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Started: chisler, 21 Jun 2024 15:24
Last post: chisler, 21 Jun 2024 15:30
I still believe in Hayden Locke.
chisler
Chisler
Started: Kimhappy, 13 Jun 2024 10:06
Last post: testpack3, 21 Jun 2024 15:25
the bod, esp. ceo, has no intention of feeding any info to us pi's. it must be aware of the comments written on 'investor boards'., but obviously has not a care in the world about them. every month, since they are all. 'working hard behind the scenes' (lol), they get their salary, pension pot payments, perks, and '**** a snoot' at us.
Well, at least the sp can’t drift much lower now. Confidence at rock bottom.
And they can be misleading.
Do I believe Graham.
I don't believe anyone in charge of an AIM listed company.
I believe RNS's
There are no publicly 'disclosed' short positions, but there could still be any number open that are not reported. And given the SP trajectory I would fully expect there to be some.
Started: Kimhappy, 10 Jun 2024 15:53
Last post: Hamz74, 12 Jun 2024 22:17
Where did you see that appeals take up to 90 days?
And was that comment on the mine in the Africa Intelligence article, or another one?
Agree. It’s seemed beyond Rupert’s reach. GSM could really be strategic investors if they get this through and funded.
I don't believe OCP are anywhere near having a mine ready despite the recent news articles. There isn't even a JORC resource for their blocks as things stand.
In the last RNS Graham mentioned that the revised EIA went in 'early' April.
I have seen a diagram of the appeal process which states a decision in 90 days, so that takes us to Mid July for a decision if they make EML wait.
That is 'if' the CRUI are treating it as an appeal.
Agree with Sloppy over GSM's involvement, these guys are serious players & Mark Zhou (GSM), in a recent article claimed he was backing the Khemisset mine in which he qualifies as being 'exceptional'
The counter to that is why award the mining licence in the first instance. Also National could have killed this at appeal but chose not to. My view is they have empowered Regions (CRUI) to be the ultimate decision makers hence have pushed back for reconsideration. What we don't know however is, in the event of rejection again, has to the right of appeal been exhausted.
The other to point to consider is an approval subject to water limits inherent within KMP scoping study could make the cost of obtaining finance prohibitive given the change in the risk profile. My instincts are that either CRUI are going to defer a decision pending further KMP testing or it gets approved subject to..... and then shifts the onus on to the funders to request the same evidence of commercial viability (KMP).
One consolation is that having GSM as strategic partners with a significant stake the MA are not just dealing with a UK minnow but a global operation with deep pockets, contacts and an ability to bring sizeable investment capital to the region; not to mention the willingness to challenge and publicise any skulduggery.
OCP is the worlds largest fertiliser company. It made 3.4 billion dollars in the first half of 2023. its at advanced stages of producing its own potash.
Why would they sign Emmerson off ?
The idea it was being passed back for waive-through-approval is still possible. Reasonable to expect the application will have to fully justify things. Small chance of skulduggery.
Seems we move through each of these being most likely as time passes. Feels we’re beginning to pass the first assumption that we might be waived through and onto an assumption of arms length review.
Last post: testpack3, 5 Jun 2024 14:03
With a spread of 15% it is not possible to say, for sure, any trade above the bid is a 'sell'. Brokers and MM's will have different levels of available stock, and depending on quantity of transaction, will offer 'deals'. When there is a significant amount of available stock, MM's will have price at min and max values of spread. If stock is in short supply ( no pun intended), expect to get good 'deals' depending on transaction size.
Everything above 1.955 is a buy, everything below a sell
The red/blue is not always correct. I suspect most of the trades above 2.0 will be buys.
Thought more about the visit from a GSM representative last week.
My guess is he will be the person appointed to the Emmerson board & so will want to be across the project which would naturally include visiting Morocco & the site.
Lets hope for news before the end of June.
GLA
A wall of red sales today, but SP unchanged?
