Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Unit of electricity.
Don't suppose anyone knows what we proposed as a price per unit. There's news about 2 other projects and the Gov are paying $0.11 A unit
But o can see this closing either flat or up and news by Tuesday
So for me neither ADVFN nor LSE alerted me to the RNS which is annoying.
After skimming it over twice, it's definitely not great, but it is what we have all been asking for. Wanting something won't make it happen. It does seem to me that the LIND money could have been put to better use (on the surface) but if when we have secured funding the production suddenly booms then into will be us that was wrong.
I'm hoping that any farm-in will be put to the shareholders for approval, so we aren't taken advantage of, but it seems for now we have two options.
1) Wait, put up and shut up
2) fight for more answers
I'm erring on the side of option 1. We have asked for an update, we have it. We have said the board shouldn't take a wage while we are in turmoil, they've done it. There are some bits that we have to bear in mind, it is or was wet season, modifications to the plant will likely have resulted in some downtime on production and increased expenditure for engineers etc.
Virtually every point that has been written on here and emailed to the board has been answered.
This could be the pivotal moment or it could be the death knell, I'd suggest that the first and last paragraphs of the RNS are just reiteration on the result of the open offer, they said in the last email that it was going to make operations more difficult, if they said anything other than that in this RNS I'd certainly be wanting an investigation in to coercion to buy shares.
I'm going to email the board for an opinion and then I think I'm going to put this to bed for a couple more weeks
If we do form a group, and it's nothing to do with ulterior motives, but Larry I don't think you should spearhead it as some of your statements are too inflammatory. I rule myself out for hotheadedness so anyone else willing to prove themselves
Are they calling it LSD? would explain why some posters are content with talking to themselves ??
Wolf, would be interested to hear what advice has been given. I think it's nearing time we have another bite of the cherry on the General Meeting. But as I said last time, we need proper knowledge of how to go about it legally and safely
They'll probably wait 3 months. So may be another 4-5 weeks for updates
Well all I can say is, it seems the only thing people on here haven't yet tried
I maintain that going through the NOMAD is better pressure. They're acutely aware of AIM rules, if there is anything worth notifying they will make sure they do it.
I did speak to them last month actually. I can't say it made any difference, but we each have our own concerns. I did learn that they have a duty to inform the board of who has called and why.
NOMAD should I say
Anyone phoned the broker recently?
Sorry mate, not sure I see the link between that and TZ tenders
Aerial stated that the rejection of tenders is all down to the tarrifs, as far as some people on the KIBO board are concerned.
We need to have enough funding to survive 3 months. If the rumours are true and it's down to tarrifs, when the next tender is announced it will be 1 month to submit and an absolute minimum of 2 months to announce (If the last was anything to go by)
Aerial - I doubt wages would be as much of an issue if we knew that the CLN was covered and we were turning a decent profit on top. It's an annoyance and a shame that the board have shown nothing to suggest that this is even something that is achievable in the short term.
I've read the RNS from KIBO, I've also asked the board why we haven't had something similar as an update. If tariffs are the crux of the failing then it would certainly fill me with some confidence that another round will be held soon. Again though, it seems odd that, if that is the case, it hasn't been announced.
The board have to fight the issue that most people thought the tender was a done deal. I don't think they are making things easy on themselves by clamming up though
Aerial, the only way I can see but I doubt it has any merit is the idea that they (Tanesco) were after some envelopes to magically appear on their desks.
I find it difficult to believe that it has any political motivation to it either. So for me the tender failing comes down to just a few possibilities;
The company is too green in the horn for the undertaking. Probably the most likely outcome, but one that may be resolved if someone more experienced came on board. The flaw I find with this is, I'd imagine that Tanesco would come out fairly soon after and tell both KIBO and EDL that, that was the case. (To be honest I'm not entirely certain that I haven't posted that before, CBA to scroll to find out)
Or
The news from contract to build the infrastructure that had been posted the other day, has forced Tanesco to postpone the tenders. This is for me the most worrying as I'm not convinced that the company can survive for more than 6 months without good news and more permanent funding. If I remember not even 10% of the connections had been made in the 18m since contract inception. Again, CBA to check details, been up too long to care lol
Or
Someone has made a massive balls up with the tender details and have withdrawn in an attempt to save embarrassment.
Or
It is political and someone hitting out against the Chinese and TZ are taking a more Pro-EU stance.
Anything outside of those would probably shock me.