Member Info for SirGBoycott

Proof will be in the pudding he’s been confident of closing many things before the deadline in the past. He’s also unlikely to say anything different. I remain skeptical but wait to be pleasantly surprised.

‘ Haneti drill results sometime in the next month or 2.’ ????

They haven’t announced a drill start date yet? I’ve listened to the interview and didn’t pick up anything on drill results.

Happy on the general timelines for blyvoor can still be met but I don’t think he specifically said the finance still on track for end sept. There again he’s hardly likely to say it isn’t.

Good to hear from briggs. Covid clearly affects site work and I suspect ability to drill but shouldn’t hold up financing.

Shrewd move getting Briggs in on the interview. Was received as very positive news when first announced and good to see he's still on the scene. The tone of the last RNS update suggested this would be done by the end of Sept after a few delays. One would hope, given his past form, he allowed plenty of time this time round and we could see this concluded earlier.

I wish I had in KAT what I have in KIBO! Nicely in profit over there and holding for blyvoor and haneti news. Hopefully that alone will pull kibo up towards my average and we can move on here with Anyone of Moz bots mcpp and mast

You mean illegally manipulate the market!

Still in EDL aerial? Looks like KIBO ... keeps threatening to turn a corner and then stumbles a little.

I understand the point but would rather have 75% or 100%. How is it that KIBO and KAT have such low market caps in the first place that mean they have to offload such fantastic assets for such low values. When that deal was concluded there was absolutely no guarantee POW would have any more luck in raising the their share of the development costs either.

KAT has been threatening to drill Haneti for over a year and even though we have raised the cash to do so (or 65% of it) there still isn't a date for drilling to start. That's before we even get to the point of needing a mining licence in Tanzania which if Magafooli is still in power will be next to zero. They need to get this drill done and sell Haneti get a JV with a partner that has the ear of the Tanz govt and focus on Blyvoor. Imweru was also a poor deal esp looking at gold prices now but suspect KAT would have had great difficulty progressing that in Tamzania as a foreign company.

You can hold shares in a company and be disappointed with performance and progress and call out what you see as issues. I'm in at 0.8p and happy to hold for Blyvoor. I have a lot more at stake in KIBO which has been a series of car crashes (not all LCs fault IMO) for several years but like kiwi and Arial see the value but have real concerns that LC (based on past performance) wont pull the one deal out the hat that will make these fly.

Crikey its hard work asking a question without having someone jump down your throat.

Why I only asked a question?
30p takeout? 2 weeks delay? Why and on what basis?
The additional 10% for £25 for Haneti is without qeustion an absolute steal for POW and hardly a great deal for KAT - you can dress it up all you like and not only that they have let POW postpone a commitment on this for months and could have avoided loosing an addtional 10% of the upside. Haneti could be huge and due to circumstances we have had to offload a third for next to nothing.

Past performance here and at KIBO tells you a further extension is likely but on July 21st they were confident that the "JV partners have agreed a strategy and associated deadlines for securing Project financing. Katoro will look to complete the Project Financing on or before 30 September 2020" having been confident in May and June it could be done in a month. They really is no excuse for further delay and with such a level of interest you would have thought they were in the driving seat. It wont be viewed favourably so lets hope they stick to the timelines.

It was extend due to Covid in April to end of May. It was extended in May due to increased interest and then again in July until the end of September.

Just interested to know from someone who is clearly more upto date why you think it wont be end of September but within 2 week of that date.

"Dont expect an offer before 30 sept .as we have 14 potential partners to make a bid .however not much later than second week in october .with market cap so small I wouldnt be surprised if a major just bought out the company"

On what basis? Its been extended already because of the increased interest. The deadline for accepting an offer of finance has been firmly stated by end of Sept following several missed deadlines. I expect this to be concluded by end of Sept otherwise further credibility will be lost.

cunningfox - lol. cunning? seriously?
10% is worth £25k but that's towards costs; not the value of what could be !! the value of "what could be" is then split 65% / 35% Katoro and PoW respectively.

Thats the point isn't it ... £25k for 10% of Haneti which is supposed to be a huge potential value asset. Whilst we now only have to find 65% of the future development costs and hope POW can find 35% we now only get 65% of any upside. For arguments sake lest say it costs £1m to drill and the results are good and its worth say £10m. We will have given away £1m upside to save £100k costs for £25k upfront. Overall we will have given away £3.5m upside to save £350k costs for £125k upfront (from memory). OK so if we dont have the full amount of cash to develop Haneti or want to de-risk it slightly then fair enough. At the time the deal was done it was pre-Blyvoor so probably a necessity then but what that 35% was sold for is peanuts compared to the otential value KIBO / LC / KAT have claimed.

