Member Info for CF73

Well said IQ157 and Strongman.

News was never going to arrive first thing Monday but news remains imminent and nothing to suggest that it won't be positive.

Exxon have openly declared they're in West Georgia. That can't and won't as yet declare they're in East Georgia because that's where the real work is ongoing, with FRR, and as we know, subject to an NDA until they are ready to release news.

BH MOU with FRR was the first step. Next will be the announcement of the respective Super Major. Many, like myself, believe it is Exxon.

Good luck all!

Derampers, what they do for a living, how they must describe that on their CV?!

...possibility of a compensation...

...that was never in the equation but if emerges than great stuff...

...news remains imminent.

Good luck all!

Thanks for feeding back Charlie,

A few of us have already said that it'd be unlikely that we'd get an RNS Monday first thing. Even if they had heard back Friday from the authorities, the RNS has to be written and then reviewed by the NOMAD. No chance today. High possibility Tuesdee, with Wednesday the latest for me.

Good luck all!

Good luck all!!!

From the RNS :

"In particular, the MoU sets out certain prerequisite conditions to enter formal tariff negotiations including the finalisation of the JDA with the Company's potential strategic partners and the receipt of binding engineering, procurement, and construction ("EPC") and operations and maintenance ("O&M") contracts [...] "

In other words, JDA needs sorting before the project moves any further with the authorities.

Great stuff!!

This is coming together very well :-)

Loan restructuring approval at AGM a formality. Get it done and move on quickly :-)

Excellent news!

Wolf.it isn't hard to understand for some folk - but there are those who do need it spelling out. PI expectation are far too often out of the kilter with the real world (as you already know)...

Hammered, there was a fake email on twitter suggesting that an RNS was with the NOMAD. However, further contact with the company/ GR proved that to be falsified.

If we are being realistic, then sign off by end of day Friday. Monday perhaps to write and check with respective parties and the release. Could be Monday, more realistically perhaps, Tuesdee.

Also suspect that news of JV will be released separately/ later, given expectation of some kind of news on RHA ownership. The JV negotiations, though advanced (at least we expect them to be), still need to slotted in and adjusted once ownership is sorted. That RNS needs writing and checking with all respective parties.

All of it takes longer than we prefer and certainly longer than most expect.

All this said, good week ahead.

0.60p to 0.70p this time next week. That's without news.

Since when did company guidance say we would receive news tomorrow/ Monday Darkelf?

regdik, appreciating all your posts - keep em coming!!

The Sunday Telegraph article, with whatever else we can find on Zimbabwe economics, just reinforces how hard it is to get anything done in Zimbabwe. Whether there is political will or not, the new government is having create new departments while simultaneously not having the right qualified, experienced people in place, and probably in turn, very reluctant to approve anything as they haven't got a clue and don't to get anything wrong.

Against that backdrop, GR has moved RHA to sign-off (which I believe will happen) and subsequent deals

News may not lad tomorrow but we are now talking days (and I certainly expect this week)

Good luck all!

Agree regarding Zimbabwe still being a difficult investment proposition. Unless you're a large multinational, can imagine the authorities would be slow to process anything. Indeed, range of problems to do with Zimbabwe are forcing mine closures and other issues. So if we get news of RHA sign off, GR will actually have done rather well.

From another article, get a sense of the challenges in terms of [foreign] investment required in the Zimbabwean mining sector

---------------------
29 Oct 2018

[...]

"According to the Chamber of Mines of Zimbabwe, the local mining capital requirement from 2018 to 2020 is $7 billion, showing the need for foreign investment."

https://bulawayo24.com/index-id-news-sc-national-byo-148440.html

This article demonstrates the various problems Zimbabwe have been facing and why they have needed to get on with RHA. Must be looking bad for the government out there, especially with unemployment levels.

--------------------------------

https://www.iol.co.za/business-report/international/zimbabwes-riozim-shuts-mines-over-dollar-shortages-17722952

Zimbabwe’s RioZim shuts mines over dollar shortages

31 October 2018, 9:15pm

HARARE – Zimbabwe’s gold miner RioZim has closed its three mines due to a shortage of dollars, the company said in a letter to the central bank seen by Reuters on Wednesday.

The country, which adopted the use of the US dollar in 2009 to tame hyperinflation, is gripped by acute shortages of greenbacks. Prices of basic goods, public taxis and medicines have risen in the last few weeks.

RioZim is the country’s third biggest gold producer and early this month threatened legal action to force the Reserve Bank to pay it more US dollars for part of its output.

However, the firm has not yet filed its case against the government.

RioZim chairperson Lovemore Chihota told the central bank in a letter dated October 28 that the company had run out of critical consumables and spares required for its mines, forcing the shutdown.

“This disruption is very harmful to us all that is our employees, our creditors (and) the government of Zimbabwe,” Chihota said.

Chihota and central bank governor John Mnangudya did not answer their mobile phones when contacted for comment.

Chihota said in the letter that RioZim should be allowed to retain all its sales earnings in US dollars when it restarts operations and 60 percent thereafter.

Producers sell gold to a central bank subsidiary and are only allowed to retain 30 percent of their dollar sales. Mining companies say this is inadequate as local costs soar while some suppliers have begun to demand U.S. dollar payments.

Reuters

bedex, I don't mind the odd post with the link and discussion around it, but htere's pages and pages of this.

Folks need to take it elsewhere.

I wonder if itsallamess is John.L...