Kore Potash Share Discussion Threads

[akmal101] 14/6/2019 08:06

Does no one realise the fact that they will have $13 million dollars

[the deacon] 14/6/2019 08:02

1.6p. Ouch

[john henry] 13/6/2019 21:58

KP2 has been a shambles, massive dilution from original IPO

[aidenabettin] 13/6/2019 18:42

Everyone knew it was coming as the company announced it last year but that didn't deter the usual pump n dump gang with their comparisons to the market cap of Sirius. As always I was shouted down as a troll

[the deacon] 13/6/2019 17:06

Was always on the cards. They'll be lucky to raise $13m at 1.75p.

[barnetpeter] 13/6/2019 17:01

A huge dilution here. Only got a small freeroll here after that big spike. Down to 1.5 ish I guess.

[whoppy] 13/6/2019 16:55

That will be 560m shares at 2p. 65% dilution.

[barnetpeter] 13/6/2019 16:55

Highlights

-- The Company intends to raise approximately US$13 million in the Proposed Fundraise.
-- The conditional Placing is being conducted via an accelerated bookbuild expected to close no later than 14 June 2019. The accelerated bookbuild will be launched immediately following this announcement and the Placing is subject to the terms and conditions set out in the appendix to this announcement.

-- The Company has received indications from a number of its largest existing shareholders that they will participate in the Proposed Fundraise.

-- Mr David Hathorn, Chairman of the Company (through a trust of which he is a beneficiary), and Mr Bradley Sampson, CEO of Kore Potash, have each indicated they will also participate in the Proposed Fundraise.

[aidenabettin] 13/6/2019 16:49

Raising $13M

[aidenabettin] 05/6/2019 07:41

hTTps://www.africanagronomix.com/potassium-1

[apfindley] 29/4/2019 07:56

NVP10 value a lot lower than I expected it would be, so reduces the upside to the shareprice considerably, when noting the initial capex.

[bloewillblow1] 24/4/2019 12:31

Profit banked and into BLOE

[newtothisgame3] 24/4/2019 10:23

looking hot

[newtothisgame3] 24/4/2019 10:23

looking hot

[the deacon] 24/4/2019 10:22

The need for a placing was already well known. It was again reiterated by the board in the results. The question is, why had the ASX price risen so strongly, even though the capital raise is expected. It's an arbitrage that could be taken advantage of. Conversely, if the ASX drops like a stone in the next few sessions then some could easily be left holding the baby. Play safe folks...

[apfindley] 24/4/2019 09:49

 --During the year ended 31 December 2018, the Group incurred a loss of USD 6.3 million and experienced net cash outflows from operating and investing activities of USD 23.1 million. Cash and cash equivalents totalled USD 6.2 million as at 31 December 2018.

[apfindley] 24/4/2019 09:48

- Accordingly the Directors have resolved to undertake certain mitigating actions including a capital raise in the second quarter of 2019. The Company has begun discussions with its major shareholders with regards to its near and mid-term funding requirements.

[apfindley] 24/4/2019 09:47

Yes the rns clearly stated that about a fundraise , which was part of the reason for the big drop a few weeks ago. They do need a lot of cash to move this forward.

[the deacon] 24/4/2019 09:46

Looks like any fundraise will be nearer the ASX price, led by Aussie funds and Investors

[pre] 24/4/2019 09:46

looks like your right Akmal101 as found this extract from 29/3/19 rns:


The Directors have prepared a cash flow forecast for the period ending 31 December 2020, which indicates that the Group will not have sufficient liquidity to meet its working capital requirements to the end of the going concern period, primarily being corporate costs, exploration expenditure, and DFS costs related to the Kola Project. Please refer to the Note 1 to the financial statements for more detail on the going concern statement.

Accordingly the Directors have resolved to undertake certain mitigating actions including a capital raise in the second quarter of 2019. The Company has begun discussions with its major shareholders with regards to its near and mid-term funding requirements.

[akmal101] 24/4/2019 09:34

Im pretty sure the last rns said fund raise in q2? Can someone confirm?

[pre] 24/4/2019 09:29

done really well as around 1.60p several days ago...are we expecting a fund raise Akmal101 ??

[akmal101] 24/4/2019 09:20

Isnt there a placing to be expected??