Started: swazers, 19 Jan 2024 10:28
Last post: Edfinvest, 31 May 2024 16:07
Got to agree with you on this Testpack. No clever charts are going to tell us anything on this. It’s either going way up on positive EISA news or the opposite of bad news.
My chart, still at printers, which I drew on the back of a cig packet says this;
EML is a binary play. Upper level, day following RSA positive release. sp 4-12p*
* variation based on conditional award of alternative supply of water in volumes exceeding ? ( figure that EML must have produced in report). Non conditional award, upper limit. ( highly unlikely).
Lower level, immediately following refusal of ESA. sp 0.1p **
** on then basis that Committee states unconditional refusal ( must be extremely unlikely.)
A 'conditional' award based on an 'alternative' water supply is a nightmare scenario for share holders. It gives the green light for the BOD to have their snouts in the trough for an indeterminate amount of time, ( it will not be an 'imminent' of time.)
The award (or non), will blow that chart out of the water and make it, and you, look foolish, again. Turn your hand, at that of your pal, and AI, to FTSE cos. who generate income and profit. Oops, pro cos do that., bit out of your league, ne'est pas'
I have informed Swaz. many times, that charts on AIM cos with no, or little income streams, and still in the 'fledgling' state, are a nonsense. I bought top FTSE cos like RR., at 74p, now £4 +, Plus at £4, now over £20, where chart information is rock solid and can be used effectively. He doesn't chart top FTSE cos since there are professionals doing that, and he would be 'out of his depth'.
Time this got moving - that's an understatement to say the least. Now is the time to stay patient that little bit longer. It's always the darkest before the dawn and all that, but it's true. I'm going to predict approval will land before the end of August. I've previously sold out of two big growth stocks just before they exploded, I'm not prepared to do it a third time. I'm holding my nerve and sitting tight. GLA
Time this got moving . No signiifcant RNs for a few weeks now
Started: WhatYouThink, 29 May 2024 15:35
Last post: JazzyGeoff, 29 May 2024 16:12
A great read and how true. You cannot argue with that.
Https://youtu.be/TE49udOI5Io?si=KPb2B4o3Vb474kKf
In Morocco, and in order to encourage investments, both local and foreign, the government today is focusing on promoting investment. The investment charter, which has received significant royal attention, aims to stimulate Morocco's economy and provide job opportunities to address the issue of unemployment.
Unfortunately, we are facing significant delays in this area due to the government's performance. We see many projects involving foreign companies that are stalled. Despite Morocco's significant mineral resources, which are very encouraging for foreign investment and capable of attracting substantial foreign capital and strong projects, particularly in the mining exploration sector, the government's performance in this regard has been disappointing. Instead of advancing these initiatives, the delays are hindering investment.
For example, in the heart of Morocco, in the capital Rabat and its surrounding region of Rabat-Salé-Kénitra, we have a distressed area, the Khemisset Province, which possesses significant potash reserves. A major British company, in partnership with a local company, has identified this mineral. However, this major project, instead of being encouraged, faces obstacles.
The Khemisset Province, which covers almost 40% of the geographical area of the Rabat-Kénitra region, lacks any foreign investments. In Khemisset city, there is no industrial zone, no companies, and no investments, resulting in a high level of unemployment despite its proximity to the capital. Unfortunately, this British company, despite having an exploration license and awaiting environmental approval, faces prolonged delays and procrastination, which hinders investment and deters foreign investors from investing in Morocco.
This company's investment is valued at $2.5 billion, with a duration of 19 years, and is expected to create 2,000 jobs. If the government considered the significant drop in job opportunities, which has set us back 20 years, it would have expedited this project to create some balance. Creating 2,000 jobs is very important and would raise the employment level in this region, providing a glimmer of hope for the youth who are struggling to find jobs.
