Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
just to play devil's advocate here (I believe it's BMR selling down) but they are notthe only holder that had/has over 3%. 5th Feb 2018 RNS had Ashworth Global Investments 5.06% holding, with nothing since (willing to be corrected if that is not the case). could they not be selling down? Would only have to report if went below 3%?
Talking of BMR, there hasn't been any large trades for a while (except 600k on 19th).
would be good to see some larger buys at 1p and above
I said last year that I felt Sino were an obvious choice to take over the Western half of the Manica concession, having already established themselves in the Eastern half. However, with Moz Gold struggling, that probably put prospective contractors off, perhaps including Sino, which is why it's taken so long?
exactly IMO. why would anybody want to take that sort of risk when one company have already failed. It's much harder to find somebody new. I would have thought a better proposition was to take the machinery already there, adapt it ourselves, and get SINO to work that side also (if they are willing too of course).
doubt it. it just happens to equal a round £15k trade
does that mean you have asked XTR when the next update is?
What happens if contractors want to be paid, due to the fact that the mining results in the Western half have been unsatisfactory, as we know, rather than an agreement that benefits us without any cost?
Hopefully SIno will be pushing ahead and we'll see some consistency from them. We're due Q3 production results this month, next week IMO.
Construction by Omnia of its 40kt per month free gold processing plant completed, with commissioning planned in November 2018
Personally, I think that's what will happen when the alluvials are removed and the hardrock mine ready to go. He'll step aside and get somebody else in, however, until then, we just need a couple of SINOs to remove the aluvials.
Is there one?
who would run the company after he's gone?
People seem to forget that after the Chepica disaster, this share was on its knees, and the best way forward was to concentrate on Manica. Eveybody agreed. The alluvilas need to be removed so that we can get to the hard rock and the good stuff. If CB had said then, that he was to raise millions of pounds to remove the alluvials, there would have been uproar. There's gold in them alluvials. So, he sub contracted it out, ad we all agreed this was the best way forward, and that we hoped that we would get a small return for no investment. Unfortunately, it turns out that JN was right, and that the alluvials are very hit and miss, and this has impacted the contractors involved. Unfortunatley, we were hoping for a better return, but that isn't entirely CB's fault IMO. The alluvials still need to be removed, and I don't think a different CEO would be abe to do things differently, without raising more money. We might yet have to raise some money to remove the alluvials, time will tell, hopefully not.
Q3 hasn't finished yet.
Has CB tried to be too clever with the alluvials rather than just get them shifted? We just need the alluvials removed so that we can start on teh hard rock below. If we can get some payment for it, then well and good. Seems Sino have an agreement that works for both parties and they are getting on with it. Perhaps we should have same deal for the western area? Would Sino take that on too?
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no, but there was a 6 trade...and you know what that means don't you.
I hope the administrators can find something other than the company was badly run, and Vitol don't end up receiving the assets as payment for the debt. That would look very suspicious. Plus, it wouldn't surprise me if current BOD are still running the show in a few years!
I agree. Good luck.
Hi Redbike. My point was that many here said they had written to the FSA and not had a reply, or were fobbed off. Did the FSA advise you they were going to look into it? I voted no to all resolutions, but did not write to the FSA. I admit to being a bit niaive to what is happening, but I can see that the BOD have not been working in the interests of the shareholders for some time, and look forward to an alternative.