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Perhaps the minister is unhappy because bribes stopped when Mpinga left? Mwana was never compliant with Mpinga there so why the sudden fuss now he's gone?
I did say after the EGM when they kicked out the Zimbabwean directors, one thing you don't ever do is bite the hand that feeds you, the government are not happy about the smelter restart being put on hold or the way the board has changed, so they have now summoned Mr Ning the Chinese chairman to explain. http://allafrica.com/stories/201507170205.html
Got to say the comments posted here recently are so way over the top (to put it politely). AIM for starters is not a black market where anything goes. And NO, your shareholdings do not disappear or become transferred to the company should MWA delist - a highly unlikely scenario I might add. If people do bother to do some sensible investigation they might truly understand the new BOD is doing it's level best to get things moving in the right direction (does the recently announced efforts to reduce cost not impress shareholders??). Also, if you have concerns like I did, there's nothing stopping you to engage in dialogue with Mwana Africa. I think we all need to be sensible on the scheme of things. It has not been easy to stomach the recent decline of the SP (and rather quite dramatically), and the way the EGM went - but I am more than willing to give them time and a chance to take things forward. I can tell you all market participants were stunned with the outcome. Kalaa Mpinga gave no indication that it would turn out the way it did. If he was so trusted you could argue we were all led down the garden path. In all his interviews he was adamant the so called rebel minority shareholders would not win at the EGM. But I am not here to discuss that and I am not saying Mpinga misled us (the shareholders). The expectation is that a new Nomad will take over from Peel Hunt, and once this is out the way I want to start focussing on again at the company's long term strategy, and address issues related to gold and nickel. This for me is far more interesting than to continually read what can only be considered ludicrous and unfounded remarks about the company and the people running it. Next week will be very interesting. It should be exciting. GLA
no Newbouy been in this share since 2009. Who is your broker?
And do you not understand that where money is concerned "Everybody lies" They couldn't exactly make a statement saying we will let the shares be suspended, then we will de-list the company and steal all your money. Mark Wood was not nicknamed the "Pinstripe bandit" for nothing.
sharerise- are you shorting this share?
My understanding is that a Nomad can only be announced on the 25th due to possible complications with two Nomads. I would have thought that the new Nomad would be announced on the last day of Peel Hunts contract, the 25th. I'm sure everything is already in place and now waiting for Peel Hunts contract to terminate.
You got an update last week. "Meanwhile, progress is being made with the appointment of the Company's new Nomad and Broker. The Company is in discussions with a number of Nomad and Broker firms and there is every expectation that an appointment will be made within the required time frame. Peel Hunt is fully co-operating with the handover process to ensure a smooth transition." "A further announcement will be made once the appointment of the new Nomad and Broker is formalised." Do you not understand that last sentence?
Well my broker has just sent an alert to the possible suspension of Mwana shares on July 25th unless a new Nomad is in place. I do think the BOD ought to be updating us on progress towards appointing a new Nomad to allow us to make some decisions.
Appologies wrong place to talk about song titles I know.
What.........tell me why I don't like Mondays???? But it's Thursday!! ????
Their most well known song?
creeping up. either short closing or appointment of brokers news very soon.
The RNS announcement was so badly needed. It was belated but well done in the end. Positive coverage in the media again. Once Nomad is in place it would be good to see SP trade around the range 1.8p to 2.2p till year end before news on the smelter restart... if cost is still well managed MWA has a good outlook. Early days but a good start...
If and when a nomad is announced this could gain good. A few days can change a lot of minds. Keep up the good work. GLA.
Greece deal and broker appointment would lift the share price next week.
1 million buy @1.40
First on the leader board and moving fast.
Shorts are closing today?
I do like the appointment of Anne-Marie Chidzero, when it comes to operating issues in zimbabwe. Don't think many realise who she is, but if you just a quick google search you'll see she is very well connected. Gives me more confidence about the new board anyway.
The RNS states very clearly that Ning is in charge. I wonder what Wellesley-Wood makes of that?
Yesterday's RNS is very reassuring for now and should put the price back on an upward trajectory. It seems people have been misinterpreting Peel Hunt's decision to stand down as a covert plan to delist which it is not. It appears the company is working on plans to build a stronger financial base so that it can withstand lower commodity prices should they persist - this is a very prudent. As PH was Nomad and broker and have no interest in Mwana's future, I think one could say in caused some panic selling and the fall of over 50% is totally overdone. Essentially there hasn't been any change in the company's prospects and in fact one could argue they are in far stronger position if they are cutting costs and is working on a long term plan. Investors need to stick to the facts rather than overreact to one decision. Keep the faith.
i'm pretty sure that MWA could get a nomad. they are a real company, with real assets, real revenue, although sure, complex environment. but it is very hard to know how to evaluate the politics here ... i can understand, i think, some of the zim politics & zim country risk, but i don't know how to gauge whether the big stakeholders might want to delist. if i understood how to judge that, i might almost want to buy in again here. but too, too opaque, i think, i am too cowardly. gla.
I really do think it's a question when with the nomad. Hopefully they can do it before deadline to avoid any more negative sentiment. There's so many rubbish companies on Aim, with so many questionable directors. It's would be bizarre if Mwana couldn't get a nomad.
http://www.mwanaafrica.com/investors-and-media/news-releases/2015/update-on-progress-since-egm-07-09-2015 It doesn't specifically mention looking for a CEO. Quote: "there is every expectation that an appointment will be made within the required time frame" I would have liked to hear something a little more optimistic regarding a NOMAD, "There is every expectation" doesn't quite cut it. No mention of "when" or "if" we might get a Q1 update.