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Kelotoni - probably because they said on the 24th January, not quite 2 months ago (and have no updates yet):
"...we have commenced administrative proceedings in respect of our long-standing proximal Exploration Licenses ("ELs") surrounding the Tulu Kapi Project Mining Licence area, in order to continue exploration programmes and community development which have always complemented the Tulu Kapi project. During an overhaul of the title-regulatory system in 2022, these ELs were over-pegged by a Hong Kong shell company owned by a British Virgin Islands shell company. We are confident that this situation can be resolved satisfactorily."
SB - frustrating way things have happened.
It’s needed cash, before finance. That much should not have been a surprise. And maintaining “positivity” has, I would suppose, been important for that. Hence an attempt to keep the wheels from falling off…. I think this has been overlooked in amongst the delays.
Earlier than when the war started, there were mistakes made imo. And for it to take so long has been poor. But then, that’s driven the price down and allowed others in - so we’re all going to have different perspectives on that.
Smart move averaging down.
Now we agree that the next bit SHOULD be the reward part, I don’t see why there should be such negativity, (if we ASSUME this share doesn’t make an ASS out of U and Me).
A little objectivity is all - admittedly will be much easier POST finance.
p.s. I have no idea why DV keeps repeating there were meetings last month… this was never the case… I believe we could be a little further off yet - but not too far!
I think some of you might be over-estimating how good the salary Harry is receiving, versus the value of his (and our) shares with working mines, nor how important it is to more junior board members and senior team members that their shares realise some of the potential value here.
Harry is a family man - and his legacy will be important to him.
Last year, the project was re-started following a 2 year civil war, conditions for finance were (slowly) satisfied and now we're looking at finance (despite almost double the shares, and less of a share in Saudi than there might have been - but far less than if the SP was allowed to languish prior to placings, or the proverbial towel had been thrown in...).
When this launches (which isn’t certain, but looks likely), I wonder what the new “it’ll never happen” brigade will use to entertain and succour themselves…
9 years SB! - so c. 5p+.
No wonder people buying today have a more optimistic outlook!
DV likes making up dates… perhaps it makes him feel important…
Nobody knows…
An “educated guess” would suggest there might be a little longer to wait, and that this is not unreasonable given sums involved and number of parties.
It would be lovely to think we will have positive news this week, but there’s no evidence to suggest that.
We do have a general meeting next week, so there should be news then….
Give it time... use critical thinking... just because a room goes silent, it doesn't mean you start shouting the first thing that comes into your head...
Anyone else noticed that there are now 2 applications posted on the mining ministry website? And that the exploration licenses for the areas around TK expire in March 2025? So would be available then regardless?
SB - guess we’ll see…
Factually yes initial s/h have been wiped out. Thats the risk.
Rest is opinion - even you concede that “maybe” this is about to take off.
Guess that’s why you’re still here….?
DV - understandable given wording, but I think you’ve misinterpreted that. It just says they’re going to KO the process, which may not happen in that month. They work to their own timetables so KEFI couldn’t specify when that would happen with certainty.
Where does it say that there were meetings scheduled for the end of Feb.
Pretty sure you can’t answer this question.
But you keep asking about it 🤷🏻♂️.
Lenders and investors went to their respective boards “this month” in Feb - which doesn’t mean “signed off on Feb”.
Unless you have some information nobody else does?
Yours posts seem overly negative, Ben.
There were debts to be paid. Fees to be funded and ongoing costs to cover.
Interim borrowing was sought but not secured, so we had a placing.
Assuming there is a process, which is concluding, and will lead to funding for mine construction, this isn’t the end of the world.
DV - yes - but one of us appears surprised by this…
Just need to look at the assets project plan and realistic valuations to realise that 100% dilution from here would still be highly profitable.
Nobody wants dilution, but that just the facts of life.
Also not counting my chickens here.
It happens when it happens.
I speculate it will happen and it will do v nicely.
Others free to differ. Wish you well.
DV.
The RNS stated:
“Gone to their respective boards” not "arranged meetings immediately", nor "agreed to sign off on by". the process was started.
You've repeatedly peddled this misinterpretation of the process, suggesting that all boards would sign off last month.
Why?