Instead of accelerating investments and making Morocco an attractive hub for foreign capital, the government's actions are driving investors away to other more attractive regions with democracy, investment conditions, and profitability. Capital is cautious, and investors seek successful and profitable conditions. The current obstacles, unfortunately, raise questions and suggest dissatisfaction from the administrative circles. We hope for fairness and to correct this situation.
Started: JazzyGeoff, 28 May 2024 12:25
Last post: JazzyGeoff, 29 May 2024 16:03
Testpack3 I agree with you. I don't have a clue and I don't think we will ever know as to why the Government didn't override the locals and issue the EISA. Reading the minutes and seeing the outcome from the previous meetings held by the Ministerial Committee suggested that this was well within there power to do so. It would have made our lives a lot easier!
I just think the shoes is on the other foot now. If the CRUI want a desal plant then it is up to them to say so without any ambiguity and not for EML to suggest. This of course would add to our Capex. Why spend the extra money if you don't need to, after all we want to use grey( waste ) water not fresh water.
I would have thought that Nizar Baraka ( Minister of Equipment and Water) would have been in the Government discussions. He should be well informed of the water situation. He clearly didn't object to it. He knows the area well as he was born in Rabat and educated in Rabat and also knows what actions Morocco has taken and will take to address the water issue.
Next move is with the CRUI. I actually think this has made there decision easier. They can now point to the Government should things not workout.
JazzyGeoff', from your post;
'I believe that the CRUI are not only challenging Emmerson but a refusal would challenge the Governments view of the project. I cannot see this happening. The CRUI are on their own now.'
This suggests that the Govt would have given approval to EIA, based on the new KMA system. Then why did it not give the ahead, since Regional passed the buck to it? I posted sometime ago why I think Regional passed the problem 'up the line', and did not take the 'Bull by the horns'. I surmised that, since appro is given, and a water shortage ensued, blame had to lie somewhere. There must always be a culprit in poor Authority decisions, especially on crucial matters , such as water, in a drought Country. This is why, I believe, we are in this state of limbo. My fear is that the only decision on the problem, will be made if EML offer a long term sustainable answer to supplying water to the mine, such as desal plant, or arrange for a minimum of 200 Arapahoe tribesmen, to perform a 'Rain Dance' at the mine, every hour, on the hour, until all 'in country' dams are overflowing. Unsure on the efficacy of this approach, however, with the flooding in the State of Colorado over recent years, GW has been blamed, and the reason may lie a lot closer to home. !!!!
CBax - I am afraid Graham isn't in control here and never has been. The EISA will be issued when the Moroccans are good and ready.
As previous posts have highlighted Emmerson is environmentally in the best shape it has ever been in to receive the EISA. I think the CRUI are running out of reasons to reject this. I don't see them having the support of the Government on this either.
The Government have asked that the matter goes back to the CRUI for reconsideration as they believe with the new KMP process this is a goer. If the Government didn't feel that way they could have killed it and agreed with the CRUI on appeal.
I believe that the CRUI are not only challenging Emmerson but a refusal would challenge the Governments view of the project. I cannot see this happening. The CRUI are on their own now.
Clearly other share holders don't share this view as they head for the exit based on the recent share price. I am clearly in the camp that believes they will receive the EISA.
Fair play if they have their act together. Seems someone in the space does. Shame it isnt Graham.
It'll come back though once thy sell up.
Unless of course we buy all the cheap stock
Kore potash up again . Cmon Graham . Wakey Wakey get this moving !!!!
Started: JazzyGeoff, 24 May 2024 09:07
Last post: AJ27, 24 May 2024 22:32
Interesting and sounds positive:
www.africaintelligence.com/north-africa/2024/05/22/british-emissary-emmerson-presses-accelerator-on-khemisset-potash-project,110228996-art
No problem Beyondthesea, and others here, I think we got there in the end.
To be fair, if it’s done in another six weeks, will be very tolerable compared with the historic delays. Feels far more on the record now and that’s positive. Investors flying in also adds positive pressure.
