Member Info for Y00020978

My thoughts are, anyone investing these big chunks over the last two weeks (£17k today) will know something and be confident of making a profit from these levels.

That in turn will make anyone else a profit buying at these prices too :)

Ignore this absolute nonsense.

ZBNI 50% up on opening.

GLA

Key points I scribbled down from the meeting:

- Reiteration that Summit consortium have been involved all the way through the financing process and OWI are part of the consortium.

- Record have over £106bn worth of assets under its management so its a great company to have working with us alongside OWI.

- The Summit's involvement will remain as they are incentivised based on us reaching Financial Close. This is a big positive.

- LSE is going to become the primary listing and a move onto the main market of the LSE (FTSE500) will take place as we approach Financial Close.

- Early Works is in progress but facing a delay with the marine work. Expected to complete towards the end of the year.

- Relationship with the RoC government is very good and they are very encouraged at the progress being made and the project timescales.

- No progress on the potential sale of DX, the focus is on Kola and they are looking at any synergies between Kola and DX to add further value.

- When asked if a takeover approach is likely, the response that continually delivering against project milestones is the best way to increase value in the company which they continue to do.

- When asked about increasing awareness of the company, the response was that they are working with a number of Brokers to increase the shareholder list.

All very positive - onwards and upwards!

I mailed a senior figure at the company and received the following response:

I’ll provide info at the AGM - But in short nothing has changed.

The summit consortium included summit/Power China/OWI. The EPC contracting party is Power China.

The finance contracting party is OWI RAMS which is a JV between OWI and Record asset management.

Summit continue as advisors.

When asked if there are any concerns with the steps required to reach financial close, his response was - 'The conditions are much as expected'.

JSE finished only 2% down after a rollercoaster day!

LT - the title of the RNS suggests the terms have been signed:

Non-Binding Term Sheets for US$2.2 billion signed

- They've deemed the news 'very positive'

- The terms proposed cover the complete cost of the project (plus owners’ costs) through to first production and avoid

shareholder dilution which could have been as high as 60%-80%

- They see good strategic alignment with financier given OWI-RAMS' own focus on food security

which complements well with positive fundamentals around long-term demand for low-cost

potash in Brazil.

- There's significant opportunity to unlock optionality at Kola. The RF Facility effectively means Kore will

relinquish, on average, 15.2% pa of gross revenue over Kola’s life of mine (currently modelled at

23 years) to secure the US$655m of royalty financing. While this level of royalty rate is higher than

that used in conventional mining royalty financing arrangements (typically 2%-5%), they believe the

low-cost nature of Kola and the project’s expected high EBITDA margin of 74% (average expected

annual EBITDA of US$733m) indicates the project can comfortably absorb this cost of royalty

financing. They also see this financing unlocking significant upside optionality given they believe the

modelled initial project life of 23 years to be highly conservative.

I was expecting the funding to come from Middle Eastern sources.

You may be right that Summit brokered the deal.....either way, whoever brokered the deal, wherever the money is coming from.....the funds are there, with no dilution to the shareholders.

Whichever way you dress it we have a globally significant project worth multiple $bns, a major EPC partner, with a $2.2bn non dilutive finance package agreed......and our MCAP is under £200m!!!

Where's 99IceCream with is updated forecast? :)

If you're claiming that Record aren't fully onboard, the RNS is certainly very detailed for a cover up job!!

This proposal was obviously more favourable than the terms offered by the consortium - smart from the company not to have all eggs in one basket.

Record Financial Group is a leading specialist currency and asset manager with $102.7 billion in Assets Under Management Equivalents (as of 30th June 2024)

Doesn't sound like a tin pot organisation to me!!

TRANSFORMATIONAL NEWS this morning :)

Some more chunky buys today.

Follow the money ;)

Being quoted 3.495 to sell 500,000 shares.

I think i'll hold on to them for boom time thanks :)

The JSE is the South African exchange (Johannesburg Stock Exchange)....they operate similar hours to the London Stock Exhange so we'll see in the morning :)

Yeah from Friday....but signs must be good if someone is willing to buy 900k shares in one big chunk.

Had a little tip that they are almost there?

GLA

The price action, the size of the recent buys and the wording in the RNS certainly suggest that negotiations will conclude positively and the company won't be forced to walk away from the summit consortium.

GLA

900k bought at 3.8p......they may have an idea how the negotiations are going.

GLA - not long now!!

On the JSE i can't see a higher trade in the last 5 years than the recent 84 ZAC trades.....until today's 85 ZAC trades.

Either way we all know we're on the verge of transformational news if positive :)

GLA

Sorry 3.5p rather :)

0.85 ZAR = £3.50