RE:RE:RE:RE:RE:RE:RE:RE:Cash Flow and Income Tax LiabilityMost of us longs are fed up with the antics of both companies.
The problems presently lie in resolving an AGM for fancamp in order to replace the board with likeminded and clear a path for KWG/CCC to move forward with Koper and Magpie.
I am not as familiar with the KWG story except that Frank Smeenk has been trying to make something magical happen in the ROF for a very longtime and do remember the mining minutes bikini episodes which was a publicity stunt that surprised a lot of people.
Smeenk has capitalized and created a huge debt load with FNC in the last year putting KWG into an arguable position. The claims he acquired for Koper come with a big price tag. If he can get a deal done with Fancamp to buyout or merge, not at shareholders expense but at shareholders gain, then we would be off to the races.
The hard truth from what I see though, is Fancamp would come with enormous caveats for KWG and probably FNC shareholders too. As a reminder, the EDM, then Scozinc plan of arrangement would have robbed FNC shareholders of 45% of their equity back in 2021. Thanks to Smith and the green team for stopping that lump of coal ending up in our shopping bags.
Maybe a proxy battle is the answer. We will have to wait and wait and wait to see what or who comes next.
Elon?