Katoro Gold Share Discussion Threads

[grahamwales] 06/5/2021 08:32

Very close to placing price imo. Do I buy more now or wait. M cap way to low for assets but the clowns influence is part of the reason.

Watching trades closer now

[grahamwales] 06/5/2021 07:42

Latest interview

Why do interviewers always ask questions shareholders already know the answer to.

The clown is really bad but the interviewer is just as bad.

[onedayrodders] 05/5/2021 21:23

RNS 30th January 2020 !!! .... Dangling the initial carrot, then stretch out with a placing to keep the wages coming in....

"Our initial objective is to rapidly secure the project level funding required to construct and commission the plant to reprocess the Tailings in order to start generating revenues. I must emphasise that this is financing at the project level and does not represent dilution at the Katoro Gold plc level.

"In support of this, the necessary approvals are already in place, including a mining licence and EIA, meaning the JV is poised for immediate action as soon as the project funding has been secured.

"We look forward to working with Blyvoor to bring the Project into production"

"Rapid..Immediate...Production...generating revenues" .... he should be a paid ADVFN ramper

words fail me ..for once my instinct paid off when I watched him in an interview, I thought this guy is dodgy, made me feel uneasy watching him and listening.

[grahamwales] 05/5/2021 20:03

Things have changed since the agreement



The Initial Tranche (of the Katoro Loan Facility of ZAR5.0 million (approximately £263,000)) must be provided by 3 February 2020. Funding for the Initial Tranche has already been secured by the Company in the form of the CLN as detailed below. The balance of the Katoro Loan Facility of ZAR10.0 million (approximately £527,000) can be drawn in further tranches, if required before the project financing has been secured.

The Company has also put in place a facility with Sanderson under which the Company may require Sanderson to subscribe for up to £400,000 in the form of a convertible loan note, on terms that, if drawn down, will be no more favourable to Sanderson than the terms on which investors have participated in the CLN, and which, together with the unallocated proceeds from the CLN, the Board expects will fund the Additional Tranches if required.

The Katoro Loan Facility shall form part of the development capital project financing that Katoro shall procure in accordance with its obligations contained in the Agreement, as detailed below, provided that:
· the balance of the Katoro Loan Facility then outstanding shall be subordinated to third party creditors participating in the development capital project financing;
· the Katoro Loan Facility will bear interest at the 12-month London Inter Bank Offered Rate, or its successor; and
· the Katoro Loan Facility will be repayable within 12 months after:
- the last third-party creditor participating in the project financing shall have been paid; or
- any earlier date on which the Parties may agree.

Katoro will confirm by written confirmation to Blyvoor that it has completed a corporate, legal and technical due diligence investigation in respect of Blyvoor and the Tailings and Rights, by 3 February 2020.

Under the terms of the Agreement, the Company is also required to secure funding for the construction and commissioning of a beneficiation plant and auxiliary operations. The initial production capacity that is targeted as the first phase of the production ramp-up must be capable of processing at least 120,000tpm of material from the Tailings, which the Board estimates will cost approximately US$11.0 million ('the Initial Project Funding'). The Board anticipates that the Initial Project Funding will likely be in the form of debt funding secured at the JV level.

In accordance with the terms of the Agreement, the Initial Project Funding, together with all necessary regulatory and government approvals that may be required in order to form the JV, must be in place by 30 April 2020. In the event that these conditions are not satisfied by 30 April 2020 and the JV Partners do not agree to extend the date, the Agreement shall fall away, the JV will not be established and the Katoro Loan Facility will become repayable immediately with accrued interest to Katoro by Blyvoor.

Pursuant to the Agreement, once all conditions have been satisfied (by no later than 30 April 2020, unless this date is mutually extended), the JV Partners will form the JV, which is intended to be an unincorporated JV held 50% by the Company and 50% by Blyvoor, on the basis that the Initial Project Funding is all debt financed. In the event that the Initial Project Funding includes an equity element from an external investor, the JV Partners interest in the JV will be reduced. The Agreement also includes customary dilution provisions in the event either party does not provide its proportion of any future funding requirements.

[grahamwales] 05/5/2021 20:01

From history I think Blyvoor is actually a loan up to £790k. Not sure how much the JV company has drawn down or in fact how it would be repaid.

[dros1] 05/5/2021 18:15

not sure it will be better when he is gone, do you know how much we paid for the asset?

[tonytony4] 05/5/2021 17:23

I just hope any placing is 1p and up or we will heavily diluted. Very difficult to swallow at the moment.

[grahamwales] 05/5/2021 17:16

Tony

The guy is a crook he gets support from those that take part in the placings and no doubt feeds them inside information. Example was the 1.5p warrants which we thought were cheap. Turns out they weren’t obviously got a tip off

[tonytony4] 05/5/2021 16:53

GW that is bit harsh. We all agree that he let shareholders down. Could we have a vote to have him step aside?

[grahamwales] 05/5/2021 16:36

The clowns next interview will interesting if he’s brave enough to actually do one.

With any luck he’ll catch COVID and die

[grahamwales] 05/5/2021 12:45

InTheMix

The fact that we have not heard anything regarding drilling in Tanzania suggests they are going for placing to cover costs. Hopefully once done we can see some upward movement. Keep your powder dry as they say and get more as close to placing price as you can. Lots of in lookers waiting in the wings

[inthemix] 05/5/2021 12:31

Does feel like they're accumulating for a placing. On its knees at moment is share price

[inthemix] 05/5/2021 09:38

Cant buy anymore till some clarity is shed.

[bigberty99] 05/5/2021 09:24

Lc strikes again

[grahamwales] 05/5/2021 09:13

Was hoping to see the clowns resignation announcement today he is an embarrassment and needs to go

[lurker5] 04/5/2021 17:21

Give me a day or two

[grahamwales] 04/5/2021 15:54

Can you post on here for me to look at

[lurker5] 04/5/2021 15:12

I'll work though the report which (surprise, surprise) isn't as clear as it should be.

[grahamwales] 04/5/2021 14:48

Lurker

What figures do you see

[lurker5] 04/5/2021 13:16

GW. Read the report. Figures far less than yours.

[grahamwales] 04/5/2021 13:14

Tony

To be honest I would be happier if they announced a placing to get the drilling done. At least then we would see a move up.

Think it’s inevitable now.

[tonytony4] 04/5/2021 12:40

Certainly feels like that GW.. price not moving higher considering this update! I just hope it's not a placing

[grahamwales] 04/5/2021 11:06

Looks like placing shares getting sold into this morning’s rise. So expecting 1p placing.

Crazy when last placing a 2p was oversubscribed by 38%. Just goes to show how inept the clown is, why didn’t he raise more at 2p instead of raising money now at half that.

He is completely out of his depth both as a chairman and ceo.

Just go Louis the clown and let someone else have a go they couldn’t be any worse that’s for sure.