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They're claiming they're owed 5 % of the TML deal, so surely they should be going to TML if they haven't received it? Not asking for 5% on top of the TML deal, as it was TML they had shares in. Regardless, their 5% of the deal would equate to just over 5mil shares and $227500 dollars, so nowhere near what they were asking for.

Their actions have wiped out that amount from value from the share holding they say they're due, the clowns.

As for the environmental 'issues', are they surprised there is a big hole in the ground now?

There's just zero appetite for risk on the market at the moment. I can't see it having any significant moves until it becomes almost certain it's going to move into construction (or not), especially due to the unique nature of the graphite industry supply chain. Personally, I'm happy to build a holding at this level, then always add early into any rise if it the build gets signed off.

Looks like someone or some people has been refused a kick back and now they're throwing their toys around. Either way, it's good the company have stood their ground. The drop is way overdone for the amounts touted and a good buying opportunity.

To start up this business and get it to the level it is at would cost more than the equivalent of £2 per share. However, you can't look past the fact it's sat at £1.10 a share, so unless there's a bidding war, why would someone pay nearly a 100% premium to take over the company? They've stated they're open to selling, so there's no need to build up a position to force a takeover. I don't think anyone will lose from here, and although I hope I'm wrong, I don't think any buy out would be at much of a premium either. That's down to more of a sickness in the UK stock market than the company, which is under appreciated.

Twitchy phone....It will be interesting to see what the plans for the new licences are. They may be thinking it will be cheaper to develop one of those concessions in the medium term as well?

It will be interesting to

I think the other positive is there are other mines in the region processing similar ores types. It shows it can be done in a financially viable manner, plus you can get ahead of the curve by learning from their processes.

I think investors are looking for three things. Debt free, LOM extension and dividends. The first is coming very soon and should see an uptick. The second and third are unknown timeline wise but very likely. When these happen, the 'safe' money arrives and the price goes up significantly, IMHO.

That's unfortunate. I sold GGP before the big run up, so feel your pain.

I'm purely talking about the scale of the cost of building a mine from scratch as opposed to expanding operations at an existing mining site.

If you need to build a new shaft, or pit, as part of expanding the life of an existing mine, you're not starting from scratch. An exploration site, even up to DFS, is usually not much more than an open area which has a few holes drilled in it, you need to build the roads, get power infrastructure to site, build the processing plant, mining camp, all the new equipment etc. Anyway, we agree on the approach of paying out dividends and part fund using finance, so that's the important bit. I hope your investment goes well, as it means mine will be as well.

Bear in mind as well, expanding a mine is significantly different proposition to building an entirely new one. The bulk of the processing equipment and infrastructure is already built, which is usually bulkmof the expense.

That, unfortunately, is the reality of investing in junior miners in Africa. It's risky, what seems like a sure fire bet might not be and entry point is everything. From my perspective, this is a company that's now pretty much debt free and still pumping out an awful lot of cash and likely to e for a while. From a risk reward perspective, even if things don't go perfectly from here they still have a lot of options to grow the business.

I'm just responding to the point you yourself made, intended as a negative against the company,that they might not even make enough profit to fully fund the new mine, when this is an abnormal situation for any company. To even consider that a junior mining company may be able to do this demonstrates how much money it's making compared to many of its peers.

To answer your question, when they're in a position to pay a dividend, do I think they should do that and partially fund Douta with project finance? Yes I do.

Partially finance new mines with cash, absolutely. But to finance a mine 100% with cash reserves is unusual.

How many mining companies build new mines purely from cash reserves? Genuine question, as it can't be many. Even the big guns will use project financing.

They'll bail at some point soon anyway if their approach is to trade hoping for news before an AGM. If good news arrives, it's an irrelevance.

Positive that the best interval and grade was from the surface.

Hopefully they'll have some updates in their AGM statement. Another day like yesterday's volume with low sells and it'll hopefully hit the 1.8 -2.75p forced seller range.

They haven't diluted since listing, so I can't imagine they're going to start now. Whenever they've needed money, they've taken loans.

If the sells dry up, there's little resistance from 1.8 to 2.75 so hopefully it will move quickly.