Member Info for whitebuffalo

Chisler. Almost, I think. -The GWMOF ticker is live, but I think we still need to wait for a bit more back-end admin to be completed (to move it from Grey Market to OTCID - Current), which might be a few more working days.

CPete, whilst the US ticker will technically be active until 9pm, don't expect much activity after London closes. The market there does not hold its own shares, so, when London is closed they have to carry the overnight risk until the next trading day. Expect the US ticker GWMOF to have a much wider margin after 16:30 BST. I expect any US trading to be highly focussed between 14:30 and 16:30 BST on days the LSE is open.

Back before the Mill became more of a Millstone (I know, we might get there one day) I bough 1% of GWMO and hoped for the best. I was disappointed bu whst followed, naturally. However, like the proverb about the runaway horse - "good luck, bad luck, who knows?" I can only persevere. Just topped up another 476624 shares to get back to 1%.

200:1, I think.

Because the share price of KOD is overly driven by sentiment; like all AIM companies. In the most optimistic light, I expect the level of sentiment could be described as Cautious, at best.

It's an ambitious plan. Getting an MRE delivered this calendar year would be an exceptional feat. I hope the can pull it off. The new CEO seems like the right person for the job.

There's a new video on Engage Investor from Kodal, dated today. Probably available elsewhere too.

Unless the buying pressure is phenomenal, I don't believe 56% of the company can be offloaded onto the market at a profit in any near-term timeframe. Obviously I have no experience of how that kind of financing is structured (with the oft-quoted claims of Forward-Selling, etc), but my expectation is that someone didn't stump-up that kind of money to tank the share price in a race to off-load them: that would seem self-defeating to me, as I expect the share price would quickly dip below their buy-in price [even if, as some might argue, some of those shares have already been sold at 1.8p+, the sheer number of them would make that immaterial in the short term]. My personal view is that they will wait for the scope of the project to firm up. Uneasy sentiment might see the share price drift to the placing price and maybe dip below it, but I think the Carrot of Potential will pull in enough investors/traders to offset that (at least until news lands; then likely the AIM mantra of "sell on news" will see some volatility). If 1.2p does reappear in the near term, I doubt it will be here for long (unless poor results are the cause of it).

When building a jam factory there are a lot of days without jam.

Details matter. I get that. I love a good spreadsheet. But the bottom line is we loaded 28950 tonnes and got paid for 28735 (of whatever purity and moisture content). Hainan checked it and paid accordingly.

Unless this is a case where dry doesn't mean dry, and one man's dry is another man's wet?

The market price is listed for DMT, so my wirking assumption is that this price (adjusted for other factors) is what is paid per DMT (even if, as Albatross taught me today) "dry" can mean "upto 15% water." So, perhaps our shipment was 15.74% water?

Albatross,

I did not know that. Thank you.

Regardless, we get paid for whatever is classed as dry (I presume), so it only matters what the discrepancy is between what we transport and load, and what we get paid for.

George,

The first shipment RNS stated 28,950 WMT loaded. Today's RNS stated we were paid for 28,735 DMT. Unless this is an error, the water content is (unbelievably) 0.74%

Potatohead,

Isn't it 10,000 not 12,000 - if the annual figure is supposed to be 125,000?

I'm astounded that the water content of the shipment is apparently 0.74% (28,950 wet tonnes to 28,735 dry tonnes).

My takeaway from the modest results, which included no Cu update (possibly because they're not ready; probably because they're underwhelming) is it's an invitation for a fund raise to keep looking. Even if the best Tungsten results materialise; with a JV partner included, this will not provide funds for this exploration front; nor is the mill likely to provide them. This is my interpretation.

Whatever the Tungsten results, I will be waiting to see how they plan to fund the work before putting any more money in here. I once held 1% of GWMO; which has since been diluted away by 75%, so I'm aware of how unreliable they can be at delivering on their hopes (regardless of whether 3rd parties were the problem). An announcement of great Tungsten results coupled with a JV to carry the costs - that would be the best outcome, I think.

Rotter,

I think part of the reason for the lackluster share price performance is the room for interpretation and ambiguity in information coming out of the comany. Different dacts are stated at different times and it is left to individual judgement to try to piece that information into a picture of what is happening.

For example, how difficult would it have been for the company to have said something like "28950 wet tonnes of spodumene have been loaded. We expect this to contain X dry tonnes of 5.39% Spodumene, for which we expect to receive $Y in total payment. This will be paid as 95% of Y once loading is complete and the remaining 5% of Y following unloading and testing at Hainan island."

PhilandLynne,

Normally, I do not believe the capex for the mine build is recoverable before profit sharing. It is a sunk cost reclaimed through asset depreciation. However, in the latest interview, Bernard seemed to say that KMUK would recoup the outlay before they decide whether to use the funds for stage 2. So, I don't know. It is well documented that Mali have 35% of LMLB.

I took a stab at calculating the moisture content when the loading RNS arrived. We loaded 28950 tonnes (wet), and looked at the percentage difference between $930 a tonne that was stated and the $24m for 95%. It was 6.17% which seemed reasonable to me. I'm not declaring that as a fact.

Maybe LMLB did receive more cash, but they retained whatever percentage is due in royalties. 8% roughly makes the numbers match...?