Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Ella what you actually said was....
'I did engage with the company at the time and was assured that it was part of the licence reorganisation and nothing to be concerned about. It now appears from wjat has come to light via the press in Zambia that it was related to the court case, plant lease and an injunction that was placed on Zamsort.'
Key bit for me was your use of 'It now appears'.....hence I asked if you've asked the company about this observation. As it seems to me that you've already been given assurances directly from the company and then speculatively interpreted something from a news article.
All I've heard is that the licences were being reorganised ahead of a potential commercial transaction and when asked they confirmed the assets are in good standing order.
Hi F79,
As I posted below
'I did engage with the company at the time and was assured that it was part of the licence reorganisation and nothing to be concerned about.' I expected the company to issue an update related to this.
I'm not sure what the plans for producing revenue in 3 months are without a mining licence.
Fuku-I have and I'm happy- if anything, it's a good scenario-but the troll wouldn't want to know any good news- Here's some bad news troll- after those cores and the govt.change there's an awful lot more good news on the way.
Have you asked the company about this observation?
Hi F79,
The Zambia mining cadastre no longer shows the Kalaba mining licence which is the only mining licence we had. The exploration licences over the areas still exist but are in different names.
Ella.
Why do you think we have lost a licence. That's not my understanding. I'm informed the licences are in good standing. The court cases are a) a Bogus debt claim by MM and b) a case against to get rid of him leasing the plant. Where do you get the understanding that a licence is lost..
Regarding a post period update. Like I say given 'post period' interim statement isn't now due until. End Oct I wouldn't expect they will include. Based on the fact they will a) will have RNS'd anything they deem they need to and b) they will issue the half yearly only q month after last year's annual accounts
Hi F79,
It is not the forward statement I am interested in but a post period update of anything significant that happened in the interim. A forward looking staement can be speculative but the post period update of happenings in the interim should be factual.
I will be interested to see what they say about the loss of the Kalaba mining licence. I did engage with the company at the time and was assured that it was part of the licence reorganisation and nothing to be concerned about. It now appears from wjat has come to light via the press in Zambia that it was related to the court case, plant lease and an injunction that was placed on Zamsort. I am interested to see if/ how this appears in the annual report. I woud expect the loss of the only mining licence we had to be significant enough to appear in the report. Interestingly when I suggested on this board that the loss of the licence in the mining cadastre was not good news I got a lot of personal abuse. Some folk may wish to reflect on the messages that they posted at the time.
A CASA sale update is long overdue. The presentation that Fulmar posted the link to yesterday suggests that Rackla are still trying to raise funds.
They are presumably trying to find a section of massive sulphides larger than the 0.15m or so that appears to be in the RNS photo so if they manage to find anything I would expect that to be a seperate RNS.
It may include some content on some of those things.
Personally I feel I've a fairly good handle on the position as I've engaged directly with the company on the matters they havent felt they needed to release to market about, but where I have had any level of doubt or confusion.
Atb
Ella...regarding your post is on your expectations of the annual accounts due end month I think your expectations on forward looking detail are unlikely.
Specifically your point 'The report should be interesting reading and hopefully include a post period end update and cover the following...'.
Firstly regarding a forward looking financial position, the position as at end May was already included in the RNS around the notice in delay of publication of the Annuals.
Secondly, I'd personally be surprised if the annual accounts included much (if any significant new detail) on a forward looking statement beyond the reporting period of end Dec 2020. Beyond what they already felt needed to be released via RNS to the market.
I say this as if they intended to include significant 'new' information they would not just have delayed the interim results to period end June 2021, to the end of October IMO.
So we will get the accounts, and these will probably include a form of forward looking statement, however I'm not convinced they will include anything beyond what we know and little extra detail (if any) of the information Ella wants.
On the flip side I hope I'm wrong so you can't keep banging the same beat on the drum another month.
Are you hoping for some positive stuff, Ella ?
The big question is will we get another RNS before the results...
The report should be interesting reading and hopefully include a post period end update and cover the following
- The Kalaba plant lease that was apparently signed in May 2020 and was/is the subject of the court case.
- What has happened to the Kalaba mining licence that has disappeared from the cadastre.
- The status of the third attempt to sell CASA mining and what the current related liabilities are. Golden Square Equity Partners' confirmation statement is outstanding at Companies House.
- Post period end update summarising the status of the various court cases.
- Comprehensive Status of our financial position at the end of December and one would hope a summary of the current financial position.