Here are my thoughts on the takeover offer by Kobold. As a long-term shareholder since December 2016, I've experienced the ups and downs alongside the company—riding the high to 36c, watching it drop to 4c, and then seeing it rise again to 1.36c. Throughout all these fluctuations, we’ve remained steadfast in our belief in the potential of renewable energy and its ability to help shape a better future for the world.
That said, I cannot accept anything less than $3.50 per share in this deal. I also question why Kobold would be willing to give away control of the north. To my understanding, the situation is still pending with both ICC and ICDIS. As far as I’m concerned, the north is not theirs to offer, as it hasn’t been fully settled yet. If Zijin intends to retain control over the north, they must pay a fair and equitable price for it—nothing less. The value of these assets should be fully recognised, and we, as shareholders, deserve fair compensation in exchange for giving up our stake.
We find ourselves in an incredibly strong position, with only 70 days remaining until the ICDIS. This is a critical point in time, especially given the strategic nature of the mineral resources we control. Given the high demand for such minerals, and the central role they will play in the future of renewable energy, it’s perplexing and concerning to see any move toward undervaluing these assets.
With the Democratic Republic of the Congo (DRC) positioning itself to attract more Western investment, it seems counterproductive—if not outright misguided—that we would be considering selling ourselves cheaply. The global shift toward renewable energy is accelerating, and the minerals we possess are crucial to this transformation. Why, then, would we let such a valuable resource sit idle or be handed away at a bargain price?
Nigel, as the decision-maker, is sitting with a winning hand of cards. Our position is strong, and our resource is of the highest quality. The strategic importance of this mineral to the future of renewable energy cannot be overstated. The world’s increasing demand for these minerals, combined with the DRC’s focus on attracting Western investors, puts us in a position of power. We have the leverage to negotiate a deal that reflects the true value of these assets.
If anything, we are where we are today precisely because of the exceptional quality of our resource, and it’s this value that should guide any discussions about its future. Selling ourselves short now would be a missed opportunity, one that could have far-reaching consequences for shareholders, for the company, and for the role we can play in driving the renewable energy revolution. We must stand firm and demand a fair price that reflects both the strategic importance of what we hold and the substantial value that is yet to be realised.
From what I’ve gathered, Kobold is moving quickly in response to recent news coverage from outlets like Australian Financial Review and Bloomberg. The buzz around our strategic position, combined with the potential for these minerals in the renewable energy sector, is clearly catching attention. Kobold’s urgency reflects the value of what we hold, but it’s important to remember that we should not be selling ourselves short in the process.
As I’ve said before, we shouldn’t accept anything less than $3.50 per share. This is not a time to settle for less, especially when our resource is so critical to the future of renewable energy. We are in a prime position, with major players like Kobold showing interest, and we must ensure that the price we accept reflects the true worth of our company and its assets. We’ve endured the highs and lows of the market, and now is the time for us to capitalise on the long-term potential of our investment. Anything less than $3.50 per share would be an undervaluation of what we have built and the opportunities that lie ahead.
It’s also important to recognise the emotional toll this journey has taken on many shareholders. Many of us have suffered significant mental and emotional strain, and even relationship challenges, due to the uncertainty and volatility of our investments. However, we have carried on because we truly believed that, in the end, there would be justice—that our patience and dedication would be rewarded.
If Zijin manages to acquire the north without paying a fair price for it, then it would be a clear violation of that sense of justice. It would send a message that shareholders, who have endured so much over the years, are not valued or respected. For those of us who have stuck with this company through thick and thin, this is not just about financial compensation—it’s about fairness. If we allow Zijin to take control of such a valuable asset without proper payment, it undermines the very principles of equity and fairness that we believed would guide this process. $3.5 and nothing less!
Anyone who believes we should accept the current offer or risk walking away with $0 is kidding themselves. The situation is far more complex, and there’s too much at stake. The DRC cannot afford to let this resource sit idle—it’s far too valuable. No reputable company would consider investing in this resource without the proper fines being paid and the outstanding issues with ICC and ICDIS being resolved first.
The DRC’s ability to attract Western investment hinges on addressing these concerns, and no serious player would move forward without that clarity and resolution. We are in a strong position, and it's crucial that we demand a fair price. The risks of accepting a lowball offer far outweigh any potential short-term gain, and we cannot afford to let this opportunity slip away for anything less than its true worth. This is the moment for us to secure a fair deal that reflects the strategic value of our holdings and the long-term potential they offer.
