Member Info for CF73

Indeed BigD

I would that a) everyday there's detail of some kind emerging and b) quite critically, what looks like bad news isn't necessarily anything more than noise. I find this additional information useful. But because it's not providing clarity on the main questions and issues - only seeming to support a narrative of one where we up the creak - some folks interpreting any new information as damning bad news.

The news we got is perhaps to be accepted as part of what's going on. And to date, I've come across nothing that this has been completely lost.

Am looking forward to a possible Jan 2020 time line for some sort final resolution regarding arbitration (if reports regarding ZM's comments are to be believed)

That's one possibility Fibber. Have thought that too, as have a few others I think

Am no expert on such matters but you make a good point. Am guessing work contracts must be specific to whichever entity and so if those entities come to an end, stands to reason any employment directly under those entities will be affected. In other words, the possible liquidation of those entities is a plausible explanation for those folks losing their jobs (plausible at least to my mind).

Got to remember that it was only recently that Mugabe was in charge. So whatever happened back then, after he went, it would've been a case of starting over. literally, with new Ministers, new policies etc.

Am in agreement ODR on this and the reason for this is that we now have more information than we did before. And while that information paints a very complex picture, it shows that FRR are still alive (however frail-looking) and that they are working towards a plan/ strategy, even if on the surface things look to be all over the place.

Things would've been so much easier had YA, Hope and Shorters had not attempted dirty games simultaneously. But they did. That kind of thing has brought down other companies. However, we're still here and inching towards a finish line that will only become clear when we cross it.

Good luck all!

Thanks for sharing BigD.

We continue to have to interpret from what little we can discover/ find. One thing that is worth remembering is how there is pressure being applied at the Governmental level via the protest outside the US embassy. Also, worth remembering that there is that January 2020 deadline (from Prod's post?) for resolution. So we not going to hear anything till then.

We're inching our way towards something, which pretty much sums things up...

Laandon74, did you see what you just did?!

You proved my point...

Laandon74, like so many others, you turned up here very recently, have offered no constructive research or insights and have done nothing but repeat the same tired negative lines.

Feel strongly, as other LTHs do, has got to be this week.

Is worth remembering that VAST and upwards of another 30 or 40 companies are waiting for their EPO sign-offs -- and not just PREM. There has been abosutely no news regarding anybody else getting their EPO signed off.

Zim Government strategy was never obvious previously but is clearer to me now. When considered alongside news the last couple of weeks regarding efforts to accomodate, support and appease small-scale miners - the very groups that objected to and held up those EPO applications - it points to why we have had to wait. They wanted to make sure they negated any potential political issues over the granting of the EPOs. With small-scale miners having been given prominent space at the very recent Mining Indaba and with setting up of the 'Desk' at the Ministery to deal with matters specific to small-scale miners, they have done that (by being seen to be supportive and seen to be taking action). PREM, VAST and others have had to wait but this will have been forgotten when news lands.

Brilliant stuff Charlie, as it should be :-)

I don't see that risk, especially as the Mining Minister has already leaked the EPOs had been approved. The president's rubber-stamping is a formality to me. The taken to get sign-off is, as I interpret it now, as a result of Zim authorities having had to appease small scale miners, which they have done, giving them sufficient prominence at the mining Indaba abs subsequent government arrangements. These small scale miners were original objectors to the EPO applications. They were the hold up. But government dealing with them was a much bigger issue than just EPOs. It was the administration being seen to be putting Zimbabweans first. Something crucial given related controversies and general social and economic malaise. With this all done, Zim authorities are free to press ahead with those EPOs knowing there will be little political blockage now.

Another awesome series of posts tedoby! Hugely appreciated! :-)

If FRR ever relisted, it could only ever be a good thing (let's just say we wouldn't be relisting so shorters could have another crack). If the company therefore relisted at 0.32p, I'd throw everything at this, no questions.

I've posted this about small-scale miners as they have a sizeable role to play in mining in Zimbabwe. But, also, this is very poltiical. Objections holding up EPOs were from these small-scale miners. Recent efforts in regards to Zim's small-scale miners seems to me to placate and/ or enocurage them, bring them on board, so that eventually those EPOs could be granted without a politcal storm. It is clearer to me now that this work around involving and encouraging small-scale miners has had to happen first, at least in the political sense, before the EPOs were granted (at least, that this seems to have been the preferred route for the Zim Government - and I definitely see the value in this).

What it points to now is a clear path to EPO approval and am very confident we will hear this coming week.

Good luck all!

I note from one news report of the recent Mininig Indaba, that the president attended:

"One big thing to note is that the small-scale miners were excited to interface with the Head of State and government, the chief principal of the mining sector. It was an inaugural event"

Also (from ov 9th);

"We are glad to announce that my ministry has opened what we call the small-scale miners desk,” Chitando said at the just-ended Zimbabwe Miners Federation (ZMF) annual conference in Gweru.

“This is a department that will have the sole responsibility of dealing with all issues affecting small-scale miners. I am glad that President (Emmerson) Mnangagwa agreed that we open this desk and it will go a long way in improving production by the small-scale miners as their issues will be quickly addressed."

https://www.newsday.co.zw/2019/11/govt-opens-help-desk-for-small-scale-miners/

And then from today:

"Chitando said government has strong hopes for the small-scale mining sector to a point where a desk for small scale miners has been opened in the ministry.

Government is even proposing to have weekly meetings between the Ministry of Mines and ZMF."

"He said government wanted, “miners to play a bigger role in the mining industry and a bigger role in the economy of Zimbabwe.”

"His comments follow similar sentiments by President Emmerson Mnangagwa that artisanal and small-scale miners were key anchors of the national economy."

https://www.newzimbabwe.com/chitando-anchors-us12-billion-ambition-on-small-scale-miners/

Agree that 10 months is a lomg time to not get paid. Most ordinary folks would struggle after 3 to 4 months. 10 months is crazy.

Would think negotiations around this, includig tax rebate, and as far as arbitration has been concerned, GG's own efforts have made it harder for FRR and that this could be argued quite easily, I wouldve thought.

Great stuff Charlie!

We are due a Circum update this side of the New Year, and even perhaps this month...

There's a lot going on right now, a good time to be holding and waiting.

Zim have said that if they can realise potential, they could secure upwards of 20% of the market share of global lithium supply.

Zulu EPO will be a key contributor to this.

Very much appreciated Prod, this is great! Is really encouraging to hear the company is still alive and kicking, even if things continued to be complicated. Feel some sort final resolution is not far-off.