John,
With the greatest of respect, I posted information regarding one of the company's prospects which may be of interest to other investors which use this forum. I appreciate that you are a very active member of this forum who has little interest in Bhukia, but you don't have to engage with every post.
@Pollack the next listing date is 1st August.
No interim orders / judgements since 2nd March, which seems a little strange - something has been published by the courts after previous hearing dates, but nothing since 2nd March.
IMHO movement one way or the other on this will happen this quarter - either the success we hope for, or an escalation of the dispute to the government of India.
@Lawrence, if you're *only* 60% down on this share I'd say you're doing well at this stage! ;-)
From my perspective, while a 6p share price looks attractive to average down, it feels like I'd be throwing good money after bad at the moment, and I won't be doing so without further news. I suspect my own perspective is similar to many on this board, and wider sentiment towards the share.
@Mickey, much like my reply to your earlier thread, unfortunately I don't think there's a huge amount that MB can update us on at this stage.
Unfortunately, my shares in Panthera are stuck in the bottom drawer for the foreseeable.
I've been through the recent investor presentation again, focussing on the published, anticipated timeline. My thoughts:
- Labola's updated MRE needs to be above 1MOz IMHO for it to be transformational for shareholders. Q4 looks realistic for the updated MRE. Following on from this, the definitive decision to mine and a route to get there needs to be bottomed out.
- Bassala. The drilling just started there needs to deliver quality, consistent grades to enable a gold discovery to translate into something commercially viable and attractive to investors. My guess is we'll find out at the end of Q3/into Q4.
- Bido, Paimasa and Dagma are longer term prospects, which I see little chance of delivering value to shareholders in the short term.
- Bhukia (John' I know you're fed up with this so look away now!). The conclusion of JV discussions and planned move towards international arbitration if JV discussions / court are unsuccessful following the 4th July hearing feels like a watershed moment for the project. Past performance is no guarantee of future decisions, but it feels like a long shot at this stage.
Conclusion for me is that MB is facing a *lot* of headwind across all projects to deliver any meaningful value / growth for shareholders in the short-medium term, but I would be over the moon to be proven wrong on this.
Lots of activities planned in Africa, which is good. Hopefully we'll get some positive news there - MRE update in Labola in Q3(ish), plus drilling and assays in the other four African gold plays. Fingers crossed.
Regarding India, it looks like exploring JV opportunities will come to a close at the end of H1, which coincidentally roughly coincides with the next court date on 4th July. If unsuccessful, it looks like we will be issuing a notice of dispute to the Gov't of India thereafter to escalate the issue.
https://www.rns-pdf.londonstockexchange.com/rns/3820N_1-2022-5-31.pdf
@mickey, I think I've solved it.
Rajasthan is currently 4.5 hours ahead of UK BST. I just did a query on the High Court website and the 'date of query' came up as today, and the time was 4.5 hours ahead of UK BST. Given the timing of your post last night, I suspect when you queried last night it was already 27/5 in Rajasthan, hence the date and time stamp on the top line.
Roll on 04/07, and come on Mark, let's have some good news!
Certainly something to keep an eye on.
I note that there's been no updates on the orders/judgements since 2nd March. Could be nothing, probably nothing, but even allowing for delays, no updates in 12 weeks given there were supposed to have been 2 listing dates in the interim seems a little strange.
Just had a look on the Rajasthan High Court website. No orders/judgements have been added since 02 March - I appreciate that the case is listed on 28/4, but would have expected an interim order/judgement to have been published following the last listing date of 28/3. Any thoughts on this please?