Hi Wilma
I hear you.
One of my bug bears with forums is that too often they become Love/hate the stock and that any genuinely sensible questions as to the company's lack of feedback or progress has your motives being questioned. You must be trying to push the SP down for a reason . The reality is that it is absolutely legitimate to question every bit of communication that comes from a company...and every bit of communication that seems to not be coming from a company. Put simply, I am ecstatic that there are people starting to ask the hard questions. Exec absolutely read HC.
I myself have wondered numerous things.
Why has not a single company (not just KNL) operating in Tanzania mentioned the 16% free carry. Whats the big deal...why stay silent.....all companies in Tanzania were already smashed when the new legislation 1st came out and any recovery is since then has been based on new news (In our case EcoGraf) not the fact that this issue has been settled. So if we have already paid the price for this...then where is the news??? Any news ...any update on this aspect of the legislation that is now nearly 1.5 years old???
Anyway have a look at this list...
- Ecograf can use the fines. Some financials to go with this. When will the finacials be released. For all we know it isn't even viable. Lets assume by the tone of the related announcement that it is but WHEN can we expect financials?
- Signing up supply agreements for 3rd party feed-stock to EcoGraf pilot/plants. If you can tell us the names of companies taking our graphite before we have a mine, why can't we know who we are sourcing 3rd party graphite from to feed the as yet to be built EcoGraf plants?
- Partner detail & Funding for EcoGraf plants....yes plants...as it has been noted the use of the plural plants. Assume Germany EcoGraf plant and potentially Korea ( otherwise why the recent photos of all Exec in photo in Korea with Tanzanian and Korean officials). Again..sure they are commercial negotiations but management have been throwing hints in announcements for a while. If you can name KfW as our banking partner before we have finance in place why can't you name our Ecograf plant partners before the negotiations are finalized. At some point you are going to name them..or is the plan to do another "European Graphite trader" and not name the partners. And we want details of the German and the Korean plant partners...otherwise we want an explanation why the Board was in Korea months and months and months ago.
- KfW finance approval with details if finance is still for 40m? Plus details of the arrangements for remaining capital requirements. I wonder if KfW is increasing their involvement, noting in the last presentation Nedbank was left off but EFIC logo was still there. So who is making up for the funds that Nedbank were putting in? They are clearly out. Is it EFIC or is it KfW? Are the negotiations really that fickle that giving us any details will kill the deal?
- I also note that apparently all KfW was waiting on was the ML extension so announcement on this can't be more than 6 weeks off assuming a 6-8 week finalisation processSo where is the deal up to with KfW? As in give us a date...when is KfW expected to get back and share with us the outcome of the finance application?
- GGG update as part of Fiance update. Detail...has it gone forwartd..when is it expected?
- Sales agreements for 3000t of Battery grade from pilot plant. Again...in a gloabl market desperate for battery grade...who is taking the 3000t that our pilot is producing...that is worth a pretty penny...surely someone is interested in it. WHO?
- Tanzania free carry arrangements...yeah ummm is Tanzania actually going to happen....some news on this front would be nice....or are we going to finance and run the mne before we sort this minor detail out.
- Tanzania mine preparation progress. What the go?
- Tanzania SEZ licence...Yep...remember you put in a submission...and its ok to tell us that it will be another 3 months before they get us an answer...but simply no answer is not on.
- Epanko Tanzania downstream optimisation plant...remember that. Anything? Anyone? Anytime soon?
- Staffing details Tanzania, Germany and Australia .. .new people and senior/management positions that have been created and filled to manage this spectrum of developments across multiple countries and continents? Seriously if Spinks is trying to do all this himself no wonder we are still waiting on a lot of updates.....who is doing the work internally?
- Upgraded NPVs for Mine with downstream and Epanko with both multiple plants, multiple feed-stock and use of fines. wasn't that a necessity too...of the banks?
So ...I for one hear you loud and clear Wilma...to much information still in the vault.
The last few weeks price rises are great but have been in anticipation of these questions FINALLY getting answered. ..and no doubt when they are the SP growth will be incredible.
But seriously...its actual news time and perfectly legit to put the question to management and to a forum.
564xxl
