Member Info for SirGBoycott

TD / II now allowing you to buy into SIPP / ISA

They dont work for me so just try following @TriStarSPMP

In which case if he calls I'll buy first and tell you lot later .............

It seems a few people want to add .....

Phoned II and spoke to the trading team. Its clearly not set up correctly and they are looking into it - ho couldnt get through to the relevant person. I will get a call back when resolved. I can sell but not buy in ISA / SIPP

Good spot. You could infer that its possible that it could be signed before the accounts are issued to shareholders or very shortly following.

Anyone having trouble buying? Tried to add to ISA and got the following (II) This stock may not be held in an ISA or an II Junior ISA. Common reasons why a stock may not be eligible for an ISA include the following: Stock must be listed on a HMRC recognised Stock Exchange Futures, Options, Contracts for Differences (CFD), and Covered Warrants are ineligible Warrants that are not directly linked to a qualifying security are ineligible ETFs listed on exchanges outside of the UK are ineligible Certain dated Bonds, Gilts and Treasury Stocks may not qualify If you wish to discuss this further, please call 0345 607 6001

That was my big take away from the AGM - having been to a few the level of enthusiasm was palpable. They are looking to update the market shortly which could be anything form days to months but I would have thought with the plant so near to completion and first contracts of feedstock / product to be concluded its likely in the next few weeks, probably tied up with an update on financing

Clearly GE / SEPCO thing so which is what counts.

Thats a good point perhaps something I didn't mention .... I didn't get the impression that its a hard negotiation but more of a discussion on whats required to get everyone to sign off, if that makes sense

Apologies for taking so long and this is from memory and I had a heavy night afterwards so please bear with me. Im also catching up after two days out so might be a little longer to reply to answer any questions. From the KAT AGM. I asked two questions specific on KAT after the AGM relating to the issue of mining licences in general in Tanz and then onto their stated plans for diversification which I will post on the KAT board. Its clear that LC likes a diversified portfolio from KIBO and that’s both mineral and geographical (perhaps a lesson from Tanz? But also I expect in terms of attracting investment and reducing in-company risk). KIBO will focus on energy and I expect KAT’s additional venture will also be outside Tanz. Haneti will come out of KIBO but not convinced into KAT). Following the KAT AGM and LC stayed behind to chat to myself and YAKI. I asked directly about the PPA / SML and without wanting to bleat on or overstate the obvious the impression is when not if and it will happen when it happens. Specifically …. Tanesco have a ring fenced team working with KIBO on the PPA (40 people from recollection). It is something new / not been done before on this scale and things do crop up which is frustrating. No one has got this fair in Tanzania and no-one expected KIBO to get the TG to sign the MOU Moz is not an attempt to distract from Tanz but simply executing the stated strategy He does read some of the comments on here and felt the point that the PPA element of the deal was missed by most. Now I want exactly sure what he said or meant but I am assuming that this refers to the MOU they have already with EDM and that as they build the DFS they will know this key parameter upfront … the part that is now holding KIBO up. GE / SEPCO need KIBO (in different ways) to penetrate the market. They have the in-house expertise and presence in Africa. Moz is an example of people coming to them to take the project on and they are able to specify the terms (to a point clearly) We asked about the investor event. LC stated July / Aug but is talking to st brides as that’s holiday season. He also wanted things to be settled by that point. That led onto a question about ‘settled’ being SML / PPA signed but he would not be drawn. Its clear he wants to engage with shareholders once the position is clearer. You can all read into this what you like Overall the one thing I hadn’t really grasped before was the idea that the new mining legislation has been rushed through and they are now (both applicants and officials) working out what it actually means on the ground. LC was keen to stress that they want to get it right first time and working very closely. We did talk about current share price, institutional investors and whether the directors would buy. I am sure YAKI will add / correct as appropriate.

Mzee / Cunning the point being is KIBO isnt in the market to buy and devop coal mines to feed power plants or integrated plants its the power element that is key and you rightly say in Moz plenty of coal and someone else can dig up and export it

Yes LC did mention gas. He was keen to emphasis when asked about KAT the need for diversification both geographical and mineral type. The same will apply to kibo ... three countries and I suspect he will want to add another type of power project. Keen to stress Moz has no coal and kibo is not a exploration / mining company building a power plant.

It’s definitley NOT about squeezing out the last ounce. More kibo asking the questions and the authorities not having all the answers. The two parties are working together to thrash it out and ensure all govt parties are aligned

Clearly start of production and first sales will have an impact but the real kicker will be when they have the data on how efficient the process is and what they output they can achieve. I’m not expressing this very well but there are several variables that will affect the commercial profitability of the roaster including the sale of waste products such as gypsum etc which will take a number of months to collate the data, poss a year

Not a problem just a shame you couldn’t be there

Well you were quite persistent ......

We asked directly what their intentions were, and its long term cash flow (as long as they can make it work). I even asked if they were prepared to put a statement out to that effect and it was something they had no real issue in doing. Clearly they may think differently if offered a Billion (his words) and I'm sure we all would if that was the case. They see it as a partnership and David Fletcher was most enthused by the whole project esp on the antimony side. He spent quite a while trying to explain to me that at present antimony isn't really a tradeable commodity but that going forward it could be and TSTR would be the forefront.

same from me ... completely upbeat and was surprised at how enthusiatic Mark was (at one point he was told to sit down by his advisor). Karen came across as very professional On the Emin front I am now certain its more to do with the need the right person operationally to make this work. I suspect he became almost surplus to requirements and a cost they copuldnt afford - move from strategy / vision to operations. Two things they specifically mentions is that Karen is there to get a grip on the costs at TSTR and the new CEO for SPMP has been specifcally drafted in for the job of getting this operational and efficient (ie someone that knows what they are doing and has doen it before) I think we can expect an update on the money front shortly .... it may be linked to the ongoing conversations re feedstock and how operating cost cash flow is managed from what was said but may defer to others on that front

Pauly ..... Yaki tried to persuade LC to take a million in shares yesterday and I don't think his position on director buys has changed.