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What is missing, I think for the first time is the sentence "However, there can be no certainty at this stage that Newgen will agree to defer or reschedule the repayment of its loan". I'd like to think that that implies things are about to be resolved, obviously not to our advantage... no mention of any thank you to the shareholders for "bearing with us"; never any acceptance that management were at fault for misleading the market, failing to hedge at a high price, or raising capital when they could have. Just confirms that they don't understand capital markets or give a flying f*ck about the owners of the company. Whatever the outcome, I am going to keep my shares at least until I can vote them against the re-election of any of this appalling BoD.

The very best of luck to you. I'm giving it 16 months, because I still believe the Kubold JV will produce results over the next year and a bit, but you may well turn out to have been the cleverer investor.

Painful as this is RNS is, I think for the first time (certainly since I bought in in 2020), we now know exactly where we stand and have a much better idea what the various projects look like. That they are having a cash raise isn't unfortunately a surprise, but I had hoped it would be further down the track when things were looking more positive. Against that, unlike the last management, they aren't putting out a super positive press release, having a rights issue then it turns out the press release didn't tell the full truth. They are actually telling the truth about where we are. I have lost (for me) a lot of money, but I think from now on things could look much better so I'm going to remain here. The Dundas debacle is appalling, but I get the impression we've now been given all the bad news and the new Chairman will be honest about where we are at. I hope I'm right.

I can only suppose that as the CEO who presided over the way the company was managed in the last few disastrous years, Bo was allowed to remain because they need him. GLA LTDs.

Appalling comms as usual, but presumably this is the gold offtake people protecting themselves - and who can blame them with our BoD/management.

Given that most company's go out of their way to make sure shareholders only ever hear as positive a spin as possible, it is likely worse than anything they have yet told us, I note that Toby and Brad hedged some of our production late last year at USD8,300 and USD8,330 per tonne, but last month the price briefly hit USD9,500... did they hedge more? No. Even if they had no choice late last year, it seems very odd given the situation. Based on their track record, one could be forgiven for thinking that both Toby and Brad are waiting for the copper price to weaken further before doing another hedge.

Things go wrong in mining companies - that's the risk we all take when we invest. What we can't mitigate against is being mislead combined with financial incompetence. The BoD only communicate with the people who still own the business... when they are forced to. Unbelievable arrogance.

Small disappointment Fulmar, but that's all. And credit where credit is due... Nick was able to get an RNS out before the final day (tomorrow 8th), which given he would probably have needed AA's approval, was a good move. For those who think AA is screwing us over; you couldn't be more wrong. The key to this was getting AA to agree the terms which NvS did last May. I take this as a done deal; just waiting for the ink to dry. In the end all we will have missed is a few weeks of drilling in the pouring rain... they can make that up quite quickly and its not much in the greater scheme of things. We're very much on the right track.

Dear Seis, would you please stop grouping me with Ella. I have no wish to have any association with that person or their consistently negative views, but if you're going to accuse me, as you do, that I am taking something out of context... what exactly are you referring to because I don't see it? Thank you.

Who'd of thought that only 4 trading days before the end of the 3rd 90-day DD period, that Arc's price would be 3.80-4.00. I can only assume that the market thinks there a reasonable chance of a further extension.

Hi Valueseeker,

I agree; that if the Company was going to have to do another extention, they would have been better off managing investors expectations and have already guided investors instead of waiting until the very last minute. The fact that they haven't is why I am still hopeful next week will bring good news.

I note that we still haven't had any news on the Botswana assays. I looked at last year's RNS's and see that on August the 15th last year, when they announced the second extension, they tried to mitigate the news with a headline about drilling started in Botswana...

"Maiden Exploration Drilling Programme Commenced - Kalahari Copper Belt, Botswana
Update on Anglo American Transaction"

Obviously I hope they are not just sitting on the assay results for the same reason, because holding back important information to manage the share price would be wrong.

As to a further delay, will be quite disappointed (and I hope its not another 90 days), but I very much accept they are dong everything they can to push this forward, but they are in the hands of the bureaucracy, so its not their fault - its the system. I was told by someone who is very close to Zambia, that when HH got in, he immediately tried to fight corruption with no compromise, but initially, the system, where corruption was embedded everywhere, just ground to a halt, and he had to start working with some of the less bad elements just to get anything done, hence some of the delays we've experienced. Its why, I was told, that he did those big announcements at the Indaba last year... he needed the big mining companies (FQM and AA) to give him some big wins to show the Zambian people that things are moving in the right direction.

The good news is that our deal will happen, its just a question of when. Seis and F79 and others, very helpful analysis. Thanks.

