Member Info for Poppyseed

Each to their own but nothing to do with **** up in my opinion. For me, they never did intend to become miners, except perhaps through an indirect retained holding as part of a sale to a bigger player. For me, the game has been to add value to the prospect via a 3-pronged strategy. First was to prove up the quality to prospective off-takers via a small mining operation. Succeeded. Second was to obtain the water permit that any major operation would need for a viable large scale mine. Succeeded. In turn, this justified the third, most time consuming and most expensive part of the plan - without succeeding with parts 1 and 2, what would be the point of turning all efforts to establishing mine value to JORC standard? Ongoing.

The JORC piece of the jigsaw has obvious benefits on both sides of the equation. One, that a completed JORC enables KZG to seek the best possible price for the asset from buyers who have already assessed the quality and know they have access to a vital and plentiful water supply. Two, and crucially, what buyer could or would be prepared and able to finance both the purchase and the production plan of an asset, without having the assurance of the scale and viability of resource via licences and JORC as an essential part of due diligence?

I think maybe we have too often incorrectly thought of KZG as a prospective junior miner, perhaps in JV. Personally, I think this misunderstands the Company mission which clearly states "Kazera Global is an investment company focused on opportunities principally, but not exclusively in the resources and energy sectors." Note well, an investment company! Typically, they buy undervalued assets, add value and then sell. Right now, such a strategy looks to be ongoing and on track. So, SP apart, it's really hard for me to see where the broken dream or deceit or **** up is here.

Seems to me they've just been getting on with the job on as limited a budget as possible and issuing as few extra shares as possible despite the current situation, scratching their way through to full JORC and then hang the For Sale sign. For me, **** up and deceit would have looked more like a massive and unnecessary dilution to mates down here. I see no sign of that, merely survival and I'm very grateful for that! The result is that even now, we have just a few hundred million shares in issue, not billions like some others and, as a result, are valued at little more than £2m even after the new share issue.

As ever, up to all of us to decide whether that represents value set against the current exploration situation and forward prospects. Opportunity knocks? GLA DYOR

At least the last 250k buy appears to have strengthened the market a little to .062p to buy. JORC completion and sale now looks to be the way ahead then onto something else? Given the words for the purpose of the funding, maybe they already have a sniff of being able to pick something up in advance.

Signaalberg before White City.

Yep, skim read through both of them. Great to see the detailed report letters rather a summary of them. It's clear that both Homestead and Purple Haze are significant, viable low cost resources and I think the main message of producing the letters is to demonstrate the validity of the JORC beyond any doubt.

As I suggested earlier, if this were to be immediately backed up by Director buying (I live in hope!), we would have been given reassurance in actions what words alone could not provide.

Looks like it! Even more so if those 500k buys after the detailed info is published into the public arena turn to be Director buys. Encouraging...

I agree tarquinpike, similar to buying a plot of land and adding the value by getting planning permission before selling it on.

Aye, tarquinpike, I take your point and that's fair enough in cases where it's true. However, what can they say if it isn't true i.e. that they DO know the reason but it's out of their control?

What I'm getting at is if the cause isn't a known corporate reason (which should by now have led to an announcement under AIM rules, if there was such a reason). In such circumstances, we would have to assume that the Company would have been passing bricks with the rest of us. So, say, they then contact their brokers and learn of big selling (in KZG terms) and the consequent/linked effects of this are the cause and, even worse, that there's still more to come? Obviously, this is all conjecture but just supposing it's near the mark, what do they say then? I have no recollection of an announcement for a circumstance of a share trading issue outside of the Company's control any more than we would expect a company announcement when a stock is being driven up merely by high demand and a shortage of supply.

Rightly or wrongly, the passage of time without an announcement has led me to thinking it's a case of sudden market over-supply which can then snowball into a glut, mainly through triggered stop losses and understandable fear.

