Not sure if you are aware but on www.discussthemarket.com some joker is posting complete fiction on the mbw board using the same user name as you. Not sure if you care but I would hate for your name and good reputation to be associated with this. Maybe a quick post to scare the little tyke is appropriate.
The statement, to my knowledge is not in writing, it was made by Dekel in one of the many interviews he conducted at the start of this year, when he was trying (and it appears failing) to get the share price back up. At the time he did pulished interviews for Iball, and minsite, and a few others. Interestingly I just looked at their website as I assumed their would be a link on there to the interviews, but he-ho the chaart website has never been that good! I still stand by my original sentitment that if I was chinese and looking to invest in Chaart, I would just go to the open market and start buying shares, i think they will get a better deal for their money, and i think they could pick a large percentage before getting up to 50p a share, it would also help PI's like me. The chinese have already invested heavily in the area and so I would suggest they know the chances of Chaart getting the mine up and running by Q3 next year, as well as having a fairly good insiteinto the politcal situation. I see it as a positive move.
Step forward the Chinese. First up, Shandong Gold Mineral Resources, the third largest gold producer in China said that it has secured Chinese regulatory approval to make an investment into Chaarat. Discussions are underway but there is of course no guarantee of a deal. Chaarat has publicly stated that it would not issue equity at less than 50p so my guess is that SGMR is negotiating to take a state in the underlying operating asset. The amount Chaarat needs is pretty small beer ($20 million) and so when the Directors state publically that they “intend that any agreement will enhance long-term value for Chaarat shareholders” – this means that it is in a strong enough position not to be legged over by the Chinese
I take your point, (my understanding is) the legislation has been approved by government and is awaiting sign off. Earlier reports said it would be by the end of 2012. However the proposed legislation is in place and the proposed tax rate etc is not crippling to a project of this type. But I do not see a big rise coming when the legislation is approved. I think appetite for risk does not exisit in the current market place, people are looking for certainty. There are a whole host of things that could go wrong with this project (as they could with any new mine) and I agree that governemnt isues is one of those. However even if the legislation issigned, I am sure a new governement could just rip it up and start again. I think we will stay at these levels for some time yet. I am here for the long term, my holding is part of my SIPP andI intended to review the situation in Oct 2013 (when production should be commencing. I hope I am wrong and that the sp jumps if and when the legislation passes into law, but I still feel that this share is unlikely to move far before next summer and the real news starts to flow.
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