Member Info for Ian59

From the last RNS: ‘the Company is required to submit its Memorial by the end of Q1 2026’, so within a fortnight.

Ideas and Beyondthesea – thank you both for your research and analysis, which I found very useful.

Just a minor point regarding the last point from Beyondthesea’ last post - unfortunately it looks unlikely that EML is one of the 4 projects, as the article continues after the photo:

‘At the sectoral level, the 4 projects for which the strategic nature has been granted concern the electric vehicle ecosystem, and in particular the battery.’

GW62 - Just to clarify, Kimhappy has quoted a paragraph from the 6 July RNS. The subsequent 2 paragraphs in the permit update section of the RNS are below:

The Company has invested considerable time and resources into developing robust solutions in all these areas, reflecting international best practice, including using dry stack tailings, and sourcing waste water rather than fresh water from nearby reservoirs. In addition, the Company has committed to completing in-situ injectivity testwork before construction to confirm definitively the feasibility of deep well injection as a means of disposing of brines, while examining alternative means to process brines in order to minimise, or even eliminate, the requirement for brine disposal.

Following a recent evaluation meeting, the Commission Régionale Unifiée d'Investissement ("CRUI"), the regional investment authority, was unable to approve the application, and consequently the Company has exercised its right to refer approval to the Ministerial Committee, which is chaired by the Head of Government and includes several Government ministers. The Company believes the measures taken to address all concerns raised, combined with the project's significant economic benefits and contribution towards addressing food security, are compelling and underline its strategic importance to the Kingdom of Morocco. On this basis, the Company remains confident it will receive approval for its proposals.

Good question, but Graham is participating, so...
https://twitter.com/emmerson_plc/status/1651480520809668611

I think it is the same Gala (in London). https://britishmoroccansociety.org/bms_events/2022-gala-dinner/

Both countries’ ambassadors are attending, so one would hope that Graham as the sponsor would be able to discuss how best to expedite the project…

Well – Nick Candy looked very happy last night!…https://t.co/Qq58xMd1IG

According to the Directors' Deals list, it was 130p

https://www.lse.co.uk/DirectorsDeals.asp?shareprice=BOOM&share=Audioboom-Grp

(It also says that Stuart sold at 130p, so may be a correction incoming!)

I found this article quite helpful in understanding the main differences between the 3 listing categories: https://www.valuethemarkets.com/2018/02/26/aim-listing-vs-standard-listing-main-market-whats-difference/

Long term for me as well

westie50
I remembered something like that valuation and eventually found this referring to £2.96:
https://twitter.com/emmerson_plc/status/1176771534205202433
The link was in the In production Valuation thread on this site from May - haven't checked if it on the EML site.

Apologies if you have seen this already, but this is from HL this morning:

https://twitter.com/HaydenLocke5/status/1348580475628113921

Gives some idea of the potential here.

I noticed this when the AGM RNS came through, but didn’t think it too significant, as it is for new shares of up to only GBP 250,000 nominal – happy to be corrected, but I presume 'nominal' means 0.1p / share, so an extra 250m shares or 9 percent of the current number of shares outstanding?

Hi testpack3

This is from the last RNS (6-8-20):

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
Hayden Locke Emmerson Plc Tel: +44 (0) 207 236 1177
Edward McDermott

Damon Heath Shard Capital Partners Tel: +44 (0) 20 7186 9950
Isabella Pierre

Isabel de Salis
Megan Dennison St Brides Partners Ltd
Financial PR/IR Tel: +44 (0) 20 7236 1177

PS HL is also on Twitter, but don't know if he or the company use Twitter messaging.

Ian

If you are usually at a desk with an email client open, it might be useful to also register for Stock Exchange email alerts as I have found they come through almost immediately an RNS is released - sometimes well before they appear on certain other websites.

Hi John
I suggest you redact personal and account information when posting on a public forum...
Ian

Just to help inform this comparison, the last technical report (in 2018) for NAP I could find estimated 3.04m oz of PD of which 14% proven, 86% probable - see section 1.3.3 for lots more detail (889 pages worth!):
https://s24.q4cdn.com/818594660/files/doc_downloads/operations/NAP-43-101-Technical-Report-October-2-2018.pdf
It is from here: https://www.nap.com/operations/default.aspx

Micky,
(Just catching up after the weekend)
If it helps, I was looking at moving my SIPP earlier this year and compared annual costs (assumed in drawdown and 10 trades per year). The first half dozen providers I found in the lowest price range (£300 to £440) were AJ Bell followed by Hargreaves Lansdown, X-O, EQi, iWeb and Interactive Investor.
PS I am not an advisor, but depending on how the SIPP tax regime works for your personal situation, an alternative might be to transfer £20k worth into an ISA now and the rest next April.

I agree that the project finance is unlikely to involve dilution, however, AGM resolutions 5 and 6 do authorise up to 25% more shares to be issued (i.e. 20% dilution) for options and/or cash. (I think the resolutions are referring to the same 137m new shares but not entirely sure).
As the last annual report stated that the directors have 42.5m options exercisable within the next 3 years (they clearly intend to issue more), some (hopefully modest) dilution is inevitable.

@LUKE1444 Agree with the point about a strategic asset. Compared with his other recent (Crux and Proactive) interviews, HL seems to have moved more towards the preferred option being to get a full working mine up and running before any merger/takeover.
Also encouraged by (I thought) him being even more confident in obtaining the financing without tapping shareholders, so hopefully this will keep maximum dilution to 20%.

Ian_ – is it too late to go for today?
I noticed last night that, according the company website, the directors still hold 10m warrants at 1p. As these expire today, hoping that there will be an RNS to say that the warrants have been exercised...