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"Awaiting final approval to be called for the evaluation meeting by the EEC, expected to be received imminently, subject to COVID restrictions in Morocco."
We have discussed this before and there is no mention of permit in this sentence. Badly worded - agreed. The "imminently" (to a number of us) relates to a meeting and not the permit that is likely to follow. I see the approval as imminent for a meeting after which the permit may be granted (timescales not disclosed). I would not expect them to start releasing RNS's on meeting dates. If there is a concrete outcome such as a permit or some other agreement then I would expect a RNS.
All IMHO
Of course the date ‘should’ be released. It’s not market sensitive yet important to shareholders and probably in the public domain somewhere. Important milestones should be RNS’d. Unless EML think they’re on shaky ground permit wise, what god forsaken reason would they have to keep it to themselves?
I think the market needs something to get excited about here - there hasn't really been anything since 9 February when the mining licence was granted. EML knew it would be a quiet few months, hence the reason for all of the investor presentations in May and June to try and keep interest going during a quiet 2nd quarter. We are however now firmly in the third quarter - this is the quarter when finance is due to be tied up (reading the shareholder update which was released at the beginning of January). I expect there is room for some slippage here into the 4th quarter. Nevertheless there is quite a lot of news to be released between now and Christmas if early construction is due to start by then. I am hoping that everything is being lined up behing the scenes, ready to go once the environmental permit lands. We can therefore expect quite an interesting end to the year. If the environmental permit doesn't come in the next few weeks, I would expect an update from the company. The delay is probably purely Covid related, perhaps also the holiday season - there certainly wasn't any red flags raised in the initial stages. Hopefully any day now.
IMHO I do not think that it is covid related, and any day now has gone on for weeks. Then all of a sudden Rupert arrives ?
Oh... and incase anyone doesn't know , that's Rupert the DIPLOMAT by the way. Too much of a coincidence ?
Exactly. I always thought the EML board were quite scrupulous and to be fair, I largely still do. However, if there’s one thing that grates my nuts, is having the feeling that shareholders are the victims of ‘gaslighting’ by the BOD’s. Without one single doubt in my mind, Rupert was brought on board because of his dealings at the highest levels of Moroccan government. Since when would any company need someone like him on board if everything was tickety-boo? He’s certainly not here as window dressing.
Unhappy, I knew that was his name :)
Go to freelancer site and spend a flim or few on a Moroccan, ask them to obtain the date of the meeting? Save all this drama.
Whilst Rupert was brought on board partly because of his wide diplomatic experience in Morocco, I can confirm he was NOT brought on board because of any apparent delay in the ESIA. Come on guys, have a little common sense. NEDs are not appointed on a whim or overnight. They are months in the making.
I think the difficulty here is that, while these processes are undeniably bureaucratic, Graeme was “very confident”, verging on categoric that it would be done in Q2 a few months back and happy to say on lots of road shows.
Now its in its second month ‘late’ (if only by the timetable that he created) and there is dead public silence about it. The contrast is the problem.
If we start reading about the 3% plus exiting the company sure get worried? Graham, put out a bold statement and I’m sure that be his last? We just don’t know if the meeting was cancelled?
It seems that Emmersons Moto does not extend to its shareholders.
Let’s be clear Westie, you’re in no position to confirm or deny ANYTHING, on behalf of EML.
I agree that Rupert was not brought on board for the Environmental permit - this wouldn't be his area of expertise in my opinion anyway. Going back to the Hardman presentation on 12 May, Graham was very confident the permit would come later this month or early June. This is on the basis that no red flags were raised during the initial phases. We can add a bit of time to this due to Covid in my opinion and the difficulties of meeting face-to-face. However, I think the board have been asked to make certain changes to their ESIA paperwork. Hence the reason for a more significant delay. I look at the day in the life of Lahcen Alloubane on twitter and it says as follows: "preparation of amended reports to the water agency as part of the ESIA approval. Progress with intergration of the water pipeline in the ESIA package". Whilst we don't know when this was, I expect this may have something to do with it. I think the board have been advised to make a few changes, but in my opinion, the permit will come, just a bit later than expected. Hopefully by the end of this month.
Jinx - I like many others have regular contact with the Company. They have confirmed to me a while ago what I've previously mentioned. Take it or leave it, i'm just trying to help.
Makes - Many thanks for sharing and confirming what i'd posted earlier.
Mr Jinx - Let's be clear, I haven't confirmed or denied anything "on behalf of the company". You have quoted me incorrectly. Kindly get your facts right .
I must’ve misread this then, “ I can confirm he was NOT brought on board because of any apparent delay in the ESIA”
I appreciate that you’re passing on communication with the company in good faith. However, you should know by now that whatever information you receive, you’re in no position to testify to the accuracy of what they say. AIM is a complete **** house sometimes and just because we ‘believe’ a company is fantastic, it doesn’t always make it so.
Jinx you seem to be insinuating I’m some sort of agent of the company. You’re right though I did comment in good faith regarding the Joy issue. Makes did the same
It just seems this board has descended into a kindergarten name calling playground. Quite honestly I’m not interested in that sort of chat. There’s still some very decent posters but they’re thin on the ground.
Clearly my well intentioned earlier post was not wanted so I think I’ll call it a day on here. I’ll return when I can have a decent discussion
Well what a childish reply, Westie. Do what you feel is best.
Yes , and the worst offender is Gullible, still wearing shorts in the playground,
chisler
Hi Makes,
I don't know what you think about Rupert's role for Emmerson, but I have seen it suggested elsewhere that he might be involved in any high level negotiations relating to RNS No. 2586W on the 10th December 2019 .It goes without saying that the potential value of the possible Government subsidies would be worthy of employing his diplomatic skill set. I haven't spotted any mention that this negotiation has been completed as yet, but perhaps someone else has?
Nice comment OnlyOne. When the snipers are out picking on someone you can take that there be something good disturbing their insanity (include their personal life confusions ;).
Lol....so anyone who critiques EML has mental health issues? Wow, what a low-life you are.