"Their firm intention is to seek a cornerstone investor who comes on board via on market purchases to take up 5%-10%. My personal view is that this is more likely to start once the Merelani deal and subsequent additional Epanko off-take is agreed, as the company will be a lot further de-risked."
Pav would not be surprised if the "on market purchases" have begun hence the price action of late. Certainly looks like someone is happy for the price to be where it is.
KNL Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
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