KIBOs been tweeting about its MCPP project for years and its no closer ...... but I agree there would appear to be nothing to prevent an agreement being reached.

28th May "Katoro and POW have therefore agreed to continue to monitor the development of any potential commercial transaction(s), before any final agreement is agreed upon and to in lieu of this, extend POW's option to increase its holding in the Project to 31 August 2020"

June 25th equity raise - "In recent months, Katoro has received mid and tier 1 approaches with a view to earn-in, joint venture or similar, in respect of the Haneti Project, with a primary focus on the nickel sulphide potential. Whilst these discussions are ongoing, the Company will continue to enhance the intrinsic value of the project through further exploration work. In this regard the Company intends to finalize and execute an exploration drill program over the existing drill ready targets at Haneti"

27th July - "Preparations are currently underway for the launch of the drill programme and we look forward to announcing mobilisation" "Power Metal also holds an option to increase its interest in the Project from 25% to 35% through a payment to Katoro Gold of £25,000 by 31 August 2020"

What are the odds on the end of August deadline given to POW being extended given it was only reconfirmed 3 weeks ago? What prospects of the drill programme mobilisation being announced before the end of August? Is there any suggestion that the same interested parties at Blyvoor are interested in Haneti?

I never said it was likely, but the potential mine at Lahtojoki has nothing to do with any green diamond discovery. Its the claim of pink diamonds at Lahtojoki that is more interesting / controversial. Any PEA is based on sampling ad there has been plenty of sampling in that region for decades. Quite happy to have a go at the BoD / company but at least for the right reason.

With respect Ade thats complete nonsense.

There are many reasons they may not develop a mine but the geology of Finland and the fact there isn't a commercial mine outside Europe are not amongst them.

The green diamond was found in a different area to Lahtojoki where they are close to obtaining a mining permit (at last) and have a promising PEA that states that analysis of combined microdiamond and mini-bulk sample data suggests a +1mm recoverable grade of 39.7 Carats Per Hundred Tonnes (cpht) and indicates the presence of high quality stones within the diamonds that have been recovered to date.

The Karelian Craton doesnt abide by state boundaries. Finland is a mineral rich country that has yet to be fully exploited.

The fact its taken 3-4 years to get to this point since acquiring the Lahtojoki concession after several years wandering round Finland with a spade and bucket sampling various claim reservations plus a past record of dilution / consolidation doesn't inspire much confidence that a mine will ever get off the ground. Resulting in two EGMs. But the same happened at CGNR and there seems to be some progress there at last.

Id echo jdt1990 comments. You wont find many LTH that have too many kind words to say about how the company has been run. Hence two EGMs and one at CGNR. Mainly about time and transparency - you wont get / find much detail on timelines / plans / costs etc just an objective " to make substantial returns for shareholders through the discovery and development of economic diamond deposits in the Finnish sector of the Karelian Craton". I'm not a geologist / mining expert but have enough of a grasp of the basics to understand why Finland could be massive which makes the slow and opaque approach extremely frustrating and vexatious (you'll have to read the letters to shareholders to understand that one). Conroy and his team are very traditional and methodical in their approach and it is no surpirse therefore that many shareholders have become totally disillusioned and feel the company is run by an old man living off past glories, passing board roles to his family to perpetuate a lifestyle. He has constantly funded the company primarily it would seem to maintain a 30% holding and control. Its certainly a share for the long term investor with an appetite to average down at every dilution and consolidation and trade a few of the spikes.

That said I am learning fast there are many other miners in similar doldrums that appear to be severely undervalued. Question is how is any further work towards establishing a mine going to be funded. Answers on a postcard.

Still here Irish.... waiting to be proved wrong. Must need a big spade to need a vehicle to carry it.

Would be nice to know what’s involved in getting a mining permit ... I see there is still another hurdle not withstanding how we pay for further exploration.

Agree foxy. Can’t see the numbers for current egm being Voted down and if the sp keeps going up sentiment may change but it’s got a way to go.

Good question. I’m not sure, the voices sometimes get a little confusing. Only yesterday I heard the cybermen were marching on parliament to demand equal rights for robots but I couldn’t find anything on the news