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I think there's a high probability of a massive disappointment here. Don't get me wrong, I want to be wrong. However, name one example of protectionist nationalisation / forced state entity JV happening at fair value. Why would Mexico, especially under AMLO would be different?
Amapa is still the play here, I think we're lucky to get a few millions on our way out.
They (we) have it when there's a DFS, permit to bring it up, and money to actually do it. Until then they (we) just have a promise that it's in the ground and they (we) could potentially have it.
Of course it was a paid for interview - otherwise they would have actually pressed KC on the shadier questions, like SMS and the issued share gifts left and right (we must assume they were that given the generous terms and the lack of announcement of deliveries of anything).
Underperforming is an understatement, Green. Everyone should remember here that there have been a lot of interview sweet-talk and blaming anything from weather to COVID to Ukraine while our peers got work done just fine.
Result is what we need from KC, and official announcements. Not repeated hints and promises in interviews, that only does magic for executives with a track record of actually delivering every once in a while.
Which is "later this year", as opposed to "first half of 2023", as opposed to "Q1 2023", as opposed to "by end of 2022", as opposed to "second half of 2022", as opposed to any other arbitrary next projected completion date Keith has pulled out of thin air in the last 6 or 7 years. No credibility, confirmed muppet.
This announcement? It basically says we have good chances of getting some grants eventually. It would have been a miracle otherwise. Nothing substantial, no hard money committed yet.
Seems like Sonora and Amapa are priced in at £14M. Arguably fair given the uncertainties involved with Sonora (Ganfeng taking BCN dirt cheap, Mexican president playing nationalist, anyways not essential to mining plan near term) or Amapa (loads more studies and permits required, iron ore price questions with war and China, funding questions, years to production). The company will probably worth more as time goes by, but not now, not tomorrow.
Phil, check your sources. That's a crap extreme right fan club.
Babis will get into the second round with slightly more votes than the other candidate, however that other candidate will pick up most of the eliminated candidates votes, winning with a huge majority. Babis's on electorate is very limited, well, due to being a populist and due to most voters still remembering his term as a prime minister.
This is not an angle I would worry about. They can't just deny the permit then go ahead anyways - it would not only take ages to be able to do so (appeals ) but it would also be a very costly move given the likely court rulings later.