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Is there anybody else wondering whether the necessary EGM to approve the proposed JV will be tied in together with the AGM on the 23rd December? If that was to be the case, an announcement would have to be made before next Wednesday in order to give the necessary notice for the EGM to be held at the same time. Which means that the deal would have to be signed by that time too. This is maybe just wishful thinking though...!
Everyone has a chance to not re-elect LC to the Board in the upcoming AGM. Contact the people who hold your shares or respond to the documents sent to you (if you own the certificates) and vote against resolution 3 specifically which will vote not to re-elect LC to the Board or resolutions 3, 4 and 5 if you want to 'remove' some of the other directors too.
Yes, fair enough!
From perhaps a more positive point of view: the Dalradian project is in Northern Ireland and therefore, subject to a variant of UK planning legislation. Clontibret is in the Republic of Ireland and therefore, subject to Irish planning law.
There's no doubt that if the company finally applies for planning following successful completion of exploration and a demonstration of project feasibility, there will be environmental protests and objections from people who either live very close to any proposed development or people otherwise inclined to protest against mining. This is their right.
I would point out that Ireland has a history of the successful development and operation of large scale mines (e.g. the lead - zinc mines) and indeed, Prof Conroy has been involved in that history. There is also an amount of perception and misperception involved with such projects. However, Conroy is an Irish company exploring and developing in Ireland which surely would count in its favour? Whilst I have previously been critical of the slow rate of progress until now, I do have some understanding of the 'softly-softly' approach that has been taken in getting the project to where it is at the moment. A little bit too long perhaps but still 'softly-softly'!
In the case of Dalradian, from the Facebook pages in the link Mole_Man provided, I would be concerned that some of the protestors are comparing Dalradian's project to the Pebble project in Alaska! The Pebble project is likely to be an order of magnitude bigger. There also appears to be a level of interference in operations by the protestors too which any company could do without.
Fingers crossed the AAZ deal will be signed very soon, an EGM called for the shareholder vote, the vote sails through and then followed by the hopeful further uptick in the share price we are all hoping for!
Perhaps impatience or boredom?!
The company that is 'kind' enough to hold on to my shares in this canine quadruped of a company has been instructed to vote against resolutions 3, 4 and 5 at the forthcoming AGM. "Stick it to the Man!"
I was really hoping that with it being the end of the week and yesterday's announcement regarding the AAZ exercise of warrants, that today would be the day! I guess we'll probably have to wait another week ....
I think I will be opting NOT to elect the three directors back to the board - even if it ends up being a protest vote. If enough PIs do the same then they might get the message about how most of us are prety fed up about being strung along by all the missed deadlines and lack of progress.
https://www.londonstockexchange.com/news-article/CGNR/exercise-of-warrants/14761328
https://www.londonstockexchange.com/news-article/CGNR/exercise-of-warrants/14760562
I would have thought that the fighting between Azerbaijan and Armenia which hasn't yet caused any reported problems for AAZ would, nevertheless, prove to be an impetus and incentive to them to get the Conroy deal signed and start work (covid-19 permitting) in Ireland. Although, a mine at Clontibret wouldn't likely come into fruition for another couple of years or so, it would certainly provide a backup asset if the situation in Azerbaijan gets more difficult.
a KIBO RNS without the now obligatory typographic error and the correction a day later! One would have thought that the amounts the Nomads get paid, they could at least check everything thoroughly before sending them out!
Is that the plan so cunning, you could stick a tail on it and call it a weasel?!
Why not today?!
It's not very clear as to whether the shares converted to cash is actually contributing to the growth / development of the company's assets or being used to pay wages or anything else?!
There's no indication that there is any real value being added or the company making progress as a result of this facility.
Maybe it will just pay for more and more reports to be produced and more and more discussions to be had?!
If only these reports and discussions would actually lead to something concrete then the share conversions might seem justified!
Sadly, the upward share momentum has retracted over the last couple of weeks whilst we wait for the outcome of the AAZ due diligence and the potential signing of the full agreement for the JV.
Hopefully the next RNS will be the one that informs us of the EGM for shareholders to vote for the agreement which will pave the way to AAZ's investment and work commencing. IMHO, that can't be too far off now.
The additional charges are incurred when buying as the company, although listed on AIM, is registered in Ireland and not the UK. The 'tax' is 1% of the value of the stock being purchased. As far as I am aware, it's only applied when buying. You can obviously offset this charge as a cost against any capital gains tax when you sell the shares. Hope that helps.
Bcl I've been thinking roughly the same thing. Wondering what the additional shares are for apart from the warrants and other debts owed. I've been wondering whether there is a new investment by Kibo for which they intend to pay in shares perhaps? Pure speculation, of course. I guess if that was the case, the BoD couldn't announce anything until it happens so we will just have to grin and bare things until the EGM and beyond!?
This is good news but what has not been said is what Kibo's relative holding in MED will be following MED's admission to the LSE. It won't be 73.89%! Anyway, the SP has had a nice little bounce which always is a good sign. Let's hope there's a continued trickle of good news leading up to the EGM...
Give LC / the BoD their authorisation to expand the share capital up to as much as 5 billion shares.
Then, gather a group of disgruntled shareholders together whose total share holding is over 10%. Then call another EGM with the resolutions to vote all of the directors from the board. In the meantime, find a small group of people with experience in running similar companies, seek their approval and then propose them to run the company!
Having a group of shareholders with more than 10% ownership in the company call an EGM would put the wind up the BoD. It was done with the likes of CGNR and although unsuccessful, this kind of action made a point.
The other slight comparison with regards to a company's capital being made up by a large amounts of shares is perhaps GGP. Their share price about 3 - years ago was as low as 0.0015p but they were finally 'lucky' enough to get a good project(s) and joint venture up and running. They have c. 3.7 billion shares in issue and their s.p. has been up at almost 15p recently (down at 13.5p today). Good things can happen. However, I think in respect of Kibo, it may take a shake up of the BoD to achieve it.