A placing announcement now, after the silence, would be naughty and broadly outside of the relevant AIM rules I posted earlier but I can't say it would be a total shock to me either. However, in buying now based mainly on other factors as outlined, my reasoning is that even if there is a placing - and it's by no means certain that they're in immediate need of one - there's a more than fair chance that a "relief bounce" from these very low levels would ensue, given what it would mean not only to be demonstrably covered for their short term and perhaps longer term needs but especially to dispel any other more sinister, doom-laden theories and fears.

Only time will tell whether I'm astute or stupid for buying these last few days but that's the game. Just sharing some thoughts for what they're worth, obviously no advice intended.

GLA

I know I'm going to be at odds with so many commentators here and I'm not without dirty underwear myself over the past couple of weeks when it looked like an announcement might be coming. However, for me, the longer this goes on WITHOUT a clarifying announcement, the more likely it is that nothing of consequence is wrong. Whatever we think of AIM and its masters, their rules are plain and AIM, the Company and the nomad would have a duty to have made a statement by now (see Rule 10 et seq) "An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities. By way of example, this may include matters concerning a change in:

— its financial condition;
— its sphere of activity;
— the performance of its business; or
— its expectation of its performance."

Call me naive but, for me, every passing day suggests very strongly that none of the above are therefore the case and what we have most likely seen is a dire combination of one or more forced seller(s); coupled with profit takers after the RNS; automatically triggered stop losses; and panic selling from those understandably fearing the worst.

I confess to the feeling the "fear factor" in those first few days but, unlike many, I am actually heartened by the absence of an announcement, not dismayed, and have been buying strongly now for a few days as a result. The silence should mean that nothing has changed and LJ and the Company are keeping calm and carrying on. In their defence, I'm not sure I know of any company that makes announcements about weakness caused by share trades alone so, if that's all it is, I'm not sure what the Company could be expected to announce beyond issuing a change in major shareholding, if it applies, and as and when the Company is formally notified.

I think (hope!) the main problem here has been the stock's illiquidity leading to SP falls that are out of kilter with the actual level of selling. On the positive side, the same situation exists in reverse as and when bottom fishers and bargain hunters are satisfied the turn has arrived - and, happily, there are hints of that over the last couple of days. So let the lumpy rising begin lol!

I agree, worth a punt at these levels. I'm in for 170k.

The bit that's missing relates to Vox Markets! Hopefully this won't be deleted.

Could this major conference have been the source for chatter? Notably, see the agenda for 6 Feb, 0900-1700 Nigeria Day. Just coincidence that the first 500k trade was the same day?

https://www.miningindaba.com/ehome/283869/agenda-2019/#

Also noted bullish tones in a podcast concerning the mood at this conference. Ignoring the first bit, the mood music starts a round 15 mins in:

**************************************/articles/marcus-edwards-jones-of-phoenix-global-mining-and-john-mayor-in-south-africa-a5c2557/

I presume not related to a dilutive event so no dilution. Instead I see it as the need to issue a formal, paper certificate following completion of the BVI move, given that many (if not most) holders would have previously held in nominee accounts when the Company was London-listed and were left with nothing physical to show for it despite Eridge continuing to be an (unlisted) going concern with fair asset value on cancellation from AIM and presumably still is.

