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We just need management to show some managment - seems out of their grasp

Ever hopefull

What’s happened to the quarterly production figures? Last year, they were posted on 29th May.

Surely, if they were good, they would be rushing them out.

Expect higher oil prices to be paraded alongside another unexplained drop in production.

I’ve had friends who have written their PhD theses quicker than this company is writing this prospectus. What are they playing at? It’s not like they are even busy. The p**s-take continues.

Honestly, I’d treat it as a yellow-to-red flag, depending on what they are posting.

There is nothing wrong with a listed company posting photos, site progress, equipment arriving, community updates, or general operational colour. That can be normal investor relations.

But if they are using photos and vague “nearly there / great progress / exciting times” posts to move sentiment without putting hard facts into an RNS, I don’t like it.

For a UK-listed or AIM company, the basic principle is that genuinely price-sensitive information should be disclosed properly and fairly to the whole market. The FCA describes inside information as non-public, precise information which would be likely to have a significant effect on the share price, and says one proper route for public disclosure is via a regulatory information service. AIM Rule 11 also says an AIM company must notify the market without delay of new developments that are not public knowledge and would likely lead to a significant movement in the share price.

So my view is:

If the update is not material: fine, post the photo, but investors should not overread it.

If the update is material: it should be in an RNS/RIS announcement, not hidden in social media crumbs.

If it is being done to “tease” the market: that’s poor governance at best and potentially dangerous at worst.

There is also specific guidance around AIM companies and social media. The key point is that publishing via social media is not a substitute for a proper market announcement, and if a company leaks or drip-feeds price-sensitive information to condition or move the market, that may constitute market abuse.

From an investor point of view, I would discount teaser posts heavily unless they are backed by formal announcements with measurable facts, such as:

production start date

tonnes produced or shipped

cash received

signed offtake

regulatory approval

plant commissioning complete

named counterparty

revenue guidance

updated financial impact

Photos can prove activity. They do not prove commercial success.

The blunt answer: if a company keeps using social media to imply progress but avoids RNS-level detail, I’d assume either the progress is not yet material, not yet confirmed, or they are trying to manage sentiment without being pinned down. None of those are brilliant.

I read it that its very much the case 98% of the roles are filled by Zimbabweans and that they should hold roles across the organisation - not just be found as the labour but also as the "brains".

I was also taken by this - "All small scale mining operations must transition to large scale statues by 1st Jan 2027 or exit."

I think Zim has lost patient with the promises and now is cracking the whip to get the delivery.

Remember the president of the country "opened" our mind two years ago and so far, we have produced not even enough to fill a bag!

This is an interesting read https://miningzimbabwe.com/zimbabwe-orders-mines-to-appoint-98-local-management/

Just seen this on X

#ZPHR CEO Colin Harrington took to the stage at the Edison Group Growth Conference in London last week as part of the HALO panel – a discussion on why Heavy Assets, Low Obsolescence businesses are one of the standout investment themes of 2026.

Share price down 34% in a year. I wonder how well people listened to the discussion? Not really talking from a position of strength and success on this topic, given the track record of the last five years.

Or lack of news could be becaue nothing has happend.

The Second Republic is delivering on its development promises, with the 172km Cross Dete-Binga Road set for major rehabilitation this month. Two mining companies have partnered with the government to accelerate road works, demonstrating the government's commitment to inclusive development. Matabeleland North Minister of State for Provincial Affairs and Devolution, Hon. Richard Moyo, on Friday met representatives of the two companies: Kamativi Mining Company (KMC) and Muchesu Coal Mine together with Binga Rural District Council chief executive officer Mr Joshua Muzamba and provincial road engineers to workout how the road rehabilitation project could be expedited. Cross Dete-Binga Road is one of the major highways, which Government has identified as a critical road in need of urgent attention. The route is a key link between Binga and the rest of the country and is strategic for tourism business as well as commercial supplies.

#InfrastructureDevelopment

#EDWORKS #Vision2030 See less

These are not coal bricks. They appear to be refractory bricks, which are specialist heat-resistant bricks used to line coke batteries, kilns and furnaces.

My theory is that they may have originally been brought to the Muchesu/Binga mine area for the planned coke battery build. If that build has now been delayed, redesigned, paused, or abandoned in its original form, the bricks may no longer be needed there.

That could explain why they appear to be moving away from the mine, when logically you would expect this type of brick to be moving towards the site if coke-battery construction was about to happen.

So the issue is not the bricks themselves. The real question is whether their movement suggests a change to the coke battery plan.

First from Harare take 10 tons goods to binga muchesu coal mines. Second from coal mines Transport 30tons refractory bricks from bing to karoi! Who have vehicle do it ! Call me whatsapp//0781423165

Worth a read https://oilprice.com/Energy/Natural-Gas/Permian-Gas-Glut-Means-Producers-Are-Paying-Buyers-to-Haul-It-Away.html

This is Zephry - I expect any increase in the price of oil to be cancelled out with an unexplained drop in production figuers leaving us at a net zero gain on the jump in oil prices.

I'd image they have been prodicing and selling for a very long time now, just not within the listed company that we own.

Rememeber the local press article of months and months ago discribing the places as a "hive of activity".

Market very slow to understand this

Do you remember when Colin needed shareholders onside?

Back then, he was happy to host catch-ups, talk through the strategy, explain how he planned to rebuild trust, and set out how he would turn the business around.

At the time, it felt like an attempt to repair the relationship with shareholders. Now, it is starting to feel like it was all done through gritted teeth.

A year on from the successful drill, a drill that was already incredibly late because of the blowout, shareholders are still waiting. Still waiting for clarity. Still waiting for progress. Still waiting for the communication and delivery that were promised.

The silence and delay say far more about the character of the leadership than any of the polished words that came before.

At this point, the question is no longer whether commercial oil was found. The question is whether shareholders were ever truly respected in the first place.

Excellent.

I will check in again on my investment in 5yrs time when AVA6000 will be in its 11year of phase 1.

But we will all be excited about the 7th gen ava 5437 going into pre clinical trial.

From the year’s anniversary of the successful drill.

A commercial find, located on mainland America, with the most pro-fossil-fuel president in years, against a background of world energy fragility, with increased demand and lower production, with an existing gas pipeline less than a par 4 golf hole away.

And still we wait, and wait, and wait.

The results and the fact the next mega plant is on track and this will then catapult the company to a whole new level I would guess at