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My take on the RNS from someone who is invested, RNS is Good and Bad, but not much Ugly.
Good
1. No debt
2. Negotations still on going, due to no debt, this will not be a fire sale.
3. Flanks almost in the pocket
4. Big wigs coming to work with us
5. CITIC are expert in Merchant M&A advisory
6. Sad to say some South African PGM miners may difficulties obtaining further funds to expand.
7. We have the funds to continue mining ourselves, if needed to be
8. Price of our goods, hopefully will no go up, as the need arise for them.
9. Hopefully Covid-19 won't have much impact
10. Russian Currency Devaluations i our favaour.
Bad
1. We will have no Nomad after 30th April
Ugly
1. If we don't get any Nomad, we will cancelled on @07:00 AM on 29th May.
If you intend to disagree, then pls post your reasons.
Amers, good points listed there and 2 stand out to me the most and I think people have over looked this little detail the bod have added in the RNS.
Russian currency and South Africa mines unable to get loans due to their products classed as ‘tatty’.
Why include these in the RNS? I’ll tell you why. We’re in a very strong position at the moment and I think some people need to calm down and take a chill pill. I get that most are worried about the nomad position but again, the bod have given clues in the RNS without spelling it out due to aim rules. We’re in ‘advanced’ discussions with another nomad and the current nomad has agreed to stay on to make sure a smooth transition/carry over is complete.
That’s my take on it anyway
I thought yesterday was a good update with a lot of focus being on the Nomad situation. But as the RNS said the company is in advanced negotiations and WHI are staying on to help with the handover, this has to be a statement of fact so it seems a very elaborate way of delisting a company to me.
WK sounds like its progressing well and this active increase in mining maybe where the board is planning to increase its strength. At some stage we will see an upgrade in resources as well. With the inability of RSA to meet demand due to lockdown and financing issues, WK could be a very good cash cow for the company. I imagine that any production will be monetised quickly in this market.
It was my understanding that negotiations for the sale of MT are ongoing, hence the clarification of who CITIC were but not a confirmation of a signing of agreed terms. In this respect i wonder if we were suspended at the company's request because Hammond's Tweet was factually incorrect, maybe an honest error but it allowed the company to ask for a suspension which is as i read it, is allowed under aim rules when negotiations are underway, and not as sinister as some seem to think. But that is my opinion only.
I liked the reference to the inability of RSA to fire up production, it was a clear message to those circling that the price could quite easily go up, as the structural deficit is about to widen. Along with the Absolute Precision tweet its clear that signals are being sent. Some seem to despise this course of behaviour by the board but they are playing hard ball so to me they are doing their jobs well.
Sounds like flanks approval are due any day and i cant see this not having a positive effect on share price were we to re list.
I thought it was positive and i can understand people's fears about the Nomad but it seems at this stage over egged, some have questioned what the BOD have been doing for the last 7 weeks, to me it seems they have been very busy.
GLA and stay safe hopefully we will see the benefits of our lockdown soon.
I think you are right about flanks approval being imminent.....(sorry if it has been previously
Highlighted, but i did not have the time to wade through all that tripe from yesterday)......
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.
FLANKS / FLAP LICENSE:
Seems as though internal consultation period is complete without issues, all approved as per the RNS.
Obviously there’s a final layer of administration at Rosnedra to confirm and issue the license. Problem is (from what I’ve been informed) is that national bodies generally have been closed due to Covid and that any national departments and bodies are functioning in a very limited capacity.
Question to me is whether flanks is formally approved before or after return to market on assumption on new NOMAD appointment.