RE: Why the drop7 Oct 2017 10:12
RNS seeming positive "on the face of it" has been and remains the problem... here are just a few of the many RNS gems that have contributed to misleading shareholders. Hope it helps.
25th Nov 2016 ::: KENV is pleased to announce that it has been informed by Aftan that the TVM is now at a commercial production level, and remains on course to hit the targeted throughput rate of 15,000 tonnes per month.
Aftan has also confirmed that the plant upgrade programme is now in its final stages, with the installation of a milling circuit underway, which is forecast to complete in December 2016. This is predicted to increase the recovery of fine tantalite. Upon completion of this phase, the TVM is expected to be cash flow positive. Full production at an increased mining rate of 15,000 tonnes per month has been targeted for Q2 2017
Renier Swiegers (what happened to him?) says ::: �Full commercial production at the increased rate of 15,000 tonnes per month is on course to begin in Q2 2017,�
Giles Clarke says ::: "The upgrade was an important and essential part of Aftan's strategy to deliver real returns from the TVM and it is quickly approaching a cash flow positive position through the sale of high grade tantalite.� (Note: there had been no sales of high grade Tantalite at the time and no sales were close)
Jan 25th 2017 (Larry now in) ::: �Importantly, this will allow for the completion of the construction of the fines plant without disruption in the coming months and ultimately ensure Aftan achieves its higher throughput target of 15,000 tonnes per month, higher production output and sells additional higher grade tantalite to its offtake partner. Aftan has informed us that it still expects to be operating at these higher levels by the end of Q2 2017.�
March 27 2017 ::: �Full commercial production at TVM is expected to start in Q2�
June 30 2017 (end of Q2) � �In turn, we expect this will deliver value creation in the near and long term as Aftan aims for full scale commercial production in Q2 2017�
Amended same day to :::
�In turn, we expect this will deliver value creation in the near and long term with Aftan having now reached full scale production.�
So just in time they confirm and indeed emphasise and clarify via an amended RNS that Aftan has in fact reached the full scale production, we'd always been told was 15kt per month, bang on revised schedule end of Q2..