Scale of that sell is hard to fathom, especially if the large "worked sells" through the day are added in too. Perhaps we are talking GAEA taking their leave. Not many others left who could muster that sort of scale except the new January entrants and I rate that as so unlikely that I personally discount it completely, especially in the light of the late RNS which sees the new entrants (incl related parties) actually increasing their stake by 1.65% or 29.5m shares. Moreover the related transaction is said to have taken place on Friday when the mid-price was c. 22% higher. Hardly a vote of no confidence and, for me, their buying at this time is a fact strongly underpinning that we're seeing something temporary here connected to a large seller rather than anything corporate. For me, not a suggestion of new in-the-know people being aware of a coming placing either. Overall, I'd say do your own research and follow the facts, not the fear and there might be some quick money to be made here. Getting back to GAEA, their investment led to a bit of hope at the time but I now think we were possibly duped and it could well have been merely a device to suck up a pressured sell from Beaufort Nominees that was overhanging the market at the time. I say possibly duped because questions have since been raised in some quarters about GAEA, that ownership is very blurred and even suggesting connections to Panama papers and NL himself. Not sure about any of that but simply on the basis that their presence did nothing but add another paycheck to the useless boardroom, any departure by them now can easily be seen as a huge positive even if temporarily dire as far as the SP goes. If my theory turns out to be correct, I would see then this as one more example, possibly the final example of continued cleaning up by the new investors, final except perhaps for the head of NL himself! Who knows, if that Panama papers stuff has any merit, then maybe GAEA had to go before the new guys had a clear path to removing NL. We live in hope but I was certainly backing my hunches by filling more boots today.

Hopefully more about a lump of stock weighing heavily on the market rather than anything corporate. If so, it should rebound to former levels relatively quickly. Mustn't forget that Hartford Corporate/Melissa Sturgess still had 52,875,000 after going under the radar to 2.96% following the failed attempt to remove NL as Chairman. Would seem to just about fit with the type of volume we've seen today and explain the obvious stock overhang. No need for them to report it either since going to the strategic 2.96% before maybe waiting for the new tax year to do the rest. Of course, other theories have just as much merit whilesoever we are kept in the dark but cannot find anything rational in why it should continue lower given the NAV which must still be around .20p after the last dilution, much of it still in cash from that dilution as far as we know. That said, that man NL just has to go! Hopefully the new masters will seize this debacle as the final straw! The particular support of Miton Group at .11p is a good reason to hold nerves and I believe that even if further support were needed (plenty cash so not evident why that would be except for a very large acquisition), then it would be forthcoming as part of the Miton strategy for investing in the first place. Worth noting that any such fund raising could not be lower than the nominal price of PRS shares i.e. .10p, making most buys today decent value even in those (not very likely IMHO) circumstances.

There's no defending NL's history here and I find it surprising that he has so far survived the New Year's events which, for me, brought strong signals of a wake up call. In particular, Miton's 400k investment in a company with nothing obviously going for it, hinted at a new plan for the future direction of this company. We saw some early action to reduce Company overheads by way of building the sense of change but something more substantive is so far elusive though, of course, a good deal or deals could be expected to take a little time to put together. I continue to feel that Miton fund manager did not invest habit in order to share our historic mix of boredom and pain. In which case perhaps it's worth following his monthly commentary in search of insight into his fund's strategies and aims. This extract is from 28 Feb, the first full month following his PRS investment: "...Generally, the trust�s positioning has been moving towards holdings where immediate cashflow was more certain. In spite of the unsettled markets we continue to identify a number of new opportunities where companies are putting capital to work with the prospect of generating relatively quick paybacks..."

Not to PRS but to Eridge Capital in which PRS has a considerable holding and NL is on the Board.

http://riverfortcapital.net/jameslewis/

On closer inspection though, it looks to be a straight deal between two James Lewis related entities in that Riverfort has bought Shard Capital (Gibraltar)'s bit of the Shard/Shard(Gib)/Lewis holdings previously reported on 22 Jan.

Augers well!

On the surface, not a great year for NL. Challenged for his PRS chairmanship; heavy PRS pay cut as undoubtedly ordered by his new masters, Miton; all PRS options cancelled; "Resigned" his PLMO non-exec "to spend more time on his other business interests" so yet another pay cut; and now, yet another one after, "parting ways" with London Capital Group: https://www.financemagnates.com/executives/moves/nicholas-lee-former-ceo-frank-chapman-part-ways-lcg/ Anyone else sense there's a bit of a squeeze on dear old Nick these days? Can only be a good thing! Oh, the times, they are a-changing...