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IMHO - SloppyG has noticed something significant in the RNS "......today's RNS the first formal reference to the asset being expropriated....."

I suspect that the lawyers may want to bring into the claim the behaviour of The Moroccan Office of Hydrocarbons and Mining (ONHYM) in giving licences to OCP for Potash Mining at Khemisset, when Emmerson might have had the better claim.

This would help in evidencing a "pattern of behaviour" as well as increasing the headline claim figure from $2.2 Billion to maybe double the figure.

https://en.hespress.com/78552-ocp-launches-potash-project-in-khemisset-in-bid-to-expand-food-security.html

https://northafricapost.com/74667-moroccos-ocp-plans-potash-production.html

Kore was suspended on JSE mid-Day @ ZAC 64.00

JSE closed today

Meanwhile OCP are in robust health. I wonder where they could invest all that money ?

https://millingmea.com/moroccos-ocp-group-invests-us14b-to-expand-operations/

https://en.hespress.com/108934-ocp-sets-precedent-with-1-75-billion-bond-first-investment-grade-eurobond-since-us-tariff-announcements.html

https://www.moroccoworldnews.com/2024/11/167967/ocp-achieves-strong-financial-growth-with-revenues-reaching-6-8-billion-in-september/

Given Trump's need for Big Wins in various policy area's. You would think that getting the Alaska Pipeline under way, with substantial investments from Japan and South Korea, would be the catalyst for a getting a fast decision on the EIS for Kodiak (which on paper has the most gas) also. Tail wagging the dog ?

The obvious number is US$ 2.2 Billion taken from the RNS 1 February 2024:

Scoping Study on Breakthrough New Processing Route

https://www.lse.co.uk/rns/EML/scoping-study-on-breakthrough-new-processing-route-k6wv2789hdm2uzy.html

Thanks, that is useful in joining up the dots. So I guess we await 30 April.

Given that DFC was established during Trump's first term with the purpose of countering Chinese investment in critical areas abroad, it would be unlikely to be the target of 14169. However, it is possible that DFC will have chosen to review its activities to ensure they are not in any way counter to Trump's intentions.

"DFC was established through the BUILD Act with bipartisan support during President Trump’s first term, building on the need for increased private sector investment in emerging markets, enhancing U.S. global economic leadership, and countering China’s presence in strategic regions."

14169 Impacts USAID, but not apparently other agencies.

https://www.state.gov/implementing-the-presidents-executive-order-on-reevaluating-and-realigning-united-states-foreign-aid/

As far as I'm aware payments are not officially frozen. The other possibilities are that conditions have not yet been fulfilled for a payment or that payments are otherwise delayed.

The various elements of the foreign assistance architecture (USAID, MCC, USTDA and DFC) face the prospect of reorganisation with the DFC probably gaining responsibility in any reorganisation.

https://www.csis.org/analysis/clock-ticking-dfc-reauthorization

https://www.cgdev.org/blog/trump-administration-serious-about-merging-dfc-and-mcc

Blencowe is funded by the DFC (U.S. International Development Finance Corporation) not USAID (U.S. Agency for International Development)

https://www.devex.com/news/devex-invested-what-us-foreign-aid-chaos-means-for-dfc-109180

PaulFG - I agree Rutile is much easier to value than Graphite, as Graphite is a much harder sell (think of all the effort required to get off-take).

It is also worth noting the differences in the drilling programs at BRES vs SVML. At SVML their drilling effort is entirely infill (i.e. to convert Resources to Reserves). New JORC estimates are expected imminently.

BRES on the other hand has about 40 (out of 228) drills that are infill, the remainder are step-out (i.e. new areas) drills.

So BRES will upgrade the Reserves in the previously drilled area, and also increase the total Resource to between 50 and 75 million Tonnes.

The fundamental difference in the amount of infill drilling needed is due to SVML having lower grades of ore (about 1.4% Graphite and 1% Rutile) vs. Bres (approx 6% Graphite).

SVML £233 million Market Cap, BRES £9 million Market Cap

If you compare SVML and BRES you will see that both have 24.5 Million Tonnes JORC Resource of Graphite, in addition SVML has 17.9 Million Tonnes of Rutile Resource (which in value terms is worth about the same as their Graphite). Both are working to establish JORC Reserve figures. This simple comparison indicates how cheap BRES currently is.

The RNS came out at 16:40pm and my broker wanted all orders by 18:30pm, so not much time to react. I guess several will have missed the offer altogether, given the timescale. I'm very positive about BRES, not only the massive scale and quality of the resource, but starting at a much larger scale than previously planned. Being able to buy additional shares at such a discount was a huge bonus.

So, £ 1,488.5 plus 0.5% stamp = £ 1,495.94 before dealing !

Really, so on a recent trade 20,000 bought at 2.976p = £595.2 saving £4.80 before dealing costs !

You need to look on the London Stock Exchange site if this happens. In this case London South East are missing one small trade (50k shares). Nothing suspicious, just a fault in the feed from the market. On occasion trade reporting is delayed or halted entirely here.