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Well I predict its nothing again, penny for the guy makes more.
Well Pi, only two months to our annual results......
Has this company anything to give? Wages being paid??
SP7 - there's no volume today which pretty much makes any buy / sell discussion slightly pointless.
I suspect the c107k trade yesterday was worked through during the day. I can't really see it being anything other than a sell given its quoted value (9.556p)
What we need is tangible news that isnt caught up in an alleged disagreement between our BoD and Nomad
There is a lack of volume because there is a lack of interest, because there's no update.......
Market makers holding the quoted offer price at 10.5p so that buys show as sales. True offer price for quotes should be at 10p.
Expect it is in preparation for buying once the long-awaited announcement is at last made.
If that was a £10.3K sale at the end of the day today, boy is that investor going to regret it! Hold for gold, well no, hold for zinc.
The Kabwe mine and the Alikhani family, going back 12/14yrs cost the investors a fair old sum under the name of Berkeley Mineral Resources. Legal action was taken to recover ??? £1m .
Masoud Alikhani the then chairman came to the market on the future of zinc tailings at Kabwe. So not a
good memory for a lot of investors.
All the trades today other than the tiny ones are buys showing as sells as the mms increased the quoted offer price yesterday afternoon.
Wise buying IMHO.
The delay in making the announcement of the deal is frustrating to say the least.
I don’t disagree with your comment regarding cleaning up in that a total clean up is of course impossible as the lead is ingrained into the soil. But at least it will be something which Shuka with government assistance can do their best to remedy as far as it is possible.
Pete you must be joking
"I expect the mine to be dewatered and cleaned up in the first few months"
A quick clean up and alls good .. not going to happen if this is all that the problem was I'm sure the past owners with their wealth would have done that.
But as I said earlier nothing has been said officially here so still nothing about what's happening with this company whatsoever.
3.14 it doesn't have a happy past with the lead poisoning affecting the local population, but this is an opportunity for Shuka with the aid of government funding to clean up the mine area as much as they can , and benefit from a great asset with zinc of material value to be extracted. I expect the mine to be dewatered and cleaned up in the first few months and for the company to increase the available resource as well as extracting the zinc that remains in sight.
QGC and GMI will not have spent their investment in the company to acquire the mine without full lengthy due diligence and in the knowledge that it will prove very profitable; and with QGC's financial backing and ability to provide the back up for the operation of mines, as seen with Marula, I have every confidence that this company will do very well for investors.
Hmm Google kabwe mine it's not a good read at all about it.
Kabwe lead and zinc but nothing said here???
This video was made private after the last nomad led outburst.
Why has it been allowed now?
QGC Corporate Video 2024 youtu.be/HyV-_asoSoY?si… via @YouTube
🤷
Yes Pi, continued silence.
However, there is a "1" trade in there today for those who believe in RNS witchcraft.....
We desperately need some positive formal news.
GLA
Closer to what nothings been said.
Another week closer !
And another week rolls by 😴
Greenwolf - I accept what you say appears to be the case as we haven't been informed any differently. So frustrating that the nomad felt the need to issue that last RNS, which one has to say was misleading following the QGC publication re Kabwe being shown as an asset of Shuka.
Just have to wait and see and pray we don't have to wait another month.
Clues mean nothing at all, until we get that rns stating we have something we have nothing end of.
The clues are out there, check out the marketing prospectus for the F9 ETF
SP7 - I respect your sentiments.
But burn rate figures are the facts that we currently have, including from previous annual and interim reports that cover our rainy period. The BoD dont need to wait for the Annual Results at the end of June to give us tangible updates on our finances......
If there was absolutely no interest in Rukwa they should have ditched operations last summer, offloaded associated assets and then turned us into a shell, with a bucket load of money. Given the rainy season runs pretty much October to April, it would have actually made commercial sense.
That is not what has transpired, so Rukwa remains a cash burning millstone around our financial neck. Indeed the last RNS stated "Upendo shall shortly have their representative join the board as one of six directors of the local subsidiary and there is optimism that this will assist the development and progression of the Company's prospects at Rukwa" - that doesnt support a view that they are not interested in the coal mining operation and trying to turn it around as a going concern..
I dont work on rumours or conjecture and, to be honest, what's gone on recently around X posts, potentially false RNSs etc, we need a bit more professionalism and confidence from our BoD about what are the real facts.
And, as I mentioned, the RNS from 18 March suggests Rukwa is an integral part of the future - they need to clarify that because we've never made it work since October 2017.
This has the whiff of turning into another false dawn and only the right RNS will change that.
greenwolf - i don't for one minute expect the company to have been continuing to spend £120k per month because as i understand it, they are not interested in doing anything more with rukwa's coal mine, despite the agreement with upendo.
i say that because qgc and gmi invested in order to acquire a new battery metal asset, and *****on van der burgh knows that there is no point in wasting money on the coal asset, particularly seeing the mess that the previous management presided over, and from that history, you can see that no one was interested in taking the company's coal.
therefore, and with qgc's financial strength, as shown with marula, i am frustrated by the delay, but not particularly concerned about the kabwe licence purchase arrangements being adverse to shareholders.