Member Info for SirGBoycott

they had one 5 weeks ago and with a few million warrants outstanding I would have thought that unlikely

Surely he must have evidenced something to you in the past or you wouldn’t be here?

You can still be competent and fail! Most aim companies do. That’s the nature of new ventures.

A different result in the 2015 election and who knows?

MED could be up and running by now without Corvid-19 (And kats gold financing)

Had greta taken up the cause of the homeless instead of climate change would coal be more popular?

How are nccl faring? Racing ahead?

I don’t want to pick an argument, too much if that with what constitutes acceptable social distancing, just some thoughts.

SYM Magufuli was elected in 2015. Kibo and LC have been in tanz many years prior. You can either work with the elected govt or not. In 2015 we were tanz focused only. In 2020 we have opportunities in 4 countries, 5 if you include Kat and South Africa. I’m not saying every is perfect but if we’d stuck to our one country strategy would we have been any better off?

If he published what he thought was the true figure then that too would likely be incorrect and you'd be saying where is the RNS. Can only publish what's in the public domain.

Well maybe i live in a different universe but I think he will actually get KAT JV done by end of May . Delay in this case due to covid is justifiable .... others less so. Get the JV KAT will fly and have a knock on effect for kibo. MED is key here now. Other projects are secondary.

The formation of the JV was targeted for the end of April and its not definite. There is the option to extend if everything is not in place and given that was announced in January that has to be a possibility. There is no doubt if they secure the initial project funding this will fly. Hope so because I've been waiting long enough here and in KIBO but there is no guarantee in the RNS for January that this will land today / tomorrow.

"In accordance with the terms of the Agreement, the Initial Project Funding, together with all necessary regulatory and government approvals that may be required in order to form the JV, must be in place by 30 April 2020. In the event that these conditions are not satisfied by 30 April 2020 and the JV Partners do not agree to extend the date, the Agreement shall fall away, the JV will not be established and the Katoro Loan Facility will become repayable immediately with accrued interest to Katoro by Blyvoor."

Yawn

Give it a break ffs .. even your charts didn't predict Corvid-19 ...you also said £1.86
I trust the Chinese govt's coronavirus figures more
Finished pumping KAT whilst you were selling out there no doubt as well ... what were you predicting there again?
I've had a lovely morning at Asda seeing how people can really get on in adversity and look after each other ... you should try it!

Yes I would certainly consider it, whether I have the cash to back it up is another matter.

Agree arial.

We seem to have several horses in the race with varying odds and only need one to place to get the ball rolling. Problem is we only have one jockey it seems and as one horse pulls ahead the others drop back.

It’s good to have several fingers in the pie but one would rather hope that one would have pulled out a juicy plum by now.

Lets all hope is some cunning plan ........

what is clear, is that its not clear ...... and despite two attempts to gain clarity (One which would have succeeded if the system worked and one that vexatiously failed) it seems that shareholders are once again left wondering wtf is going on. One has to say if it looks like a rat, smells like a rat and talks like a rat the only conclusion you can draw is that its is a rat. Its not as if this is the only example

April 2016 - "The acquisition of the valid Mining Permit over the Lahtojoki project area will allow the Company, should it so decide, and subject to any relevant environmental assessments or requirements, to proceed through to the development of the project."

A valid mining permit? Nearly fours years on we are still sorting compensation for landowners. OK so caveated by 'subject to any relevant environmental assessments or requirements' but I cannot recall these ever being laid out or detailed as to what was required until the last 6 months.

I'm not a geologist but I can read the RNS

Final results Nov 2019
"Review of technical data suggests presence of pink diamonds in Lahtojoki deposit which if confirmed could have a significant impact on the economic evaluation"

Half year results Feb 2020
"Presence of coloured stones including pink diamonds confirmed at the Lahtojoki diamond deposit"

“Despite the distraction of the EGMs being called the Company has made further progress with the Lahtojoki Diamond Mining Project and continued to carry out further exploration work at both Lahtojoki and in the Kuhmo region. I am particularly pleased with the very encouraging news in regard to pink diamonds at Lahtojoki.”

