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Paul Kabuswe's latest address to the media. It does tend to back up what Cattleman says about snail's pace, albeit well intentioned. https://www.facebook.com/Paulkabuswemp/videos/3431855757055964
M&G can't be very pleased with their investment here. I remember they bought the main chunk of their holding from Western Areas Mining, Bluejay's previous biggest holder, at 12p a share. They have added pretty much every time there has been a placing, including around 25m shares @22p early in 2018. Still, it's only money.......
I don't pretend to understand them either CT but as a number of us have already suggested, they will continue but with a new narrative: why hasn't drilling started yet; why no assays yet; grades aren't enough to confirm a tier 1 etc etc
Agree with all of that Oldslow, but it does seem that the company has grown rather quicker than its corportate structure has. Assuming all is well, that is something which will have to be addressed in the near future.
Https://www.facebook.com/profile.php?id=100069261307422&_rdc=1&_rdr A couple of decisions are imminent (Vedanta, Mopani) but perhaps there will be news relevant to us as well, or at least an idea of timelines.
F29: presumably related to the character who has practically closed down all serious discussion on the ADVFN board? But I'm not so sure, as Donkey's writing style and vocabulary seems to be different, and the ADVFN one finishes every post with ROFLMFAO. Whatever, I'm sure DevonianExile is right.
Both Tingos seem to be doing better today.
I did email him and he did reply, on the same day, and I posted here accordingly several weeks ago. I believe the situation remains the same, as suggested by Fulmar at 13.35.
Latest from Minister of Mines: https://www.mmmd.gov.zm/?p=2587
Good luck D-Y. The licences are clearly worth having; it's just a case of how much one of the bigger boys is prepared to pay.
I should have added they can ask for an extension, but I imagine that would only be granted if the authorities were persuaded that there was some prospect of them getting on with things.
Certainly other AIM listed companies have a much better record of responding to shareholders, so I can understand your frustration.
I see that on Friday, Sermisiaq was reporting old news as if it were new: https://sermitsiaq.ag/ilmenit-projektet-i-moriusaqhandelsaftale-plads . It reminded me that the exploitation licence for Dundas is time limited. If they haven't started mining by the end of 2025, the licence automatically lapses: https://govmin.gl/wp-content/uploads/2021/01/Exploitation-licence-2021-08-Dundas.pdf (see article 4.02(c)) Come to think of it, I wonder if they have complied with article 4.02(b). I suppose there may have been covid related extensions allowed to these deadlines, although I'm not aware of them.
Like what? 'The company knows no reason blah blah....'
Yes the share price is drifting, probably because the longer it goes on the less likely it is that there will be drilling this year. But fundamentally nothing has changed; they are still working through the CPs. If we were unable to satisfy the CPs then obviously that would be material news, but there's no reason to think that's the case.
IMO it was unfortunate that Nick was asked that question about days, weeks or months. He gave a 'best guess' answer but the question and answer were inevitably imprecise. After all, how could he possibly know exactly how long it will take to fulfill the CPs? I'd prefer to see the share price going up, but I'm happy to wait.
The most recent meeting of the Mining Licensing Committee was on 29th and 30th June and we weren't in that list. Looks like meetings are roughly once a month, so I guess there will be one near the end of this month if they are going to meet their target of clearing the backlog by 31st July.
I wouldn't criticise anyone for banking a profit, but remember the redemption facility in December should continue to support the share price for the next few months.
I'm trying to find words to describe the interview with RE. Probing? Forensic? Illuminating? Not really.
Going back to the fundraise of £1.3m, I see from the accounts that staff and director salaries came to just over £1.1m last year. They'll have to take some pretty hefty pay cuts if there is to be any left for exploration.
I hadn't looked at the website for a while until today. Surprising to see the Hannam research note from May 2021 still displayed prominently (target price for Dec '21 of 24p per share). Quite embarrassing for them I'd have thought.
Valueseeker, the Ministry have said that the backlog of licence applications will be cleared by 31st July https://twitter.com/ZambiaMines/status/1656676738708168706/photo/1
No guarantees, but I guess we'll hear by then at the latest.
I think the key point here is 'However, there can be no certainty that any binding agreements will be entered into with these investors.'
It will probably be a bit like the Master Distribution Agreement with a major Asian conglomerate for up-to 340k tonnes per annum ('tpa') of its designed 440ktpa annual output from Dundas. Anyone heard any update on that recently? Also the a major European bank to heading the financing syndicate for Dundas. How's that going?
Oh, and as I've mentioned before, what happened to the $7m raised last March which was 'to complete the necessary feasibility study required for the Dundas Ilmenite Project'. That didn't happen, but they no longer seem to have the money.
In retrospect 8p was too high at that time; the share price got a bit ahead of events. I take the point though, you would have thought there is more cause for optimism now that events have clearly moved forward. A lot of people here have a very short term outlook but that does of course mean a rapid surge in the price when good news arrives. (Imminently?)
Good idea WB. Nick has an excellent record of replying promptly to genuine questions from well intentioned shareholders.