Member Info for SirGBoycott

email sent.

As a longstanding shareholder of the company and previous attendee at AGMs and Shareholder events I wanted to understand why the company appears to be stalling on holding an EGM. If the company has nothing to hide and if it is NOT in my interests to support the proposals in the EGM then I would like to know why.

I have invested a lot of time, trust and money in the company which is wearing thin as my personal loss continues to grow. This recent procrastination over holding an EGM is unacceptable and reinforces my inclination to support the alternative way forward. Which to be honest is a lot more transparent already than KDR have been in the past.

I accept that a Legal process has to be followed but I would expect MY company to be making every effort to facilitate this EGM so we can have an open and honest conversation about what is really in the best interests of shareholders.

Was just thinking that myself and noticed no email address on the website. Thankyou for the email address

It also doesnt include my holding and I will be voting for the proposals once the company has exhausted any ways of trying to wriggle out of this genuine request

"The Board will consider the request for an EGM in accordance with the statutory requirements of the Irish Companies Act 2014 and further announcements will be made in due course by the Company"

Stalling for time and running scared. If they had nothing to hide and its not in my interested HOLD AN EGM.....

Then we get to the elephant in the room ...Finance. Lets see the final results. In the interim we have the much Sanderson facility to draw on if required. Not ideal but not terminal.

The demand for power is there across the whole african region ... Moz is actually sending current spare capacity to Bots and South Africa is crying out for power. Coal is still very much part of the overall supply mix and KIBO is positioning itself to provide alternative sources.

Qui audet vincit ..........

As for Mining Licences. Its a reall bugger and like a milstone round our neck and we dont have the key to unlock it. Bots is supposed to take 30 days. I emailed the a general contact address for Ministry of Minerals, Energy and Water Resources (MMEWR) and actually got a reply of 30 days to approve a licence yet the last one approved took 9 months. The difference between whats supposed to happen and what actually transpires is so frustrating ... incidently its coming up 9 months since we applied as its not been rejected I am assuming its just not been looked at or got to the right committee.

The SML is equally frustrating esp with the recent update regarding private offtake which you would thing was a green light. PEAK must be fuming esp with the recent Pentagon messages re rare earth minerals and china. I don't see any issue with the application beyond a complete lack of urgency and cohesion withing the TZ govt.

The last RNS is encouraging and Moz is progressing to the last stated high level development timelines as per the broker note. I think many myself included expected the PPA / Coal Sales agreements to have been concluded by now but any 'delay' or protracted negotiation here doesnt seem to be impacted the timelines for FC. The project appears to be progressing well .... yes we have heard this all before with MCPP .... to me its the same except the govt in Moz is not the same govt in TZ ... and we have some interesting links. I'm also encouraged by progress at NCCL who have been at this a lot longer than us and got no further than we are .... you could make a case that we are further ahead although not in terms of SP which is a great source of frustration. This project could be the kick start that MCPP was supposed to be (and could still be)

As for KIBO LC is in London on 18th June. We are due an update on MAST in June - 14-21 days long stop date to complete the all the outstanding actions plus 5 days for completion as per last RNS and that is one project that is progressing well and keeping to timelines and still stated to achieve revenues by year end (although if this was Jan / Feb next year I would not be surprised)

ask yourself which is more delusional to sit on a bad investment that is only going one way or continue to hold because you believe in a positive outcome and you will get your answer. The counter argument that its so bad I have no option to hold and hope for best is bunkum in my book. Do what Boffer did, sell and go away and come back if you still see value. Hanging around like a stale fart is just not cricket

You’ll get over it and move on one day jax05. Chin up.

Yep. If I can conjure a work reason to be in London then I’m all for going. Not looking good at the moment but working on it. Pretty sure yaki will go.

Its one thing to call for it and another to organise it, put the cash up to do it and get the necessary votes to achieve it oh and then have a plan to do something different. Credit to Alan and others for putting their money / time / effort where their mouth is.

How many AIM companies do they call for the BoD to be removed and it never happens. Its easy to call for change much harder to make it happen

If Liverpool had the same sort of mentality as that Jax they'd never have won the champions league.

DrSteveGrimmer, apologies if I have caused any offence it was not at all intended. We met briefly at a previous AGM and I know the enthusiasm you have for the Lahtojoki project. The 'spite' comment was tongue in cheek and I was genuinely pleased to see your name alongside the other proposed directors and was keen to know whether this was the same Stephen Grimmmer that had been involved with KDR previously. Your name adds a lot of credibility in my mind and I look forward to the EGM.

funny way of retesting 0.7p

Sorry written in Nov 2018 but recently posted on EDM's website

https://www.edm.co.mz/en/website-mobile/article/not%C3%ADcia/integrated-master-plan-2018-2043

Worth a read and published alst week

" With abundant natural resources and active FDI (foreign direct investment), the country is expected to have further GDP growth by about 7.5% to 8% in the medium- and long-term through expansion and concretization of coal and natural gas mega projects"

https://www.edm.co.mz/en/website-mobile/article/not%C3%ADcia/parceiros-apoiam-%E2%80%9Cenergia-para-todos%E2%80%9D-com-82-milh%C3%B5es-de-d%C3%B3lares

The World Bank, the European Union and the governments of Norway and Sweden support the Energy for All program worth $ 82 million. It is an initiative to allow universal access to energy for Mozambicans by 2030. The agreement was signed on 22 May in Maputo between the Minister of Economy and Finance, Adriano Maleane, and the Director of World Bank for Mozambique, Mark Lundell.

Moz developments

Govt on a drive to raise funds
https://ewn.co.za/2019/05/31/mozambique-on-a-drive-to-raise-post-cyclones-reconstruction-funds

Yet at same time is able to export electricity to Botswana from available surplus

https://www.newsghana.com.gh/mozambique-exports-electricity-to-botswana/

Stephen Grimmer brought back in by KDR for Lahtojoki and now no longer working for them. He's either doing this out of spite or sees value in Lahtojoki that the current BoD are failing miserably to realise

We acquired a Mining Permit THREE YEARS ago

"The purchase price is €150,000, comprising an initial purchase price of €50,000 plus a further €100,000 after twenty four (24) months unless Karelian decides not to develop the project."

Feb 2019 Half year year results

"The Company has made successful progress, particularly in regard to regulatory matters, with its Lahtojoki Diamond Mining Project as we move towards the issuance of a mining permit"

All we seem to have done in three years is let the licence lapse so we can apply for it again. OK so we have a PEA but how on earth does the company plan to move this towards a fully funded mining operation. Lets have some answers and alternative options on how to move forward.