AJ27 Ice cream, hi both sorry the Olympic swimming pool mentions were mine originally, sorry my bad (google DOH!).
Mentioned earlier but the good news from today is the mention of the revised ESIA going in 'early April' so at least this gives us a good idea of how long (almost 6 weeks), they have had to consider it.
An ice cream analogy would be good…
It does show what a significant improvement the KMP has had to the environmental impact at 56m3 per hour of operation, the delays all be it painful have ultimately had a significant improvement to the project.
Started: Beyondthesea, 23 May 2024 14:51
Last post: Beyondthesea, 24 May 2024 08:14
Link won’t take you to article.
Google Africa intelligence & search Morocco.
Where was this article please - can you post a link?
"The representative of Emmerson's main shareholders has paid a visit to Morocco to lay out what the company, backed by major international mining firms, hopes to gain from the site east of Rabat."
I could not see the rest of the article (paywall), but interesting to see GSM getting involved which must be a positive push for the project.
Started: Matador78, 24 May 2024 07:20
Last post: Matador78, 24 May 2024 07:46
I'm going with my original prediction and saying the ESIA will not be granted in 2024
Who else got giddy when they saw that little red dot next to RNS this morning? Nothing new in the statement that we didn’t already know. I’m thinking by the end of July early August we should have the ESIA decision. Sit back and enjoy the English summer in the meantime.
They've used the word "Soon" so often it's become intangible.
Last post: 99icecream, 23 May 2024 11:15
Like all governments, they want to strike a balance. They want the employment and the tax revenues etc. They don't want the (potential) pollution and water shortage. They are aware that they can't easily get toothpaste back in the tube (once the permissions are granted they can't be easily amended).
That side of the world has always been viewed as "behind"
"An Egyptian Minute" = An Hour
The Moroccans have never been famous for their bright conduct. Especially with anything to do with Money.
It will be 3 years next month since the imminent approval Rsn. This is just a simple question do we think the Morrocan authorities are a help or a hindrance in trying to get this project up and running,I understand they want all the relevant boxes ticked but there does seem to be a massive reluctance to move at a pace that has created this vacuum of timescales and dates.
Started: 99icecream, 23 May 2024 09:48
Last post: 99icecream, 23 May 2024 09:48
FWIW - I remain very positive about EML, a buyer if it remains this cheap. My attention is, however on KP2 where the share price has doubled since 13 May. Up another 10% today.
Started: CBax, 23 May 2024 09:41
Last post: CBax, 23 May 2024 09:41
C Mon Graham Kore potash is getting some momentum . What s happening Here ??? B
Started: CBax, 22 May 2024 17:11
Last post: idg69, 22 May 2024 20:05
I agree, just a lot of apprehension and nervousness around this stock right now. The whole business plan now stands or falls on the decision of what amounts to the local parish council. Reminds me of the time everything hinged on the planning committee meeting approval for the Sirius minerals mine. That passed by 7 to 6 in favour.
The positivity that this was a sound investment under Hayden Lockea few years back must of all just about of evaporated . What a mess
Started: JazzyGeoff, 22 May 2024 14:24
Last post: JazzyGeoff, 22 May 2024 14:24
Today Sovereign Metals (SVML) released a RNS updating shareholders on the progress they are making with their Rutile and Graphite mine in Kasiya Malawi. They even went on to thank the Government for processing permits so quickly - " I want to thank the Malawi Government for an efficient approvals process, demonstrating just how important Kasiya is to all stakeholders."
The Government of Malawi are so keen to get this mine up and running. They have take the measure to combine all there mining and permitting departments especially for Sovereign to help speed up the process and get the permits approve. The Moroccans should take note, here is how you do business on a world stage and benefit your country and its people.
Good reason. Who knows but at least that makes some sense.
I suspect the weakness in EML might be due to some switching into KP2 which was 0.525p on 13 May now about 0.95p.
Exits the last three days - seems more than a Friday thing. I wonder why now if July / August has been on the cards since the new application went in, making the delay frustrating but not news.
