The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
They wonât fold this until they have squeezed every cent out of the market.
Just give it up you are just embarrassing yourself trying to pump this dog.
Interesting that CJM appointed to âPeak Mineralsâ 2015 and now âPeak Nickelâ 2017 around same time as appointment to âSouthlands Explorationâ and more recently âJDH Explorationâ and now this RTO which would suggest one of these entities may have found something of interest, but needs a listed vehicle to progress with the find - hence the RTO and ÂŁ4m to fund it.
as this becomes ever more illiquid for selling in volume.
Of course if wonât Jax, if previous performance is anything to go by, itâs very easy to say thatâs the plan and then when that deadline falls by the wayside, to just update it a year or so.
Gravy train for those receiving remuneration from the various placings and funding strategies, not so much for long suffering investors.
Well we all know what that means.
â The Company is currently sufficiently funded through its existing financing facilities, assuming deferral or otherwise settlement in equity of the bridge loan facility announced on 16 February 2022 and GBP660,000 Convertible Loan Instrument held by Kibo executive management and directors, to cover operational expenditure for the short to medium term while the Company actively pursues various funding opportunities. These include equity, debt and project financing, to fund the ongoing development of the various projects within the Kibo Group Project Portfolio and to bring the advanced projects, as outlined above, to Financial Close as soon as possible.â
â o Funding for the construction of new coal mines is not readily available, especially for thermal coal deposits;
o All the Kibo coal assets are situated in very remote areas with very little to no existing infrastructure, far away from any export port (more than 800 km) and with no significant local coal market; and
o The Kibo coal assets are thermal coal deposits and, although thermal coal is in big demand now, it does not command a premium price, which makes such deposits less attractive for exporters, especially when considered in conjunction with the above two points.â
Doesnât sound particularly attractive does it, nice to see it in RNS finally though.
How are they going to repay the drawdown amount plus interest?
â The Facility provides for an initial drawdown (the "Initial Advance") of GBP1m which is immediately available to the Company on signing of the Facility. Funds advanced under the Facility will attract a fixed coupon interest rate of 3.5% and will be repayable with accrued interest, 4 months from the date of drawdown.â
So when was the drawdown date? From the EOY it looked like they had used this 1m facility, but what isnât clear is when, or more to the point, when the repayment is due.
And of course the deferred directors wages etc.
â oh dear you really cant help yourself - all this can't be good for your health â
Erm what? Care to explain this comment?
Conveniently 4,921,304 were sold earlier at a smidge over .12 wonder how many other outstanding settlements are to come.
I wonder what price they will get for 14,025,314 shares.
Yes, potential for flushing even more money down the toilet, quite literally.
â Why isnât this rising loads on relisting ? â
Perhaps they owe quite a lot of money, donât have any revenues, and have no way of raising capital via a placing or share issue?
This relist may be short lived.
whoâs pumping?
Letâs not overlook thereâs about 2 million of accrued debt now to be settled and how do you think they will do that?
They canât do another placing due to recent shareholder action so thatâs not an option it seem.
Relisted but listing already, bilge pumps on standby.
Well you would certainly know.
Sticks and stones Laguna, or perhaps something about throwing bricks in glass houses.
At least I still have my shirt, unlike some.
Canât wait to read about your next âstrong buyâ aka 100% write off.
Thereâs always NEXT time, JOULE never know.
PMSL.
You donât have to do anything wimbo, itâs all personal choice, if you donât want to read my posts then scroll on. No need for you to even pass comment really is there.
Not long to go now until game over.
Do not pass go.
Do not collect $200.
Looks like the rats are leaving the sinking ship.
Wel those that havenât already.
Well no update, care to explain why this is going to fly âifâ it ever returns to market?