STRONG BUY?5 Feb 2023 10:11
Looks like TW remains confident (even more so!) about the future. He quite often in the past has participated in fund raises here. Would he be 'upgrading' his opinion at this stage if he was aware of a near term placing?
'Though an admitted “much longer period than we had anticipated” for project development demonstrates the clear risks, with clear progress being made in Ethiopia and a recent drive to expand Saudi Arabia’s domestic mining and metals sectors which has led to heightened interest and could directly benefit the shares with a dual-listing on the Saudi Exchange being examined, we continue to consider that these shares could treble or more from here on delivery of the above. With the current vast NPV discount, our stance at 0.8p is upgraded to STRONG BUY.'