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Bullish - but it is material news, hence the RNS.
Talks are ongoing - great - but where's the action? What's the delay now?
They should have handed over on 1 September...six months ago. That's potentially cost us over half a million pounds.
Bullish - they should have handed over in September....it's been delayed at least twice already. Oh, and again today.
Whilst we continue outside of handover, we're losing over £100k per month in operating losses.
How is it not "bad news"?
And?
Esquimo - but look how long the handover has been progressing. I can't recall all the excuses - permits, elections....what is it now?
Delayed handover from September, then October, then November, no handover in February, no specific date mentioned in our latest RNS. It's not really how you inspire the market, whatever we discuss on here.
We were at the equivalent of 50p back at the end of August when we confirmed the final SMA sign off, so I suspect the handover isn't as yet priced in, which should give a nice uplift when it does finally happen. Remember we placed at the equivalent of half of that - 25p.
The East Africa / Tanzanian Govt bits are just talk - good as they sound and they are a positive - but the market has had plenty of silver lining in the clouds comments from our BoD before. It's a nice way to temper the disappointment of the first bit of the RNS.
We just need to start delivering on these continued promises.
"Facts are facts" - I'll remember that. It's a good phrase.
Calypso - that's just a 600 bagger to break even then?
I wouldn't worry.
Plenty on here, including me, with far more at stake, although I am continuing to trade down on my exposure. I just need another year of lows and spikes like the last two and I might be sitting pretty.
If I recall correctly we were at the equivalent of £1.50 as we headed into 2019, which is only just over two years ago.
As aerial quite rightly states, we're some 60% plus up on the bid since December. Traders' dream.
Looks like ZumbaChumba's account has gone
Perhaps you were nearer the mark than you think Pi.....?
Kelladee - welcome to AIM, the lifestyle market for BoDs.
Like I've said, they just need to deliver their promises, then we'll properly rerate and everyone invested will be happy, even me.
aerial - you know it's not lying, as does everyone else, but how many times can you get it wrong?
How many RNSs have we had, even since starting washed coal production, where there has been excuse after excuse for not meeting targets?
This is exactly why our share price is where it is - a litany of excuses and the market therefore distrusts us as a company.
You can't keep not delivering.
RNS 9th Oct 2017 - The wash plant is now processing material to fulfil requests for coal that have already been made. Management expects production levels to increase over the coming months and are currently targeting production of at least 10,000 tonnes per month by January 2018.
I'm sure many believed that statement, but it didn't happen. That's well over 3 years ago.
And there lies our problem - whatever we discuss on here and however much we may disagree, it's all about what the market thinks and that is reflected in the share price. False starts and empty promises destroy that market trust.
I believe we have potential here, but we've been talking about potential for over ten years. The market is exhausted by non-delivery and all the excuses in the world about the difficulties of mining in Africa wear thin in the end. And then there's another excuse, and another. Every delay costs the company money - what was our burn rate in the last P&L - c£80k a month? That's why we have to continue to raise money via placings.
The BoD just needs to deliver - simple.
Sausage - https://www.tanzaniatourism.go.tz/en/tanzania/facts/climate
bigeye - and you just call people names, that's reality
Sort of beat me to it Sausage and agree with you.
The market doesn't trust our messages anymore and we just need to demonstrate progress and profit to properly see the share price rise and hold. Alistair has alluded to that previously in his podcast when he talked about false starts and the need for numbers.
That's not negativity, it's reality.
We just need to deliver tangible progress and the handover is the next crucial step.
Yes, Vox markets is good, as is Investegate. LSE's reliability on RNSs has been patchy for sometime.
esquimo - AM is 69 this year so I don't read too much into his role being changed. I would think he may well be retirement planning. He's also a British National who is a French resident, so I suspect that Brexit may well have had a say in how he is now operating.
The ILTL handover and contracts do have the potential to be game changing for us - it's another piece (or pieces) of the jigsaw. But we need the numbers to back up the promises to ensure the market fully trusts us and we can properly re-rate and hold the rise.
This time a year ago we were hovering at the equivalent of 50/55p - we need to get back to that first.
Jezzac - 95% of electricity in the US does not come from coal - it's probably less than 25%
But it's irrelevant anyway.
Coal is an important fossil fuel for developing nations and we have lots of it.
We just need to get mining it at a profit.
Rolling - Five year high would probably be about £10, or 1p in old money. I'd settle for retirement on that.
Sausage - not something we're definitely party to, but I suspect Alistair was an interim arrangement.
Whether Nick is primed to be our CEO, only time will tell, but depends on how he balances all his other commitments out such as Arc's Chairman etc etc
Nick has incorporated two new UK companies over the past six months or so - Cosmos Exploration and Sustineri Group so he does have a growing portfolio.
He's also a Director of Jangada Mines, which happens to have.......Brian McMaster as a director and Chairman.
Seeing the links?
I would suggest that Alistair is probably starting to plan a bit for proper retirement. He is 70 next year.
Jezzac - have you actually listened to Alistair's interview from August 2020??