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It's not a matter of weeks cabman, just the readmission new IPO, will take 3 months which is standard, the fact that they have also bring a full working mine back into production with a buyer for the copper, as well in the background is an amazing feet. Personally i think it would have been easier to re float the titanic! AIM have requested a new cpr report which takes 8 weeks itself which is well under way, everything they can do they are doing and as a shareholder I believe you will be well rewarded for your patience. Sit tight.
The AGM was to pass the resolutions as per the RNS above. A number of key things I took away: 1. The Readmission is waiting for compliance approval from AIM and in effect it is being treated as a new IPO, so Pathfinder doc, Long form, Short form, institutional presentations etc have to take place, because Mowana is now operational a new CPR report has to be completed, this has caused delays. 2. They have money in the bank to see through to readmission. 3. Once AIM sign off on the documents then a shareholder meeting will be called to agree the readmission, 14 days notice has to be given to shareholders. 4. Monies being raised on the readmission amount to no more than 3 months revenue from Mowana production. 5. Kossanto is progressing well and Randgold are looking at a much larger area to produce and updates will follow. 6. They are looking at a number of possible funding partners for Matala including the existing Chinese one. They are very confident and pleased with the progress they are making, if anything they are frustrated with the red tape of AIM, which rightly so has to have everything verified based on the facts. There should be a serious upside rerate when this relists. Although they cannot make predictions a market Cap figure in the hundreds of millions was mentioned to me once the revenues they have already secured are recognised. However this is AIM so take what you will from this and get your own advice this is just what I took away.
No problem m_wall, I will be going so am happy to report the facts back later which should give everyone an idea on what the timescales etc are, rather than the opinions and guess work which is being ramped on here today.
Mad the AGM is at 4pm today in London, between Chapman, Penmin and the Directors, they have a high enough % of shareholding to pass the RTO. I expect once today is over the new admission doc will be released next week and then hopefully away we go.
I'm in London but don't think I'll go as:- A. I'm based in Moorgate and Curzon Street is a pain in the arse to get to especially at 4 pm on a Friday. B. I won't be able to influence this, so what will be will be, why put myself through the pain of an AGM. C. I am confident that this will be ok.