Finally, we get a comment that swings the recent CR announcement...

Finally, we get a comment that swings the recent CR announcement towards a positive outcome. We all new the rumour that the CR news was coming. So why did our smart investors not take some profits like some key players on our top 20 shareholders list.
I did some recent analysis of the Top 20 Shareholders between December 2020 and end of May 2021.
JP Morgan sold 28M shares, BNP Paribas sold 26M shares and HSBC Custody nominees had a net sell off of 3M shares.

I recall the previous Share Purchase Plan offer in January 2019. I picked up close to 400,000 shares for $15K. Imagine what these companies picked up as Institutional investors. I am tipping they sold these shares over 20c and collected some handy profits while still staying committed.

Now we are about to be presented a new SPP offer. Why would Institutional Investors want to get involved in this project when the SP has dropped significantly and there is no new information. Or is there? Well maybe, Nigel is about to drop the news that the Mining Licence is going to be awarded by the DRC Govt. or the Optimised DFS has been produced (which I am certain this is what the Banks are waiting for) and that he intends to make this report available in the next week. If not this information, what chance of success do you think the current CR might have to achieve the minimum $35 M required if he was not to produce new information to attract new investors but rather have them rely on what we know and expect to be presented on our Financial position in the next Quarterly report which is due towards the end of July.
My only wish is the SPP is only available to current shareholders and any new information is to come is made available concurrent with the Share Plan offer. In this way Nigel could prevent a further sell off of shares, during the period the offer is available. As such non holders don't get to reap the benefits of a cheaper SP. The total volume of new shares is offset by the 15% increase Equity in the Mine and there is no SP dilution.

IMO Nigel and his team have been focused on closing the Offtakes and undoubtedly answering questions from the DRC Govt. in regards to the SEZ
and ML. These would be extremely difficult negotiations given Nigel can't be in the DRC due to Covid restrictions. I have a lot confidence the current SSP offer will be a great success and the new information that will soon be presented will launch this company to new levels of investor interest.
All IMO