You are right. A lot of excuses made for the situation, but she must realise a country grows through inward investment and by not removing the blockages I.e. the ML award, then she is effectively stopping the economy growing. Maybe there is another reason but it certainly does not look like it right now.
RE: Better foreign investment climate under Samia Hassan25 May 2021 10:45
Sorry you cannot keep making excuses for an inefficient organisation. She was the deputy, was she kept in the dark ? With the company having satisfied all requirements it should be a rubber stamping exercise and that should take micro-seconds. There are people in the mining licensing department that need removing.
The events of this week would make JLP a good case study in the business school. Started with a spike in the SP, presumably because a buy order needed fulfilling and then the drop in commodity prices instigated by China, then in the background the market manipulation, spread changes etc. JLP goes sailing on with no changes that would suggest a change in SP is justified. The joy of investing in AIM.
RE: I raise you 'African' Mining!10 May 2021 14:41
I raise you ROI. Churchill mining will give you chapter and verse how a ML was effectively nullified and the mineral deposit passed to someone else. After seeing that and knowing WTO handle disputes through the same process, WTO lost its appeal. I agree 100% about ACP’s ML but was assured on this board the new President is very diligent and will grant the ML, I just wish she would.
The ML at this stage is a simple procedure to progress. I take on board the delay because of the Presidential transition ( why she should be involved in such a mundane thing is hard to understand, but if she lacks competent people then someone has check the fine detail ). I would point out investment capital is always seeking opportunity and if JLP misses the boat then so does Tanzanian and its people. Let’s hope the ML gets progressed soon.
Until the ML is granted this company will stay firmly parked in a cul-de-sac. Is Tanzania not interested in inward investment ? All their mining officials ( with some notable exceptions ) seem to be dragging their feet as an ML application with so much already inplace and approved should have been granted by now. Why the delay ?
JLP signs a deal with Caerus and their SP bounces too over 25p and JLP’s hardly moves with a spread of 2.87%. What is going on ? A paid broker producing a highly questionable report that under values JLP. Why ? It gains a bit then falls back, the logic of what is going on defeats me, particularly the size of the declared spread.
Dorfan01. I agree with you. A poorly researched brokers note seems to have triggered a drop. If it comes out that WH Ireland has been a major buyer during the drop then they will be the subject of close scrutiny. It makes no sense to issue a note that is so questionable, so is it carelessness ? or something else ?
Given the fair value for JLP is quoted at 24p, I wonder how they can quote such a low price when the company exists in such a dynamic environment constantly looking for new deals and acquisitions that add value. Given that 24p is clearly on the low side why is the SP bouncing about so much with spreads at such unusual levels.
Theoretically by the end of this month we are owed a six month update and coincidentally that is nine months since the mining license application was made. Since the real value will not be realised till mining can occur so the ML status is critical.
Trying to anticipate what the spread will be needs divine intervention. Today the SP increased 3.82% but by increasing the spread to 3.52% a greater part of the increase was annexed. Everyone has to make a living but jacking up the spread is hard to justify.
I am trying to make sense of the share price spread. It seems to be bouncing around at levels that make no sense. It is currently 0.4p when 0.2p seems more realistic. I would be interested to have others views.
This license is the springboard to future gains. Sit tight or if the panic merchants manage to force the price down to something you cannot resist, fill your boots. I just wish the progress to getting the license was clearer.
If memory services any further dividend will be deducted from the 685 offer price. I am not sure if there is a cut-off date for due diligence or any financial penalty if the process is dragged out for a long time.
The directors have really not done the rest of us any favours. In cashing in their shares in such large quantities , with out any real explanation as to who was buying them, they have triggered more than a 10% reduction in share price. Maybe they would like to explain their strategy.
Exactly. Been with them for a while and seen a lot of false dawns, but the promise to get the license is stopping the company in its tracks. Is it down to the company not fulfilling the conditions or is a “culture” issue ( if you can read between the lines ). I hope it is the former as that is something that can be sorted and quickly.