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Lots of opinions . Let’s hope it at least can move above 2. 5 in the next week or so .
Tempted to put in more in the hope of a quick rise . But it’s gambling isn’t it not investing
Very good point Jinx, any appeal has to be on the original application (in any normal world, anyhow). They may have been facing a brick wall to come with this new process because no zero-revenue business designs new processes like this before they start unless they have no choice.
There is so much detail on their proprietary process here that the RNS looks like an advert addressed to curious OCP execs. I hope it is.
OCP said it's going to work with the local university to produce a water efficient process but, if Graham can have solved the water solution already and could either licence or just take and process the OCP material then he could have made EML something that it appears not to have been until now - perceived as useful.
Necessity is the mother of all invention I do believe. Just goes to show that the Emmerson team haven’t been sat on their hands all this time but putting their time to good use. I for one take this as in incredibly important RNS. I only hope they have been able to get this information in front of the ESIA approval board for them to consider as part of their decision making process as this has a massive implication on the water usage and waste management disposal - the 2 biggest stumbling blocks for getting the ESIA over the line.
Let’s not dis the Emmerson board too much today and take this RNS has an incredibly important piece of work that will, one, get the Environmental Approval we so badly need and, two, give us all significant uplift to our financial position when we become operational.
Thank you for the replies below, having been badly burned punting on HMI I would want to see Gov approval and a trustworthy management team in place before betting on another Potash Mine. This is a pity becase we all recognise the importance of the global fertilser market post Russian sanctions yet so many are run by dodgy managers in risky places.
It also doesn’t say that this new process is included in a revised ESIA application. So as far as the permit is concerned, it’s still only being assessed on what was already in it.
This rna means nothing, even if they released the npv $10bn, it means nothing if its not permitted projected.
Eml is in limbo and a right now on a knifes edge.
…and I’m assuming new capex is $625m on $525, as soon after in RNS
It just shows GC as a big f’in liar…again! If everything was hunky dory with the ESIA application, and just awaiting ministerial approval, why the need to develop a ‘breakthrough treatment’? He’s a snake oil salesman and needs to be gone asap.
The catch is the process isn’t patented (yet), the project still needs state approval and the financing model needs revamping (hopefully that doesn’t mean placing and shareholder dilution).
Interesting news, a clever process to deliver more high value fertiliser. What's the catch to investing here?
Ferrisc'
'I’d say it was you that was spreading BS Testie, your analysis is no more than a guess.'
My 'anaysis' was the actual quote from EML. I did ask EML to RNS the actual comms from the Committee, but it said it couldn't. The actual wording may have been ' application refused'. Now that is a 'guess' ferriscule.lol. Please learn to understand written English, and pray tell us, what is your 'guess' for the meaning of ' unable to approve' . C'mon, I need a good laugh. I am going to 'guess' what your reply will be, ' could not make the decision' lol. Now that is BS.
When are we going to see some action here ?
I’d say it was you that was spreading BS Testie, your analysis is no more than a guess.
BTS, with the use of the phrase 'committee could not make the decision' re' EISA,
, you are doing what BOD want you to believe. Spread more BS. This is the actual quote from EML, RNS July 6 '23,
Following a recent evaluation meeting, the Commission Régionale Unifiée d'Investissement ("CRUI"), the regional investment authority, was unable to approve the application, and consequently the Company has exercised its right to refer approval to the Ministerial Committee, which is chaired by the Head of Government and includes several Government ministers.
'Could not approve'. iow, rejected. Cf. 'Your Mortgage application could not be approved', is a nice way of saying, it was refused.
The Committee did not pass it to National, EML did, 'we reserve the right'. Still the Herd leader, full of disinformation and false optimism for the gullible.
That's January gone and still no end in sight for a meeting or even an outcome.
Aghmir,
"Emmerson is still awaiting the session of the Commission Ministérielle de Pilotage (''Ministerial Committee'' or the ''Committee'') to obtain environmental approval"
According to the last RNS.
As for the 30 day appeal, I have never thought EML were refused the permit & so the appeal process isn't valid.