Started: idg69, 20 May 2024 11:14
Last post: 99icecream, 20 May 2024 11:57
I'm happy to hold.
Dibley Parish are perhaps smarter than they get credit for. I suspect the conversation with government had as much to do with financial support for local water (e.g. to replace the lost grey water) as it did the the terms of the EIA.
If ever there was a time to hold your nerve it's now. Does the word 'imminent' apply now more than ever? We must get a decision from the Dibley Parish Council within the next 4-6 weeks. I don't like the pull back but it's only to be expected in a news vacuum. I'm still holding out that the EIA will eventually be approved but not prepared to add to my considerable holding at this stage.
Started: Wheresallmemoney, 17 May 2024 12:35
Last post: Dearmal, 20 May 2024 10:53
So is the whole process going to start again...little upturns in price and hints of rumour and nods and winks...and then nothing.
Oh well, that time of the week again. Hope one of these weeks, the RNS approval comes out early Monday before that can get back in.
Have a good weekend.
Started: AudibleEnergy, 12 May 2024 10:52
Last post: idg69, 14 May 2024 18:32
I once told a kid at school he could lick his balls if he tried hard enough, he came to school with a really sore neck the next day
Grey water is once treated sewage water. Used in Spain many years for watering golf courses. Do not lick your balls or fingers.
The grey water is coming from the Khemisset Waste Water Treatment Plant, that sits on a river.
Normally the treated water would be discharged back into the river.
This is all in a 2022 RNS & nothing over the past 2yrs has changed on where the water is coming from, with the exception that Emmerson no longer need as much of the waste water.
Grey water from where? The grey water referenced is once rinsed fresh potable water. That then grey water doesn’t account any fresh water to top up the recycled or grey water.
Morocco doesn’t have water supply EML, if it did then there wouldn’t be a shortage. Any water available must be taken fr8m someone’s supply unless a new supply be found and allocated to EML. That is the reality of a country short of water.
All the data is accessible in the links provided of later I will repeat.
Emmerson plans to use grey water. But if Grey water is not available, it would be a waste of energy to use desalinated water for Potash.
The Morocco plan to provide sufficient fresh water is 1) In coastal areas to add extra fresh water from desalination. 2) Inland to add water from underground aquifers. In some of the larger inland population areas to underground aquifers are already being depleted faster than they are replenished. - Here, alternative solutions will need to be found (e.g. piping from the coast).
Started: JazzyGeoff, 11 May 2024 19:16
Last post: 99icecream, 11 May 2024 20:37
IMHO - At some point there will be an RNS reporting a deal with OCP.
EML will need DAP (Diammonium Phosphate) as an input to the KMP processs.
OCP will need to use the KMP process at its own mine in Khemisset (which is rumoured to have higher % of Carnallite) or have EML do the processing.
Geoff, good post. Agree with most of what you say.
Pre KMP the mine was going to be using around 139m3/hr so an Olympic sized swimming pool of water every 2hrs. That usage is much better now at 56m3/hr.
They also came up with a better solution for the tailings in 2023 as they are now using dry stack tailings, which should be far more environmentally friendly.
If you look at the reasons for refusing to issue the permit in 2023 they are actually the same as back in 2021 when concerns were first raised. I believe this may just have been loose coms when the issues were simply c+p across for a previous RNS.
The next RNS IMO will be either
1, A revised DFS which should extend the life of the mine in years & improve the financials as the new process has lower cut off grades.
2, An off take agreement for the two new fertilizer products.
The EIA approval is hopefully late May or June.
It is understandable that the CRUI have made it difficult for Emmerson to receive the EISA. Pre KMP Emmerson believed that all the work they had done up until that point met or exceeded International mining standards.
My thoughts are that Emmerson will become the new bench mark for any mining company wanting to set up shop in Morocco going forward.
