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It just confirms to me anyway that my prediction for the end of December might be be nearer the mark than first thought months ago, oh well here`s to the best xmas present we have ever had.
Patience is the key here - we've been through Covid which obviously has caused delays.
BOD want best possible Deal - so I'm happy to wait, don't forget they have been in this for many more years then you or i.
They obviously can't say too much what's going on as there are probably strong NDA's in force.
Received an email - Look at these pictures taken from space etc - all due to a lack of info from the company
Yes James, as you say if we do not get an RNS today stating that an extension has been sought and granted it would be disappointing, but these are unprecedented times and I do not know if a company in the middle of a communication lockdown is obliged to inform the market of the simple matter of an easily granted COVID filing extension when it is clear for all to see at companies house. I honestly don't know, so just an assumption?
On the second point "hoping to settle our anxiety by the later half of 2020" Is that not just the same as saying in the second half of 2020, so any time starting from the 2nd July?
I'm not disagreeing with you, just trying to give some balance to this whole state of affairs as we are all guessing at the moment.
Still, several hours to go...
in russia , imagine slow and the then very slow and then double that ,and you will get the picture everyone will want something to go faster , as long as the right result is achieved
exactly confirmed but not official and not signed , with the licence being in russia ,it is never straight forward easily withdrawn until signed , so they are not playing there cards until they know it is official ,
So how long does it take to execute a 'formal' issue of license for Gawd's sake ?? Certainly not 6 months.
they already have it. They're just waiting on the formal license to be issued to them.
Flanks have been confirmed, they were just waiting for the license to be issued -
"MONCHETUNDRA
As previously announced the application for the Flanks areas at Monchetundra received Ministry of Defence approval (see RNS dated 17 December 2019). Approval by the Federal Security Service (FSB), the last remaining federal body, whose approval is required for the flanks licence application, was also subsequently confirmed to the Company by Sevzapnedra. The Directors expect the license to be issued by Sevzapnedra soon as per standard process."
GLA
Agree, final approval from SevZapNedra, the regional licensing body is the key IMO
until the flanks are confirmed and signed , the excuses will continue , and no one knows when even eua ,so its a case of waiting ,,,,
As per the email "....hoping to settle our anxiety by the later half of 2020..."
This clearly sound to me like the back end of Q4 which is disappointing. From that email, it's clear that the company had no intention of issuing their Annual report by today. This decision would have been taken some time ago, so I am also perplexed as to why the company have not previously advised it's shareholders through official channels, especially as they are " hoping to settle our anxiety".
The way I see it now, I've held on so long already since February that I can wait a tiny bit longer, we should be on the home stretch now.
Personally I have a lot of empathy for the company. I have been trying to buy a property during lockdown and it's been a nightmare. With accountants and solicitors 'working from home ' and surveyors refusing to survey, despite the property being empty. It's been 5 months now and still will be completing 'shortly'.
I can't imagine the hoops EUA have had to jump through.
There, rant over, had to get it off my chest.
Sure I'll feel much better when I step ashore on Treasure island.
GLA
I don't have any concerns. Why would I email? What's the rush folks? I trust the board to get the best deal possible.
G-Man - just sent an email.
Received the same e-mail response this morning fron EUA.
very encouraging !
gla lth .
It's very poor communications with us shareholders.
Maybe everyone else should email them their concerns and try to force their hand in to putting out an RNS. I did ask for one and stated its only fair they keep their shareholders updated accordingly
They probably used "latter half" as they expect significant delay. It's the same pattern as before, constantly being pushed back. It has gone from this week or next week (which expired last week), to end of the month, to latter half.
Same with what happened before, expected to resolve shortly, then end of April, then end of May, a few days before delisting.
It seems like this company struggles with doing things on time. They previously stated that their operations were unaffected by covid. Are they now affected by covid, or using the covid extension because it's there as they otherwise would be late?
I do wonder why their time estimation is so poor, yet seemingly accordance to their RNSs there's not really many issues/problems stated other than over the clarification or citic's involvement.
So could we fairly conclude the forthcoming update would be ‘un-welcome’ to anyone with a short position??
1st of July is the start of the latter half.
Just sayin'
;-)
I'm sure it's going to be worth the wait
This is extremely disappointing. Kind of what I expected tbh though.
from them. Without copying and pasting against LSE rules, it essentially says they are working hard to get their AR published, they've had to apply to Companies House for an extension due to Covid, the report will contain updates that will be "welcome" by shareholders and they're hoping to settle our anxiety by the later half of 2020.
This tells me we are locked in until Oct / Nov time but the news is expected to be positive