Katoro Gold Share Discussion Threads

[grahamwales] 15/12/2021 10:57

LC knew exactly what he was doing in KAT and the other companies he is involved in. If this wasn’t on AIM it would be classed as pyramid selling. Promise of riches but only to the one at the top.

[grahamwales] 15/12/2021 10:55

Yaki small amount now and getting smaller.

[lurker5] 15/12/2021 10:27

Yaki I've never thought LC was a crook either. Just a Walter Mitty with no idea how to do the sums on projects with which he was clearly out of his depth. Even if he is innumerate, that doesn't alter that he lied on numbers of occasions through cherry picking various statistics from his projects' economics which he would have known were out of context and therefore misleading. Your 'character' judgement has never extended to noticing his innumeracy, and therefore his unfitness to lead projcts that are both complex technically, and complex to manage financially. All in All my charcterisation of him as a mixture of Walter Mitty and Pinocchio is correct. As for Robert Maxwell, although he turned out to be a crook, I think he kept kidding himself that the funds he looted from his companies pension funds would turn out right in the end. So still a similarity there.

[deanmatlazin] 15/12/2021 10:23

Am watching from sideline. Lucky i didnt buy any shares yet. The only way to gain back shareholder value is by having EGM and remove LC. Otherwise he will rinse and repeat and the share price sill be worthless. Less than the value of toilet tissue.

[yaki] 15/12/2021 10:19

gw

Out of Interest - do you still hold?

[yaki] 15/12/2021 10:18

gw
agreed.
But he could argue - all is in the rns - so nothing new to report

He said 10 days ago
"...The Company is at the moment considering its position and options in this matter and will update the market accordingly as soon as a decision has been taken on an appropriate course of action."


grahamwales 15 Dec '21 - 10:07 - 3386 of 3386

Yaki

In which case LC should clarify ASAP. One way or the other needs to be announced where KAT stand in all of this.

[grahamwales] 15/12/2021 10:07

Yaki

In which case LC should clarify ASAP. One way or the other needs to be announced where KAT stand in all of this.

[grahamwales] 15/12/2021 09:57

We haven’t seen the terms of the JV. If as what looks like to be true there was a time limit to purchase the tailings and not honoured then the JV is null and void. Therefore no longer exists.

[yaki] 15/12/2021 09:54

There is a JV with BGO - the company that owns the tailings and is being sold. Who owns the co - Target, Blyvoor Gold or PAF - shouldn't matter as the JV will need to be honoured.

As any legal contract


grahamwales 15 Dec '21 - 09:46 - 3380 of 3381

Yaki

There is no JV anymore.

[grahamwales] 15/12/2021 09:46

Yaki

There is no JV anymore.

[browngirl] 15/12/2021 09:44

agreed he is a buffoon

[grahamwales] 15/12/2021 09:41

Yaki

If not a crook then at best one of the worst CEO’s on AIM. He is responsible for looking after shareholder funds and making sure they are not misused. He has failed yet remains and collecting a salary that he or other directors do not deserve.

He has given away over £1 million to a company that no longer exist.

Spent money drilling on a project that KAT have no rights.

As far as I’m concerned he has stolen our money to invest in a project that we have no rights over.


Completely incompetent.

[lurker5] 15/12/2021 09:27

Shareholders who've lost here should ask Si Capital (broker who raised the tailings study cash) for an explanation.

[grahamwales] 15/12/2021 09:24

Now we know why the so called JV was not incorporated.

[grahamwales] 15/12/2021 09:19

Yaki

The JV failed as Target did not get ownership of the tailings therefore there is no JV any longer.

[lurker5] 15/12/2021 09:18

PAF only paying $6.9m. How does that compare with what Kat was to pay ? Target/Skeat said it wasn't selling to KAT & Co because it hadn't come up wth the cash. Sorry don't have time to look up the details, but seems strange that for the loss of such a small nail, the whole of Kat's Kingdom was lost. There's something not quite adding up here (speaking figuratively)

[yaki] 15/12/2021 09:11

gw
BGO owner of the tailings and owned by Blyvoor Gold was meant to be bought by Target and looks like they failed!

KAT JV is with BGO and not Target. SO whoever buys BGO from BG - need to respect the legal contract that the JV is and all its conditions

Interestingly:
price is lower - 110m vs 140m offered by KAT
timelines longer - end of Dec 2022 vs q1 2022



grahamwales 15 Dec '21 - 08:55 - 3369 of 3369

Yaki

KAT don’t have any rights Blyvoor tailings is being sold eb bloc to PAF.

Have you not seen their announcement. LC had clearly not done his job by doing DD on Target Mining and should therefore be held accountable for misuse of shareholder funds.

[grahamwales] 15/12/2021 08:55

Yaki

KAT don’t have any rights Blyvoor tailings is being sold eb bloc to PAF.

Have you not seen their announcement. LC had clearly not done his job by doing DD on Target Mining and should therefore be held accountable for misuse of shareholder funds.

[yaki] 15/12/2021 08:33

gw

KAT JV is with Blyvoor Gold Operations which is the co that owns the tailings and is being sold. SO in a way shouldn't matter who the owner is - Blyvoor, new entity - they still need to respect the legal contract!

Interesting that the lower price by 25% and the way longer timelines that KAT offered.

Maybe new guys can buy out KAT's rights at x times what was spent ?!?

Let's see

grahamwales 15 Dec '21 - 07:51 - 3365 of 3367

Looks like another company buying tailings.

LC is a fraudster

grahamwales 15 Dec '21 - 07:59 - 3366 of 3367

They are e en using the mineral report paid for by KAT ffs

grahamwales 15 Dec '21 - 08:02 - 3367 of 3367

Paid for by us I mean

[grahamwales] 15/12/2021 08:02

Paid for by us I mean