Robopro
In a nut shell right now.
1) UPS loan is a done deal. Final gurantee was supposed to be issued by Access Bank on Monday of this week. I have confirmed this with Acees Bank and with XKEM.
Now, what does this mean? I am assuming that once the guarantee is received by UPS, they will be able to turn around a final document in a couple of days. I believe XKEM will wait until the final agreement is done to PR. Not, just that the gurantees have been put in place.
2) My DD tells me that NEXIM criteria were all met as of January 26. So, I have been sitting here waiting for it to fund. Perhaps it has, or perhaps they gave Pandey an exact date, which is why Feb 24 was outlined in the Alembic extension.
We all know that Bassu and his group have alos been trying to inject $3M into the company by way of a convertible loan. The status of this is very much up in the air. I will let mets update if he wishes, as this is his deal.
The interesting situation, is that everything in Nigeria is moving along on schedule. I have mentioned before that the contractors have continued the consturction dispite the funding delays. I can get into why in more detail off-line. They have been working on credit, and XKEM now owes them a signficant amount of money. But, construction is on schedule. The pictures will blow many here away. God knows when the hell they are going to post them on the web-site.
As far as the trading. It all makes sence to me. The volume has been very low, and many have waited such a long time. Some patince has run a little thin. Considering the little decline late yesterday was on less than 5M shares, when our float is 1.5B, we do not have much to be concerned with. Most shares apear to be in some good hands. Also, looking at L2 indicates to me that games are definately being played as SBSH and NITE seem to be working together - possibly some kind of transfer of MMM.
I hope this helps buddy.
AI
