If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Fair play Alfe not often you see people big enough on these boards to say 'I stand corrected'. It's still not a great situation but I'm as certain as you can be the issue is with the third party transaction. We'll see, it will be a nervous wait to see who the new Nomad will be and the bashers will no doubt use the opportunity to have their sport.
I stand corrected. Seems like a good development then overall - with the only potential negative on that positive RNS a non-issue.
As an aside, it seems like one of the contacts of the Nomad (Katy Mitchell), is going to do a part time Masters in mining in Exeter? Not sure if that shifted their decision to terminate as Nomad, especially if W H Ireland do not have enough people of expertise to continue serving + they anticipate more work as discussions continue at EUA with other parties?
No Alfe they can resign with immediate effect if they so wish and then the one month rule kicks in. I think it's to do with the related party transaction for which they were partly fallible so they have agreed to work with us to the end of this month, looks fairly cordial to me.
As mentioned, it's in the RNS. EUA flouted AIM rule 13, and with WH Ireland downsizing, their risk appetite might not be as large to deal with EUA (which as we already know, are absolutely absymal in their communications).
I don't see the Nomad resignation as a value judgement per se. Would EUA write that they're close to appointing a Nomad if it wasn't the case? I'm sure WH Ireland (as the current Nomad) still has a right of duty to ensure that false declarations are not in the RNS especially on something that they should be in the know about.
you for real
I believe it's part of the Nomad's duties, even in resignation, to ensure handover, to the new Nomad (if it exists). They have to give effective notice as well.
Good morning all,
For what it's worth, my take on the Nomad situation is this; if WH Ireland were calling foul they would have quit immediately and walked away, they wouldn't be hanging about for a handover.
Take a deep breath...
I have absolutely no issue with this update.
Actually rather pleased. Feel a lot more settled than I have been in recent weeks.
Monchetundra sounds like a done deal, which is stunning.
Roll on the next few weeks.
Lockdown sickness gripping many
I wonder if the WH Ireland resignation is partly an admission of a failing on their part - "A Nomad is responsible for advising and guiding a company on its responsibilities in relation to its admission to AIM as well as its continuing obligations once on market". When a Nomad is unhappy with the actions of a company it would normally resign with immediate effect. Giving EUA notice is a good sign in my opinion and suggests there is joint responsibility for the related party error.
Looks good tome.
Flanks licence approved.
Advanced discussions with new nomad.
Africas shut and got a junk rating.
Money for a year.
All new equipments arrived
Mine operating through covid due to distancing
Still discussing a sale.
Job done. Still waiting but no reason to keep the suspension once the new nomads in place.
Chill out guys. I think if we were going to de list then I don’t think the company would’ve added ‘advanced discussions’ into the wording. They have to put the caveat about the aim rule about de listing if no nomad appointed, standard stuff. Relax
"The Board believes that the appointment of the new Nomad will take place before the WH Ireland notice period expires."
We still need to trust the BOD and hope that they get the deal through.
I think you are right Peterfal .
EVERYTHING is dependent upon us getting a new Nomad within 3 weeks.
Seems to imply that if new nomad in place by 30th, suspension will lift and presumably at that point. we will mine it ourselves whilst continuing to proceed with sale talks. Thats the way I see it. Worrying times though in many ways.