The planet is getting warmer and countries in the hot zones like Morocco are going to have to preserve water. The CRUI have a moral responsibility to do the right thing. In Moroccan terms this will be a large mine and hence has a large draw on water.
By upholding the referral it suggests to me the Ministerial Committee (Government) are taking a more holistic view of Emmerson and see the economic benefits it would bring to the Country in the form of jobs, investment and taxes. If I remember correct the GDP for Khemissett and the surround area was to grow by 40% due to the presence of the mine.
There were 5 reasons given as to why the CRUI could not approve the EISA.
1) use of waste water
2) deep well injection
3) tailings at surface
4) road congestion
5) land users
We know that 1&2 hopefully can be addressed by the new KMP process that has been proposed however Emmerson have not provided any information to us regarding the other 3 issues, particularly the storing of tailings at the surface.
No. 4. I understand the locals not wanting a production plant being built on their doorstep upsetting their utopia but in this case the needs of the many outweigh the needs of the few. Congested roads are part of life. If roads are not there to move goods and people along, then what are they for? Emmerson are building their own road which I understand the locals can use out to the highway and looking at the photos on the Emmerson presentations the highway could handle 20 Emmerson’s before it gets any think like the M25.
5) Land Users. This again is not clear. Is 1 and 5 linked? Is this land owners or land users/ farmers who use the land to support Morocco’s agricultural industry saying they don’t want to share the waste water they use for irrigation due to concerns of shortages when the mine is up and running?
Hopefully Emmerson and the CRUI are having constructive meetings and for our sake we have a positive decision very soon. Thus allowing us to move onto the next de-risking issue and hopefully construction.
Started: woolverstone13, 8 May 2024 14:39
Last post: idg69, 8 May 2024 17:08
You sound pretty despondent (and rightly so) There is an extremely strong financially rewarding business case for the Khemisset project on so many levels but a 7 year drought and a dithering local council have not done us any favours. I also think there has been some back room skull duggery at play to kick this down the road from certain factions in government. Could be wrong here but I can't imagine OCP would be kept hanging on a decision for 3 years.
The EIA approval committee will certainly have a date on the calendar to meet but unless EML enquire and inform us then we'll be the last to know. Clarity and communication have been very poor and most RNS's raise more questions than they answer. If you feel you are going to lose the rest of your money then you should sell up now and get out with some cash rather than none. I'm not prepared to do that having been here 3 years. I believe the recent KMP scoping works will get this environmental approval over the line and deliver even higher margins/profits than the original feasibility study so I'm going to stay put
I appreciate it's really difficult to remain positive after all this time. Wishing you well in whatever decision you choose to make.
Are shareholders just being strung along for years so the money raised has kept the BOD etc on a good living . Communication has been minimal and confusing.
Surely the next meeting of the local decision makers on issuing the permit will be on a calendar somewhere 🤔 😀 😄
Yet we are left in the dark looking for the early RNS on the subject every morning. Clarity is needed but won't be forthcoming.
Never will I invest in a startup company ever again.
Sad I know and I have tried support startups and been screwed every time.
I am still in and will more than likely lose the rest of my money.
Companies can scam shareholders and its exceptable.
and take inflated salaries for little work and when things go wrong it's someone else's decision or problem.
Signed Frustrated Shareholders
Started: idg69, 7 May 2024 18:31
Last post: 99icecream, 7 May 2024 20:57
8 April RNS stated the revised EIA would be "....submitted in the coming days... "
"The Company and its consultants have therefore been preparing a revised EIA to address the concerns previously raised by the CRUI including the improvements arising from the Khemisset Multi-mineral Process ("KMP"), and this document will be submitted in the coming days."
Say 15 April submission - Then we would expect an answer by Mid July 2024.
We’re coming up to 2 months since the EIA decision was bounced back to the Dibley Parish council for review. Does anyone have any thoughts on how long before any news is forthcoming? I heard 90 days was bounded around but after 3 years waiting to date who knows?