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Those that claim there be a delay final permit could any of you display where or when the Moroccan government issued a schedule to meet and then cancelled? Government has never issued a public date. People be wary of those whom mislead.
King Mohammed, only sets the agenda and instructs in what direction country should travel. We should build a motorway, here basis rather large underground potash supply. His ministers & civil servants then tasked getting on with the job.
Jinx, let us all know if anything else becomes twitchy (not).
If OCP, buy Belarusian potash where does the replacement come from if they be sanctioned?
I feel your pain Mr Jinx, I really do, and bad as it is suffering for yourself, if there is a family and friends element, then I'm surprised that you haven't gone into hiding. And yes you are completely correct about the King, he has the vision, sets the broad brush policy and then picks the senior people who will decide, but only at National level, not down to the regions. So yes we are seeing his vision enacted. On the subject of Chariot though, slightly different rules apply, as far as I am aware there isn't a regional aspect to offshore mining projects (unless they start onshore of course), plus Gas supplies in Morocco are currently a matter of National emergency since Algeria turned off the supply through Morocco, as I'm sure you are aware, hence it is being fast tracked at a National level - at least it is excellent news for one of your holdings. I do have a small confession though, as it appears I was wrong in thinking that the new regional assembly was avoiding taking decisions on high profile projects, as there has been one announced for our region, which no doubt was of higher profile, 'The new management of the council of the Rabat-Salé-Kenitra region clearly shows its ambition for the promotion of investment and the support of companies'. Reported on the 13/01/22 but a little hard to find:
Sorry I'm not a subscriber so you cannot read the story, but you can see that as investments go it trumps Khemisset, by providing investment for 6 new techno parks across the region. So like you I'm not guessing news tomorrow, but hopefully now we know the regional assembly is up and running, and with no heel dragging. Now I would have thought ours cannot be much further down the line, but personally I'm still happy with Shore Capital's estimate of Q1 2022, obviously though I would be much happier with tomorrow - with or without unicorns. ;o)
Nope, still here, waiting patiently OOSM. This has been my No1 recommendation to family and friends for the past two Christmas’. They’ve certainly made money but I know some have lost interest and put their money elsewhere. I appreciate p.i’s are merely an unfortunate circumstance for most BoD’s but we should still have an update that’s more than, “yup, we’re still waiting for the permit”. Tell us why we’re still waiting. And no, it’s not because the King makes all the decisions. I’m also in Chariot Oil and Gas who are also based in Morocco and with licences in Rabat. They’ve organised a deep sea drill with the ministry of mines, drilled it, and plugged it for potential near future production, in the same time we’ve waited for this environmental permit. Someone is dragging their heels on this project and to say delays are down to Covid, new government, the King is busy, or indeed there really are magical fields for unicorns, really doesn’t wash. Now I’ve said my piece, we’ll probably get the permit tomorrow…or probably not.
"The Environmental and Social Impact Assessment ('ESIA') submission is awaiting the final approval and the Company has completed various submissions to government agencies including the water authority, l'Agence du Bassin Hydraulique de Sebou, Regional Department of Environment, Regional Department of Forestry, and Regional Centre of Investment, as well as the public enquiry process with no objections and full support from local stakeholders." The above paragraph was in the 31st December newsletter less than 3 weeks ago. It could hardly be more clear that all is perfectly well and the EIA could land any day. You can see that the enquiry process was without any objections AND that there was full support from local stakeholders, what more do you actually want. It is unreasonable to expect the company to give an update every month.
They’ll now have to transport the potash to St Peterbourlgh and give they sold potash at approximate $200 a ton a rock bottom price, I doubt be making much profit nor likely sell that cheap ever again?
If we could just have our mine and a few years of very high prices, pay down the debt, spin off all those additional companies this should be a huge company?
Your bluntness chisel dear chap wouldn’t understand a point.
What quantity of aliases are you posting from this month?
China hoarding food such as grain. China ever turns its vast lands into food production then one or two commodities connected to EML, is surely going to remain at a high price? https://www.youtube.com/watch?v=EOQtp5Xj29M
Take a few minutes on the Tlou, board, Botswana. They had to tender only find some fantasy company put in a bid & that company had no gas, no land if I recall. The tender process got cancelled and both resubmitted bids.
There is a list of companies out there gone to wall based on maladministration & we don’t view that in Morocco.
Worst case is after Ramadan & covid could make that happen. Best not put your fast money here then?
At least the mine does progress they are far aware not held back. Few tweets of the works wouldn’t go a miss?
A four month delay is certainly not unheard of in routine local government decision making. My last company, in a country with almost the same gdp per capita as Morocco, is dependent on local government contracts being awarded every year and expiring 31 December. Generally the renewal process would be completed in March or April and the majority of remote communities would have no public transport for that time because of it. Not sure if this is a fair comparison but that’s my experience with government, luckily government is very straight-forward and decision making is always fast here in the UK. ??
Once again audible who post your opinion as to if fact-based you just like the rest of the group of PI in this company does not have a CLUE on why there is a delay in the granting of a permit. your post now says it's covid but you have been peddling new govt and a bit of Ramadan thrown in for good measure, your latest titbit is a new motorway getting built nearby.I will give you some facts not pull out a bag of excuses and clues you like to peddle. The kingdom of Morrocco has been investing in its road infrastructure since the early 2000s and has the best road network on the continent and has been committed to spending $9.6 billion dollars by 2030 with the creation of 2100 miles of motorway and 1300miles of secondary highways this was long before Emmerson was even a pipedream. if you are going to post at least do a little research and have it fact-based before trying to belittle other investors for having the temerity to even ask the simple question of why the delay. Your posts will hold more validity and gravitas going forward. Have a nice weekend and hopefully some good news sooner rather than later. PS .. Please don't post next week that if Morrocco wins the African nation cup in football next few weeks that will delay the permit even further as the King with grant national holiday until march. lol.