Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Great to see some positivity back here.
Seems like the question is not whether we have the credentials to deliver value but whether we trust the Prof and management team to do what is right for the wider shareholder group. A lot of people have seen their investments decimated over the past 10 years and the lack of urgency and communication, the unsavoury share issues and family appointments means the trustworthiness of the team has to be questioned.
Naturally, I hope this is the end game and success is in sight but I'm not counting my chickens yet.
This has probably been covered many times in the past 10 years but I've forgotten the answer so please indulge me.
What exactly is the role of Maureen Jones here? Is she the MD in name only or does she play an active role in (I use this term lightly) driving this business forward?
The prof is the face of the operation and largest shareholder. He therefore gets the brunt of any heat from shareholders (nowhere near enough in my opinion given the terrible communication and speed of progress), whilst Maureen goes completely under the radar.
Should we not be treating the prof for what he is...a 90 year old with vast experience but ultimately someone who you wouldn't want leading a business. He's chairman here, not MD or CEO.
So who is Maureen Jones and what does she bring to the table on a day to day basis?
Feels like management are just trolling us now on twitter. Moved on from the Copper tweets to continually rehashing parts of the half year accounts which told us nothing in the first place.
Please, either get a move on or put us out of our misery.
Another week ticks by.
This time with positive sentiment from valued long term holders and a welcome increase in volume.
Unfortunately no announcements from the company.
I assume nothing is forthcoming this afternoon so I wish you all a great weekend and here's hoping next week could be our time!
Love the energy here tonight Yogi and Hoops - nice work guys! Also great to see significantly increased volume after a quiet couple of months.
I guess my question would be...why would Rio, or anyone else, see now as the right time to pull the trigger on a JV or full takeover? With no end in sight with Russia-Ukraine, the escalating situation in the middle east, the uncertainty of a US election, current economic turmoil impacting inflation, debt markets and diamond prices...I want this deal to happen as much as the next person but nothing has happened in the last 10 years when the world was a more stable place, so why now?
Unfortunately it's impossible to put a timescale on things here. We could be sold within 3 months if the BOD wanted to. On the other hand we could still be here in 10 years having just celebrated the Prof's 100th birthday...
Hard not to conclude here that the Prof and the wider BOD have complete contempt for long term shareholders. They should be embarrassed by their behaviour over the past 10 years but they really don't care.
Yes, I think this will come good.
Yes, that will make me happy.
But boy, I'll still struggle to have nice things to say about this lot.
Interesting to see our sister company adding the Prof's son-in-law as a non-exec director today. Not unexpected given his daughter is already part of the puzzle but doesn't sit right for a public company to act in such a way.
Wonder if we'll get a similar announcement tomorrow? Guessing such a move wasn't mentioned at the recent AGM.
Hard to be positive about such appointments and just reiterates the need for the BOD to get a move on here in order for non-connected shareholders to realise some sort of return.
Been great to switch off the past couple of weeks and spend some quality time with family and friends. Really hope everyone else here has had a relaxing and enjoyable break.
Looking forward to 2024 and not sure how to feel about KDR. Around the Summer I was confident that the end game was in sight and took the opportunity to significantly average down in anticipation of good news.
Unfortunately the well documented and talked about share issue then followed. Whilst there were positive noises coming out of the AGM do we really understand the reason for the placing in terms of exact timing and value? Yes, the BOD are feathering their nest but why the discount and why before the AGM? Still all seems very odd.
Here's hoping we actually see some return on our investment in 2024. Long term holders certainly deserve it.
Unfortunately I won't be at the AGM.
I hope that those that are there use it as an opportunity to really grill the BOD. KDR may well come good, and I really hope it does, but this was 'sold' as a business that would make transformational gains for shareholders yet over the past 10 years plus all we have seen is fluffy RNS followed by dilution. Original shareholders who haven't averaged down over the years will effectively be left high and dry ... transformational yes but not for the reasons intended.
The last share issue was simply out of order so, at the very least, we need to know the end goal here. Our figure head is 90!? Not 80. Not 70. Not 60. There is simply no time to waste ...what is the succession plan? KDR needs to put a bow on this business asap, sell up, move on and leave behind a lot of happy shareholders. It can't be allowed to drift on anymore.
Rant over! Look forward to hearing updates from tomorrow's AGM.
Nice spot Yogi re the similarity with the January 2018 RNS, both in respect of ODM lab results. The Prof has practically copied and pasted his opinion.
Today "They also suggest that we may be getting very close to
locating the source of the green diamond which the Company discovered."
January 2018 "I am delighted with the results which suggest that we may be very close to discovering the source of the green diamond".
This RNS was clearly issued to placate shareholders in advance of the AGM. I fear it will do the opposite unless followed by some serious good news update today or tomorrow. This release shows either breathtaking naivety or complete contempt towards LTH in particular. The BOD must do better.
Really feels like we are entering a pivotal week for KDR.
I get it when people say this has been a lifestyle company for the prof and his family, however, this now has to be about leaving behind generational wealth and creating a legacy. That only happens with an Exit (for Finland at least) and the prof is running out of time.
The recent placing, both in substance and form would have been well thought out and meticulously planned, knowing full well the huge potential for fall out at the AGM.
Finland is good to go and I see a big announcement coming in the next few days. If not, Thursday's AGM has the potential to be painful at best.
There has to be GREAT news before the AGM rather than good.
The recent placing at a huge discount showed complete contempt for shareholders, old and new. All will be forgiven if this comes good but the AGM could be a little frosty if the BOD don't come bearing gifts.
Not looking for sympathy as we all understand the risks in investing in a company like KDR. What is frustrating is when a company seems to deliberately 'go slow' when it's 100% reliant on investors to fund day to day trading.
My average is now just the right side of 10p but taken a while to get there...