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Emmerson says Morocco government committee supports potash project
March 11, 2024 at 06:36 am EDT
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(Alliance News) - Emmerson PLC on Monday said a government committee in Morocco has upheld a referral of approval for the Khemisset potash project, which is fully owned by Emmerson.
Emmerson shares were up 6.8% to 2.67 pence each on Monday morning in London. They remain down 43% over the past 12 months.
Chief Executive Officer Graham Clarke said the project, whose referral of approval was upheld by the Commission Ministerielle de Pilotage, or ministerial steering committee, "will provide significant value and benefit to the Khemisset region, the Kingdom of Morocco and to the company itself."
Further, the committee invited Emmerson to update the project's environmental impact assessment and re-submit it to the Commission Regionale Unifiee d'Investissement, or unified regional investment commission. The CRUI in July had referred approval to the Commission Ministerielle de Pilotage after the CRUI was "unable to approve the application" following a recent evaluation meeting.
CEO Clarke said: "We are very pleased that the committee has upheld our referral in this matter. We now look forward to re-engaging with the CRUI to facilitate the approval of the environmental impact assessment for the project."
By Tom Budszus, Alliance News slot editor
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
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© Alliance News - 2024
Latest news about Emmerson PLC
People still bailing, It's not looking good
The lack of clear communication from GC is very frustrating. I want to be positive but we are left very much in the dark here again.
Crossed fingers a new application was made if this isn’t imminent and guaranteed - you get on the 90 day decision SLA tracking and no one can say the right of appeal is already ‘exhausted’ if the CRUI is still ‘unable’ to award. Please update us EML.
Thanks
Woolverston - IMHO bid/ask prices are changed after (in reaction to) the large buys. The small trade reflects the new prices - it does not move the prices.
Hi Ideas, it was that Twitter account that I picked the info up from.
Can somebody answer the question.
Why is there nearly always a small trade buy of 100 pounds or less after large buys that move the share price up far more than the large buys have like today
2 250000 buys and then a small buy.
Must be very well connected to know the seller by chance. Be careful there.
Without looking, the language sounds like the account previously run by Makes on here under the name Lloyd Philips, and which I understand was renamed to Peter / emmerson potash after adverse press about the other name.
That account often seemed to know the seller when the share price dropped and it was usually for a unique, explainable reason shopping the same lines.
Maybe extremely well connected with people who say when they sell but I always felt it a bit of coincidence to know so many sellers.
According to Twitter it was a bitcoin margin call that forced the sale.
Who cut n Run..
Will it continue tomorrow?
For all your nonsense Swaz, I don’t think I’ve ever seen such rampant self-promotion in all my life. Really sad….
Https://x.com/SwazersC/status/1769648496280289758?s=20 https://www.tradingview.com/x/OrkxLpQO/
Thanks for the info
More info here on how ordering works. Most if not all of your questions will be answered,
https://www.investopedia.com/ask/answers/100314/whats-difference-between-market-order-and-limit-order.asp
Thanks for replying.
Someone's asked for it at a certain price. Someone's worked it to get it to that price for them.
They got it at that price.
: )
That £26k buy @ 2.65 has just tipped the scales (only showed up just after you posted).
Hopefully next week will be the last week to buy below 3p.
Have a good weekend all.
Steady day today. Some sold some bought pretty equal in my book...
Is it a large order being filled? Could you please explain more how this works and effects the share price. is it a large order to dump or large buy.
Thanks
Is it a large order being filled?
Well it looks like someone is dumping their holdings in EML.
I guess News is "Imminent"
That's how I'm seeing it too. Big gov given it back to little gov and saying alls OK with us so you've no worries......
Woolverstone. Your comment that he EISA was 'too important' for the 'local' Committee to approve is incorrect.
The 6 July RNS which informed us of a decision, clearly stated;
'Following a recent evaluation meeting, the Commission Régionale Unifiée d'Investissement ("CRUI"), the regional investment authority, was unable to approve the application, '
The RNS gave no reasons, but in a preamble the Company stated it was the 'usual culprits'. Water usage, brine run offs.
In light of the fact that this BOD are rather 'Scrooge like' with divesting information to the owners of the Company, us, as S/H's'. I conjectured at the time that I thought the refusal was because if it granted EISA and water then became a serious issue, the 'locals' were making a 'rod for it's own back'. So, it passed the buck. National has now countered this by returning 'the buck', thus giving them full control on the decision. For reasons previously explained, I fully expect EISA to be awarded, sooner, rather than later.