I invested in this company and remain very positive:-21 Jul 2020 12:23
My reasons for initially investing in this company are still valid in my book, and why I remain very positive of a great outcome here:-
I know the directors have a massive amount of skin in the game.
I know the company has at last turned the corner and is starting to make some money.
I know the company has no debt now and has stated it will not require to raise funds going forward, growing organically.
I know the company has removed the middle man and has since last September started to mine itself on a 100% basis.
I know the company mines a valuable product that is rare and very valuable and will be required in larger quantities.
I know the company has been around for 25 years and is not new.
I know the company has one of the cheapest open-pit mines to operate.
I know the company has directors aligned with shareholders.
I know the company has two of the largest world banks involved in talks to sell either the whole company or its assets.
I know the company has got suspended because someone tweeted on social media, the reason at the time approved by the NOMAD, and posted in an RNS.
I know the existing NOMAD now wishes to resign and is assisting with the smooth hand over to the new NOMAD.
I know that the company is expecting to get a new NOMAD because, if not, how would the old NOMAD be able to hand over smoothly to the new NOMAD.
I know that the flanks application has been partly approved and is awaiting local final sign off.
I know that additional flanks applications for Tipil has been partly approved and is awaiting final sign off.
I know that the company has a cash cushion and also an unused credit facility.
I know the company has had some new plant delivered to the site and in March had a new A 30 ton Chetra T15 bulldozer.
I know that new crew shelters for 56 people have been installed at the mining site, and the washplant with its associated pumps, generators, and other peripherals that were utilised last year have now being serviced for use in this mining season.
I know that a new feasibility study for the entire mining license area at West Kytlim, instead of just the Bolshaya Sosnovka area only, this Feasibility Study now being worked on aims to raise all resources on the property to mineable categories within a single Feasibility Study and without further drilling. This is aimed to accelerate the development of multiple sites in parallel, which should significantly increase production volumes.
I know the company recently tweeted about some new twin gyroscopic borehole surveying tool.
I know I could go on...
Just join the dots people and it will all start to fall into place, this company is going up a gear and accelerating production big time.
The only unknown is what date the next RNS will appear on.
Since posting this back in April we now have a NOMAD and UBS on board, fantastic News, as with the company management, everyone involved now is of a very high caliber, and there is nothing not to like in invest
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