Member Info for SAGACITYRULES

Buck, missed it, unfortunately. Did he have anything interesting/relevant to say?

The announcement was a bit short on detail, turnover, gross/net profit, years of trading , management and staff numbers. Not even a balance sheet. Have I missed something?

Interesting set of 3 TRI's. Anybody know why?

The documentary "WCP B Move" is well worth a view. Good PR work by KMR.

Ken - Am I missing something here? When the tender procedure is complete, KMR will have purchased and paid for the shares that have been tendered and spent £61.8M. If those shares are cancelled, the value per share will increase, but only if the shares purchased by the Company are cancelled. Would that not deliver value to the shareholders without exposing said shareholders to any tax liability that would arise if one went down the special dividend route?

Rax - So is 420ish, given that the sp was above 450 last month.

Millsy - thank you for your link. The article confirms my thinking which again makes the spiral in the share price all the more inexplicable. Thanks again and well worth the read.

Does anybody have a line on why the share price is falling?

Does anybody have a clue as to the downward spiral in the SP?

Michu, You are quite correct in your summation. However, there was one statistic for which an explanation was not advanced in the Report. Excavated ore in Q3 was 8% less than in Q2. I am seeking an explanation from KMR and will post it here should I receive it. As for the share price, I hold the view which has been mentioned here previously that until KMR uplift the dividend rate and/or commence a buy back scheme, their will be a resistance in the market price. Once either or both of these events occur, we will see the bounce in sp. As ever in KMR, it is a matter of patience.

Ken, spot on observation. Is my memory playing tricks, but did the Board not speculate or undertake to establish a buy back strategy?

BF, how good to hear from you and to know you continue to watch the board. I am not taking issue with you, but I do not think that any soldier in the world is paid enough to take the risk to their own life and limb. You are quite correct in suggesting that the report of them having "fled" may be less than totally accurate and they may well have melted away. The al-Shabab, if that is who they are, are well accustomed to living among the community. I also believe that the original group came to Moz from the north. Pemba itself has always been a "pirate" stronghold over decades, if not centuries. I doubt that they will have travelled south as this would be in the opposite direction to where they, as a fundamentalist group, have a stronger presence in TZ , Kenya and beyond. I fully accept that they are a rag tag bunch of opportunists and thugs who happen to subscribe to Islam rather than being cultural religious fundamentalists.

It is reported that the Mozambican defence forces, assisted by the Rwandan Army contingent, have recaptured the strategic town of Mocimboa da Praia in Cabo Del Gardo. Mocimboa was the HQ of the Islamist rebels. It appears that the rebels have fled the area. Moma is situated a distance of hundreds of miles south of this area. But if one was concerned by the proximity, the eviction of the rebels should bring some stability to the area and allow the displaced residents to return to their homes. All encouraging news for KMR.

Onwardsandup - Your original post referred to "heavy buying". It is that comment I am seeking clarity upon. Just how many shares did each purchase and confirm that the shares purchased were not connected to share options or anything similar would be really informative?

On - Not a fire bucket, but if you are going to criticise others, you must expect to have your feet put to the fire. You say that Del was factually incorrect in stating that the Board have not been involved in "heavy buying" of the stock. This must therefore be interpreted to suggest that you are aware that "the Board" as a whole and to a man/woman have been "heavy buying" stock. Given that, if true, there would have had to be announcements and declarations to confirm such transaction, perhaps you would list the purchasers and the heavy amount of stock they each purchased, as your suggestion and the failure to report is a very important matter. If, on the other hand, you do not have the evidence to support your statement, apologise to Delano and the rest of us for your misleading statement.

Retirement is a grossly over-rated pastime. In over 50 years of professional life mostly in practice, my clients who retired tended to shuffle off the old mortal coil shortly after their retirement, whereas those who continued to work are generally still around!

Just an observation, capital expenditure shifts value from one pocket (cash) to another (plant & machinery). The expenditure itself does not affect profitability.

Con - Your perception of the gain for the Moz Government is quite right. I am not sure who have "training missions" in Moz currently nor Tanzania except to say in my experience in East Africa, they will be there. I would not be surprised to discover that the Brits are there as well as the French. I don't understand why the issue has been left unresolved since 2017. However, the announcement of the multi billion investment have encouraged the recent flare up and show of strength in Palma, I have no doubt. But with the threat to Total, the problem is likely to be resolved this time around. As I have previously pointed out, Palma is a long way north of Moma and until Pemba becomes threatened, I shall not worry. The association of this gang with ISIS is extremely misleading but it also sells news print!

PGee - You encourage me to "stick to the facts"., and then paraphrase a report from a newspaper, implying that it is a factual account. Please note that your quote actually states that "The attack bore all the hallmarks". It did not say that the attack was carried out by "Islamist insurgents that have terrorised Mozambique's far northern Cabo Delgado region", but did refer to "Gunmen". This is why I queried the earlier reference to ISIS. These "Gunmen" probably happen to be Muslim, but there has not been any evidence that they are Islamic extremists such as ISIS. Even Al Shabab, who are a more northern group (Kenya/Somalia), have disowned them even though they have claimed to be some form of affiliate group. This is not a recognised religious or fundamentalist group. This is a bunch of pirates and gangsters who require to be dealt with by the authorities in Tanzania and Moz. Palma is a significant distance from Moma. These are all facts, not some journalists opinion. Look again PGee and follow your own advice. This should mark the end to this conversation as far as I am concerned.

PGee - Total had pulled their staff out and shut their plant in December, I believe. They only went back in March to restart the plant and the insurgents returned to "rough the place up" following an announcement of a very high value investment in the province. True to form, the bandits had to show their presence in their customary manner. It is wrong to suggest that the affair is "hotting up". This violence has always been a fact of life on the East African coast, from Somalia down to Moz, for centuries. Piracy, smuggling, kidnapping and slaughter has been a cottage industry in this part of EA for generations. This is hundreds of miles north of Moma. This lawlessness is not a consideration in my book.