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Aug 2017: “anticipate it to be finalised in the coming months....will be delivered with a quick outcome”
Sept 2018: “scoping phase of PFS well advanced”
Sept 2019: “priority to progress the PFS”
2.5 years after the feasibility study was started, and which was supposed to take months - SILENCE
Would anyone buy in at sub-2p?
The EIA “will continue in the month of February...” and March, April, May, etc etc? A bit like the Moz PFS which was going to be completed in ‘the coming months’ two years back?
Even allowing that it might be a translation, I think that newsletter reads like a work experience report written by someone in lower sixth using 10 words where one will do in effort to sound clever.
Brexit has been won. Time to concentrate on climate change denial!
:)
Welcome back, Weldon...
Zombie joke - covered in jam...
Essential news at last!!
Classic sign of a Zombie company. Going nowhere, doing nothing, broken promises, missed targets (repeatedly), existing only for the benefit of the wage earners, sorry - I mean wage collectors.
No news is bad news...
I really don’t mean to be funny, Osaka, when I ask ‘so what?’ re; EIT position statement. I’m less interested in the jam next week story, and more interested in why we’re still waiting for last year’s jam. Think the company name should actually be changed to Jam Tomorrow Resources (ticker: JAM)...
Thursdays are common RNS days here. Will tomorrow bring any updates on progress on the damaging problems being experienced, or some long overdue news on why these projects are so far behind schedule. The continuing silence is extremely worrying for anyone invested here. It looks likes this company is either going to go down with all hands or issue a monumental dilution.
CM: I agree. The purpose of the PFS is to support the decision you’re talking about. It should also start to inform how much you need to raise to get your digging underway. Without it there’s no decision. If you can’t afford to finish it you need to raise funds. When the company refuses to comment on progress you have to draw your own conclusions. My conclusion is that Portugal has just been upped in the risk assessment, Oman is an embarrassing farce where most people are pricing 0.0p into the SP, and Moz is starting to look like a dodgy secret. Must be time to announce a drilling program in Finland (remember Finland...?). After all, some meaningful activity promising jam at some point in the future is becoming the only purpose of the company - to keep the BOD in clover.
The Portugal risk shows exactly why we need to end the cover up regarding the Moz PFS. Moz could be the Plan B that needs stepping up, especially as Oman mining op’s is increasingly another dirty little secret that someone is keeping.
What are we hiding? I can understand this item being put on hold pending the issue of licences, once the delay became ridiculous. But this was originally reported as due to be completed “in the coming months” two years ago, long before we expected the licenses to be issued. We expected it to be delivered before the licenses were given. In September last year this was “a priority”. The first license was issued a month ago, which should in itself have been reason to update us. All licenses now issued. The fact is that completion of the PFS increases our stake from 20% to 35% - this is serious stuff and seriously value-adding for investors who’ve been incredibly patient here! The silence absolutely stinks to high heaven! My bet is that the BOD is working on a massive dilution to fund it. Get some news out, Archer. Shareholders are going to see ABSOLUTELY ZERO added value as a result of this.
Save me some time please: will there be a final divi in May and a first Q divi in June?
Issuing mining licences took 18 months longer than expected, if I’m not mistaken? The PFS was started 2.5 years ago and was supposed to take “months” to complete. The delay in issuing ML’s cannot be why the PFS hasn’t been delivered. Completion of the PFS increases our stake here from 20% to 35%. The company is refusing to speak on the matter. Are we being ripped off?
Aug 2017: “anticipate it to be finalised in the coming months....will be delivered with a quick outcome”
Sept 2018: “scoping phase of PFS well advanced”
Sept 2019: “priority to progress the PFS at Mutamba”
Come on then - where is it??????
Silence is golden...
CM: An alternative proposition could be that an 8% increase in production elsewhere and Richard’s Bay reopening after a closure could be that the last thing RT needs is another ilmenite mine. Wouldn’t be too hard for RT to start foot dragging, scrutinising the contract for get-outs and sending ‘out of office’ replies to all emails in order to bog this down for a year or two. And I’m sure DA won’t grumble while he continues to pocket a wedge every month on the promise of jam tomorrow. Something we’ve all got used to round here... how long is it since people bought into the whole “DA doesn’t take a wage” excitement? 5 years?