Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Just to confirm aerial, do you believe that covid was the only reason to suspend production and thus handover couldn't proceed? Or is covid ONE of the reasons why production was suspended and thus handover couldn't proceed?
So you're saying handover couldn't proceed because production was suspended?
There’s is no argument, it’s quite clear. The stand down and suspension of production as a result of covid-19 is unambiguous, and as a consequence the handover couldn’t proceed.
Aerial, it's unlike you to give a selected response in order to support your arguement!
Aerial
"So which is it? Delay in handover due to Covid or delay until this magic 3000t is reached?Or perhaps delay due to elections and work permits?"
Although I'm still not convinced by the Operational Updates and notably the differences regarding ILTL in the RNS of 24 June and the one of 15 January.
In January....expected handover in February.
In June...no mention of handover but "The status of the agreement with Infrastructure and Logistics Tanzania Limited ("ILTL"), as announced on 8 June 2020, will be reviewed once production rates at Rukwa exceed 3000 tonnes per month."
Then in 29 June with our Annual results..."The expected handover of operations under these contracts has been delayed due to the Covid-19 pandemic."
So which is it? Delay in handover due to Covid or delay until this magic 3000t is reached?Or perhaps delay due to elections and work permits?
It's mixed messages which, given our PR track record, comes across as continued excuses. It's a sure fire way to build trust in the market. And perhaps that is exactly why we have next to no volume.
We do need an update, although I worry we may have to wait until interims in September for post period updates. I genuinely hope I'm wrong and we can get something positive to move the share price on a bit.
Sausage has the ability to see things others don’t, but seemingly missed Covid-19 which we know (most of us that is) that the pandemic is the unequivocal reason it the handover didn’t happen.
Not unusually your ignorance and negativity shines through !!
————————————————
As RNS’ed 7th April 2020
Paraphrased re Covid-19:
“Edenville has elected to stand down Rukwa employees and suspend production with immediate effect until the situation is resolved”
Alistair Muir, CEO of Edenville, commented:
"As with much of the world, our operations have naturally been impacted by the rapid spread of COVID-19. Our principal focus must always be on the safety of our employees, as well as the moral obligation to do what we can to reduce the spread of the virus. …
The delay with ILTL has been given an explanation in a RNS, which will be as much as you will get, so little point harping on about it.
The 3k tonnes pm condition I would guess is so that ILTL can continue without any delay in production and just slot their personnel into place.
3k tonnes pm should not present a problem if as they say everything is in place to build up to the full capacity of the washer. That is what we will find out in due course.
Is an 11 month delay part of the master plan??
Mastery is still to be proven.
But I'll take a plan, though, if one's going!
Teaye72
I’d guess much is built in, and think the consolidation was absolutely correct. Hopefully all part of the master plan !!
....the price holds.
Positive, IMHO.