shares until the PFS is released in Q3 so that will simply delay distribution a few months.

What 'company reconstruction' is needed? DR has never mentioned that in his emails to me.

In January he confirmed my stats :
723,750,000 CAI shares coming our way on positive PFS
2289m KRS shares exist

So dividing up, one needs 3.1627 KRS shares to merit 1 CAI share

So 1m KRS shares gets one 316,186 CAI shares

Curent costs and values : 1m KRS costs about £3,800
316,186 CAI are worth about AUD7905 = £4,300

Another non-answer answer I'm afraid after I asked :

"But where to now with Toga? Does the acceptance and testing of this sample have anything to do with our getting a mining license? Does the end-user have any clout with regards the Togolese authorities?

Sailing mid-March with our shipments. Can you say how long roughly to arrival at end-user or how long any testing might take?

I am very hopeful that long-term my investment in Keras and Calidus will come good and this year it looks good for the distribution of CAI shares with a positive PFS. Can you shed any light on when we might proceed further in Togo, presumably the bulk-sampling license was not granted as a one-off as that would be ridiculous.

Regards,
etc

He came back with :
"Evening pabs

Thanks for the email and your patience as a long term investor.

Unfortunately I can’t say more than what you have read in our announcements.

Obviously this is a big step forward and shows the relevant authorities in-country that we are capable of mining the Nayega deposit so can only hope that it focusses their minds.

With regards the timing on the smelter results we will give everyone an update as soon as we have more information.

Best

Russell"

'bout as long as a piece of string

I posed what you'd said JimBL at 08:49, basically :
'In all fairness, the dmtu price hasn't made the project viable until recently as it dropped in 2015. Was that why the license wasn't pressed for?
But manganese has risen enough in the last 2 years to make this a profitable project again and I am having trouble understanding why the BOD isn't being far more informative on where we now stand.
If we got permission for the bulk sample, then why? The site is apparently equipped and ready to mine. The sample is showing it's profitable. Local labour was used and more jobs ready to be created.
I'm more interested by what isn't being said than by what is.’ and asked, 'What now?'

I knew DR couldn't say much but he came back with :

"Everything stated is correct. This question is probably best directed at Russell but I doubt you will get an answer as we are just not in a position to answer with any useful detail prior to any potential market announcements.

Obviously we want to get the full operation happening and I believe that is a benefit to all stakeholders and would seem the logical way forward."
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It had struck me the end-user will need to process before giving the go-ahead - the 10,000 tonnes hasn't even left port yet, so I suppose that's another month or so.