In the intervening period there has been no update confirming pink diamonds that I am aware of. You cannot tell me that they made this confirmation on the day of releasing the half year results.

No transparency before the EGMs and none after it appears.

No one likes the warrants, no one like dilution.

Here's a question though if you had the money and the opportunity would you have taken part in the placing at 0.4p (or whatever it was) and been happy with some warrants at 0.8p / 1p? Your basically putting your capital at risk on the promise of future reward.

OK they can churn placing shares but we have all had the option to buy at 0.4p and sell at 0.5p. It may never get to 0.8p.

So they may have been rewarded but they have taken some risk

As for director buys at this level whose to say they couldn't find anyone else to participate or it was a precondition for others that the directors got their wallets out. I've never been a fan of director buys at any level as it either raises expectations or generates resentment. Clearly its a lot easier to time a buy when your in charge of the company.

Anyway .... stay safe one and all.

Yes buy at the bottom ... bought here at 0.8p
Different company / sector
CS is also the chairman of KIBO and hes doing OK at EUA (eventually)

That would imply they need to raise cash. The last working capital fundraise £100k granted warrants primarily to POW / KIBO. Should all warrants be exercised, the Company would receive an additional £275,000 in cash inflow which would provide a significant cash runway for the Company. (This would have been the time to self-award?). WE also have 700,000 shares in LVG .

The Blyvoor opportunity is funded until project finance can be secured:

Pursuant to the Agreement, Katoro is to provide a ZAR15.0 million loan (approximately £790,000) to the JV ('the Katoro Loan Facility'), which will fund ongoing development work on the Project. To fund the Katoro Loan Facility, Katoro has raised £397,000 in the form of a CLN on terms set out below, which will fund the Initial Tranche of the Katoro Loan Facility. Katoro has also put in place a facility with Sanderson Capital Partners Ltd ('Sanderson') under which the Company may require Sanderson to subscribe for up to £400,000 in the form of a convertible loan note on terms that, if drawn down, will be no more favourable to Sanderson than the terms on which investors have participated in the CLN, and which, together with unallocated proceeds of the CLN, the directors of Katoro ('the Board') expect will fund the Additional Tranches if necessary/required.

Haneti funding

The Company continues to explore all funding options for the advancement of Haneti, which may include further join ventures or farm-ins; and the recent feedback received at the Mining Indaba conference in Cape Town, South Africa in early February 2020, included considerable interest in large scale nickel exploration projects, from mid-tier and Tier 1 mining companies, and demonstrated to the Board the strategic value of Haneti.

Tanzanian Gold - the plan is currently to divest (additional source of income)

Katoro Gold plc (AIM:KAT), the Tanzanian focussed gold and nickel exploration and development company, is pleased to announce that it has agreed a term sheet ('the Term Sheet') with Lake Victoria Gold Limited ('LVG' or the 'Purchaser') covering the disposal of 100% of the Company's wholly owned subsidiary, Reef Miners Limited, which owns the Imweru gold project ('Imweru' or the 'Project') and the Lubando gold project in northern Tanzania to LVG for a total staged cash consideration of up to US$1.0 million and a 1.5% Net Smelter Royalty ('NSR') ('the Proposed Disposal').

I never rule it out and a placing at a premium wouldn't necessarily be a bad thing to secure progress.

I don't see it as an issue ... should have said 12% of the 25%

Out of interest and reading through the last few RNS's I can see the 75% debt funding looks promising but what about the 25% equity. There are fewer and fewer institutions prepared to invest in clean coal (wrongly IMO) so the fact its coming from the Chinese is less of a worry.

"The JDA foresees the creation of a Special Purpose Vehicle to develop and undertake both projects. It is envisaged that the Project will be funded on a 75% debt and 25% equity basis, with the proposed ownership as follows"

Perhaps I have missed something?

Given the level of backing the project certainly looks promising.

Well they seemed to have missed the boat BCL .... could have done that at any time in last 12 months down at 0.4p

maybe a few switching horses to have a ride on ORCP