If you listen to what GC said he said the committee could not make the decision.
It's the same with the reasons for the delay, we were always told water, but its not the water supply that has worried the officials , it's the waste water containing the salts & there worry over contamination, which is resolved with the dry tailings method EML are going to use now.
Https://www.rabatinvest.ma/en/home/
Although, the decision made by this body has been appealed to ministerial committee, seemingly due to rule in 30 days of July under the legislation.
New legislation brought in a one stop shop investment committee at national level and that happened last week, so whichever way you look at it, we’re overdue.
As we know, in the Kingdom of Morocco, the National Investment Committee is held three times a year. January May and July.
May we know the name of the committee that discusses environmental licensing? Thank you.
If that had happened I am sure GC would have issued an RNS today. I so wish it was true.
Unfortunately there has been no RNS.
GW62, reagrding Rob Butler he tweeted this on the Tuesday 23rd
"Excellent meeting today with
@AmbHHajoui
.In sectors from aerospace to automotives, green power to potash, and with FIFAWorldCup"
A link is doing the rounds today, about the permit meeting being yesterday. This is complete rubbish, and misinformation (as always).
Just to be clear, that is the Investment Committee which approves various project applying for conventions under the new investment charter. It's a different committee to the one that would decide on Emmerson’s referral.
Believe nothing on LSE and ADVFN, wait for official RNS's from Emmerson.
Meeting yesterday, ref Aghmir post.
"In its third session, the National Investment Committee approved 42 projects (34 draft agreements and 8 annexes agreements), which will be completed by the private sector with a total value of 7.4 billion dirhams, which will create 16,200 jobs, including 5,900 direct jobs and 10,300 indirect jobs.
The private sector's investment of 60% of the value of approved investment projects concretely reflects that the new investment charter mainly stimulates national enterprises.
In terms of job opportunities created, the industrial sector is the main sector in terms of the number of jobs that will be created thanks to the projects approved by the National Investment Commission, as this sector will create more than 9,000 direct and indirect jobs, representing more than 56% of the total job opportunities, followed by the tourism sector with about 13%, and the pharmaceutical industry with 8%.
During this meeting, Prime Minister Aziz Akhannouch stressed that supporting private national investment and job creation are among the government's priorities, in implementation of the High Royal Directives, explaining that all concerned parties are mobilized to ensure the sustainability of the registered dynamic necessary to contribute to the economic recovery of our country."
Yesterday, January 25, a meeting of the National Investment Committee was held and the Moroccan government approved 42 projects with a total value of 7.4 billion Moroccan dirhams. I hope this meeting will include Emerson. The news is not clear yet . waiting for the English version for the piccture to be clear
https://www.cg.gov.ma/ar/node/11636
https://www.youtube.com/watch?v=qLlh7n9xmls
Https://members.parliament.uk/member/4745/contact
See above link. This is for Rob Butler, MP who is appointed trade envoy for Morocco. I think we need as a group to start emailing him with our concerns especially in relation to the latest news from OCP. What do people think?
I honestly thought when I bought my shareholding that Morocco was a sound place to do business. I am just not sure now whether to be really concerned or actually pleased with the OCP news as it must offer excellent possibilities for EML if handled properly and with fair process at work.
Graham has repeated said that he knows of no reason why the EISA will not be awarded and all matters outstanding had been dealt with. He also repeatedly has said they have had positive discussions with the relevant authorities, if the EISA is awarded very soon I think the business case has just become more compelling. But I share everyone's worries and concerns.
The question is has Graham been open and transparent. I hope so. The meeting has definitely not taken place yet, I think we have that as fact, and nobody could have foreseen the earthquake and there will be other matters on the agenda, so I can't see how on earth it is being deliberately delayed to compromise EML.
I hope we can all have faith in the soundness of the Moroccan authorities and the competency of our CEO to get the EISA over the line. I really hope so for all of us shareholders.
I can't believe we are now in January with no news as to progress. I decided not to sell back in May and sticking with that decision at the moment.