Kennedy Venture Share Discussion Threads

[zeberdie] 07/8/2017 11:16

Posts on LSE but doesn't like sites that have users with multiple IDs...... Creased.

[grsl] 06/8/2017 21:44

This is my reply from earache to my question of whether her was OK with me copying his post here :-
GRSL

I don't do ADVFN, or anywhere else they openly allow multiple ID's, but you're welcome to copy over any of my placing posts you deem useful. And many thanks for asking. Most wouldn't have bothered. If only the KENV BoD matched your integrity. Thanks again.

To all those who say it will do no good, you may be right in that they'll find a way of getting the Resolutions passed but if you're so happy to be disenfranchised of your legal rights and can't be bothered to even register a protest against the contempt with which this BoD treats the PI's then heaven help us for the future. You're giving them Carte Blanche to raise at whatever price they like, as much dilution as they like, with as many warrants and options as they like for themselves and their buddies and to do it whenever and as often as they like over the next 15 months. And by allowing these Resolutions to go through there won't be a sodding thing you can do about it. You're freely giving them the tools with which to screw us. Crazy, muddle-headed thinking.

[grsl] 06/8/2017 21:38

This is the e-mail I have sent to the company and Capita Asset Services if anyone wants to copy and paste and do the same...........many thanks to earache for his excellent summary on Wed of which I copied and based this e-mail on.

I received my placing circular yesterday and would like to point out the following.

This is a GM, sometimes more accurately called an EGM when a company comes cap in hand for more money to the detriment of existing shareholders' investment.

The Circular that I received yesterday morning hxxp://www.kvplc.com/images/announcements/01082017%20-%20Circular.pdf sets out the detail of the Resolutions and the BoD's recommendation as to which way to vote. It would have been helpful, to say the least, if it had the Form of Proxy attached as stated (and as required by Law) to actually allow me to vote!

The figure of 5 days is crucially important and gives a clue as to the disdain with which the BoD dismisses me and all of its shareholders. By Law the Circular had to be out 14 calendar days before the GM and votes in 2 clear days before it. In choosing 9.30am on Weds 16th Aug as the GM date then, in effect, that allows only 8 working days to get all of the Proxy Forms by post to the Registrars, Capita, in Beckenham Kent by 9.30am on Mon 14th Aug. Just about doable if they'd handed out the bleeding forms! But it's worse than that. Giles Clarke has determined that Proxy Forms must be in by 9.30am on Thurs 10th Aug or our votes will be invalid !!! That gives us just 5 days.

So:
- 20M new shares have already been issued from the existing authority and that part of the Placing is due for Admission to Aim on 3rd Aug. That means £1.2m is already in the company coffers.
- The other 42.5M new shares, if approved, will be issued on a Non Pre-emptive basis and admitted to AIM on 13th Aug.
- Authority to issue and the basis of issue are, imo, co-dependent and are Special but they've split it into an Ordinary Res for the issue (>50% votes needed) and a Special Res for the basis (>75% needed) to help get the placing away. They only hold 13.56% themselves.
- An agreement by shareholders to waive their Pre-emptive Rights should last only until the next AGM when it can be re-affirmed by vote. This Res is for it to last 15 months!!

- If I don't vote then Giles Clarke will vote my holdings and other shareholders holdings in favour.
As a nominee holder I rang my broker to vote against all of the resolutions , but they were not aware of this.
I believe this to be illegal and request that this is cancelled / postponed immediately. I will be e-mailing the FSA and forwarding my complaints as above.

[qs99] 03/8/2017 08:07

well they have had their chance, now need to deliver....SP opening blue again today, so maybe people are taking advantage of the low price

[cloud9surfer] 02/8/2017 22:52

I personally feel that they (BOD's) were aware they would need to raise cash so an executive decision was taken to be limited with actual figures and info in RNS's to keep the share price low. This would make it easier to sell the placing shares with a lower risk to the new investors. Taking that on board, provided we don't need another cash raise, I would expect there to be a steady stream of positive news now in the lead up to year end.

[qs99] 02/8/2017 22:31

ah so I wasn't going mad! thanks Cloud9surfer top stuff, have now cancelled my booking with the doctor haha.

So they have deferred it by anywhere between 6-9 months. Not great, we need some interim updates me thinks....and please KENV if you do read these things (doubt it) let's get a bl$$dy proper / credible broker note out in the market for us all to understand the detail!!!

cheers

[cloud9surfer] 02/8/2017 22:28

The whole presentation is worth a read!

[cloud9surfer] 02/8/2017 22:10

Page 13 under summary.

[cloud9surfer] 02/8/2017 22:06

They estimate Lithium JORC for Q1 2018. It was written in a presentation that someone posted a link to last week. Unfortunately I did not save the link but it is on the website somewhere!

[qs99] 02/8/2017 21:59

mm sorry euclid I genuinely thought I read that in the RNS or maybe I was quoting from one of the other posts, apologies if wrong, as a big old chunk of my portfolio is in this stock I have a vested interest to be wrong haha! cheers

[euclid5] 02/8/2017 21:35

QS99 - where do they state JORC 1Q18 for the Lithium asset?

"MSA Group, Aftan's competent person, has advised additional Lithium and Tantalum core drilling to enhance ore body definition, increase Tantalum resource and life of mine and complete a Lithium JORC resource report"

[cloud9surfer] 02/8/2017 15:52

Defo oversold/revalue!! Mine is worth more than current mcap excluding produce!

[kmann] 02/8/2017 15:24

I bought some here earlier. Seems obvious this is the space to be in for the long term. tantalum a major component in electronic charge storeage. And lithium is obviously going to be the new gold+oil for the next 25 years if not more.

But whats most impressive is the quality of the ore.

BUY 25P

[qs99] 02/8/2017 15:02

Let's see if it can break through 7p today gla

[qs99] 02/8/2017 08:13

WRTMF, I agree, and Chairman needs to carry can for that and should probably go, or be given until Xmas to start delivering or go....hopefully Larry can lead from the front but as you say, they need to provide more clarity on numbers, potential JORC resource, production etc etc....at moment it is poor but buyers are returning in decent size it would appear so let's see how things unfold....DYOR and GLA

[a2584728] 01/8/2017 16:25

I have added 100k today

[qs99] 31/7/2017 12:53

has the selling rot stopped?

[qs99] 31/7/2017 08:15

yes but trouble is they said the JORC would be in end of June 17 now it is Q1 18....so credibility is waning no?

[wrtmf] 30/7/2017 10:32

prove it up and they will come knocking....

'This week a small Australian mining company sold a lithium prospect in west Africa to a Chinese buyer for $78m — or more than 2,000 times the amount it paid for the deposit just 11 months ago.'

[qs99] 29/7/2017 13:29

Yup, management seem to have led us up a garden path IMO....all this news promised this year, yet they have not delivered on that. Then do a placing at half the share price it was a few months ago. Look at SAT it managed a placing at or around current share price to fund acquisition, so if you have the story right and management then city will take a lower discount. Big discount from a month or so ago IMO says city are not enthralled with management. BUT who is to hold these muppets to account? PI's don't have enough sway.

Giles Clark needs to sort his expectation management out and actually begin to deliver against a timetable he has set, not push things further out and then raise money at a massive discount....likewise when are we going to get some hard numbers in the market to help solidify / justify market cap for instance? Any decent brokers putting numbers out? if not why not?

Reluctantly holding on here
GLA

[wrtmf] 27/7/2017 16:10

to be taken with how much salt?