Member Info for SirGBoycott

Perhaps he'll suspend the company and relist ................... I think that would be the preferred option for a number of holders

The only people creating doubt and uncertainty about a placing are people posting on here. Its been imminent for 6 months according to some.

We all know or surmise that the company is going to need further cash for working capital and to progress its projects at some point yet at the same time we seem to have paid for our Mining Licences out of some mystical non-existent pot. Yet it was known that the money for the SML (more than required for MLs) was ring fenced so perhaps we have a little leeway. There is the sandersons facility as well as other ways of raising cash.

AGM RNS
"At the date of preparing the Circular, the Board had no plans to allot New Ordinary Shares but has proposed this resolution so that it has the flexibility to do so should it be required."

Now I'm not daft enough to think that on may not be down the line but the fact the resolutions proposed include provisions to change the nominal value does not mean a placing is imminent. I doubt they could have had the AGM without including these resolutions unless the share price at the time was above the nominal value.

Another good update this morning and signs of progress if not as fast as we would all like.

You need to look closer to home

Yes that statement is correct. But to ascertain that this RNS is a desperate and unwarranted when you know what the ML process is and they needed paying for and have constantly reminded us how little cash KIBO is supposed to have is just downright misleading.

If I smelled a rat I'd run a mile not linger around for an entry price. Perhaps that RAT smell is coming from somewhere else?

For once it needs to **** down for three days .... christ if we cant beat them on the pitch you'd think we could organise the miserable weather better

Not sure the point of this today?
Seems like it's a last push, if you can call it that to get news out prior to the big dilution RNS.
For some reason today's RNS is so unwarranted I'm starting to smell a rat.

Whats the process for getting a Mining Licence Sonic?
Its only approved / binding once the relevant payments are made so this is very relevant!
POOR ATTEMPT

Lets see then ... not long until Oct 2019

The same political risks you will see in just about any set of Financial Accounts for any company operating in Nigeria I would imagine

try reading it .....

But not too far if it’s low enough hey ...... then the piper pipes a different tune

But to be fair finance is the key along side concrete agreements. Good to see we have moved on from coal being dead.

Thought nccl was a better bet?

Transparent.

First glance I'd agree

I thought we were well past that Global a number of months ago just as we were with the start of the beginning .. in truth we are where we are and where we were yesterday but knowing more today that we did the day before but not enough to know if the end is starting or the beginning has begun.

It vexes me greatly that the company feels that this EGM is hampering the Company in the orderly conduct of its business ..... it at least seems to have given them something to do

Anyone planning on going? I have another one in Dublin and if its on or around the same date may make the trip. Its cheaper than getting to London for me from Leeds.

Top of the agenda has to be working capital requirements 'At the date of preparing the Circular, the Board had no plans to allot New Ordinary Shares but has proposed this resolution so that it has the flexibility to do so should it be required.'

Thanks JD.
We'll see on 0.35 - 0.5
One does get the impression the AGM was delayed to avoid this but I doubt they could hold the AGM and not address the issue. Whether they choose or have to use it is a different matter but working capital will have to come form somewhere.

If there was nothing in the agm notice to address par value then what sort of speculation would that have created? Would it be preferable to use the Sanderson facility or raise on the open market?

‘Vexatious’ ...... holding kdr shares is vexatious

"Far from doing very little, as the requisitionists have tried to assert, the Company under its existing Board, has achieved a great deal by way of a well thought-out and carefully planned, very focused and success-orientated exploration and acquisition programme"

Whilst this may be true it is certainly not visible to existing or prospective investors as evidenced by the number of non-Board shareholders that voted against and needs to be addressed by the Board.

What else was in the circular that might be of interest to existing and new investors and where are we with them now?

"Your Company has also carried out other necessary and highly encouraging technical work in relation to the deposit and has also made extensive progress with the Finnish Government’s regulatory authorities and, very importantly, has made contact with the landowners in the area. Such steps are an essential part of the mining permit process in Finland. The requisitionists are now attempting to gain control of the Company at a time when all of this work is coming to completion."

Two months ago we were near to completion? What work ... an actual permit or the information required to make an application?

"The Board believes, nonetheless, that the Company is now at a stage when the asset value of its properties, including the Lahtojoki diamond deposit, may progressively be recognised by the market."

In the last two months the share price has actually risen from 2.25p to 3p. Before we get too excited it actually rose to 4.25p on anticipation of a change of BoD and dropped back to 3p on the results of the EGM. I would like to understand how the market will progessively recognise the value in KDR if KDR does nothing (bar a daily tweet) to inform the market of the value and capability of the company?

"The Board is aware of the accusation of slow progress in the development of the Company’s assets but the amount of work that can be carried out is dependent on the funds available. "

The amount of funds available is dependent on the Share Price and credibility of the company seeking to raise funds. Given the last fund raise was for £100k its hard to see anything but more slow if any progress.

"The current Board plans to move forward to developing a diamond mine by continuing its sensible technical and financial approach."

It would be great to see some form of a plan (even high level milestones and deliverables of how this is going to be achieved. As far as I can recall the company has simply stated it wants to build a diamond mine (certainly as along as CGNR has a 'plan' for developing a gold mine in Ireland) and never shared or communicated a coherent plan of how that would be achieved.

"Furthermore, the Company has a Confidentiality Agreement (with back-in rights) in place with Rio Tinto Mining and Exploration Limited, one of the largest mining companies in the world. This Confidentiality Agreement has been in place since July 2010 and runs through to 30 June 2020"

In 10 years we obvioulsy haven't identified any suitable projects but have there ever been any serious discussion with RIO re back in rights. What are the plans beyond June 2020?