And Seis is right... if you've ever really believed in this story, its not truly happening until the discovery of a big copper deposit.. To repeat W Buffet... "Price is what you pay, value is what you get".

FK79 and Seis very sensible comments. I think the person before them was on the wrong BB.

Unless I have misread the Indaba website, I note that President HH isn't there this year, and they are sending the Zambian Minister of Mines. Duncan Wanblat of AA is speaking at about 10:45am on the Monday, but if HH isn't there, I don't see this announcement being driven by the need to announce things around HH as much as last year, so I think they will do, and always intended to do, what all big companies do with DD periods... the lawyers run it through for announcement at the end of the period; 8th February. I think the comments about AA being keen to sign as quickly as possible by Arc were always slightly disingenuous, even if done with Arc shareholders interest at heart; but that's not how big companies operate.

Anglo have their Q4 production figures out on the 2nd Feb and full year results on the 23th Feb, but since an investment of under USD100m, the figure of which is already public knowledge, I can't see how it is price sensitive to them, so I don't see any reason why they won't (hopefully) stick to the 8th. Until its signed, this is after all, driven by lawyers. Good Luck all Long-Term holders!

Nine business days until the Indaba. Obviously what NvS and Arc say when the JV is (hopefully) signed is going to be important, but the nitro glycerine propulsion we need under our share price will, I hope/expect to come from Anglo putting out an RNS and Duncan W starting to talk about in investor meetings and in his press interviews. It will be that, more than the institutional meetings Arc should be having in Cape Town post any announcement, important though they are, which I believe could be the game changer. So here's to hoping for an Anglo RNS or at least a press release when it happens. Onwards all LTHs!

Looks like we are finally on the 14 day countdown to our first stage lift off. Thanks to many of you, Seis, Fulmar, Kb and many others, for the ongoing and extremely helpful information flow. MIFID, and its impact of accessing broker research has gone a long way to destroying the ability of private investors to access any broker information about small stocks, or reason for brokers to cover them, so the ongoing commentary, especially on the licences has been worth its weight in gold. Good days lie ahead!

But on another note, and I accept its only a side issue because the AA deal is everything, has anyone got any thoughts on what has happened to the assay results from Botswana, or have I missed them?

Tony, that is extremely helpful, thank you. Personally I assumed that the Dundas report was so out of date that they have had to redo it completely, which is why we haven't heard anything yet; so be it. I hope on Enonkoski, the next time they put out a press release it is in English explaining what the future plan is. I am very excited about the Kubold JV, but I assume there will always be a delay in releasing news, because they will likely always first need Kubold's permission, and Kubold have to manage expectations with their shareholders as well. But all in all I feel we are in a much better space with the right person at the top, to which I must give real credit to a BoD I had lost all faith in. Very pleased to be able to eat my words there. Anyway good times ahead hopefully. Thanks again.

Thank you for posting. Really useful.

Hi MAD8, I still hold 700,000 shares and would be keen to add those shares to your discord group. Any thoughts on how I can do so? My previous posts will show you my views on the BoD and TB. My only uncertainty is whether they are fundamentally dishonest or just completely incompetent... or both.

I'm going to stick my head above the parapet on this on, because we have just entered a completely different world. Rob Edwards is about as good as you get. Expert mining, banking, strategic thinking and leader. Now as Exec Chair he will give management the direction they so desperately need. I haven't seen him recently but I have known him off and on for twenty years; he's the real deal we've needed for so long. Suddenly I feel that we are in good hands... my only concern is how much cash we have. GLA fellow Bluejay investors.

Extraordinary move in the share price down just before we hear about the deal. Any thoughts as to why? MMs playing around?

Clicking on that was both very enjoyable and very amusing!

Ant, while you are certainly right about the need to RNS material info timeously, there are two people in this deal, and AA still have to do the actual signing. They are unlikely to drop everything else just to sign this as soon as they hear from the Cadastre; big companies don't work like that; they'll probably need a week or so, and I would assume that they also have an important say as to when the news is actually released (and they've got the Q3 production numbers out on the 27th, so probably won't want to release just before then anyway). Obviously I am hopeful that this all ties in with the reason why our AGM has been planned for early November, and I think that means we are also nearing the end of the second 90 period, so everything could slide nicely into place here, but only time will tell. We've waited a long time for the goose to lay the golden egg..., few more weeks doesn't matter in the greater scheme of things.

Hi Seisnav, out of interest, are you expecting an announcement by the Company tomorrow confirming the licences, or are you expecting that we (actually the expert here is you!) will need to go onto the Cadastre website for confirmation? Many thanks. GLA LTHs!