Member Info for idg69

Desperately sad for the people of Morocco. It's always those with the least to start with that suffer the most. Pleased to hear in the RNS that EML offices and staff were unaffected by the quake. I'm pleased we haven't tanked this morning as I expected but with a lowly 20m market cap now there's not much further to fall. I'll stay invested for the long term (and I hope there is a long term) but don't anticipate any good news on the ESIA this year now. It's 3 years in November since the ESIA documentation was first submitted to the powers that be.

https://www.worldfertilizer.com/potash/18112020/emmerson-plc-completes-environmental-and-social-impact-assessment-for-khemisset-potash-project/

It's immaterial if we don't get the ESIA approval as it will still be in the ground. WTF are Super Rupert and the board doing right now to sort this situation out. How the hell has it come to this when 2 years ago approval was imminent. Shameful that the BoD have allowed it to get to this position. I appreciate they have no sway over rainfall and climate but come on, they know it's a hot dry country and water would be needed for the project so why wasn't a water solution high on their priorities.

Excuse my ignorance but was is SSH?

Anyone taking a speculative punt under 2p recently will have made a nice little profit today.

Enjoy the weekend and let's see where the coming weeks/months takes us.

150,000 shares sold is not going to drop the price by 10%. Trading/sell order is going on behind the scenes that will bring a stock down 10%. Market cap now under £20m - pitiful situation. EML need to pull a whole colony of Rabbits out of the hat to bring this company back to life. Awful management of the ESIA process and communication by the BoD.

Fed up completely of AIM companies, it's my own fault I'm in this position as I said years ago I'd never touch another AIM stock yet here I am. The investment case 2-3 years ago was exceptional. Low cost shallow mine, good transport network, close to port, safe/stable geo-political area of the world, product much in demand around the world, experienced management team, etc, etc what's not to like? Answers on a postcard please.

It’s staggering to think we are in this position, with the whole project/companies future hanging in the balance over this one (but very important) permit. Not a great advert for doing business in Morocco. A pitiful situation for all concerned. Only hope the top brass In government look favourably on the financial and employment benefits over the environmental impact. But I still think a large does of skullduggery is in play to bring this project down so that government/OCP can pick us up on the cheap. I say this with my pessimists pants on.

Certainly not a day to celebrate - 26th July 2017 saw this stock @ 2.13p - 6 years on and many £millions of hard earned investors money piled in to this company and here we are @ 2.12p. Not what you'd call a success story is it?

Could turn on a sixpence if the government come good on the ESIA approval, but it's a mighty big if. We're still falling and I suspect sellers are just taking some money rather than potentially losing it all. I hope this Rupert fella they took on board to work on government relations is doing what he's being paid for. EML is killing my portfolio right now, I'm up across the board for a change but this has eradicated all other profits by some way. Wishing all holders the very best for the future. We deserve a change in fortunes and pretty soon.

Just watched the interview. I don’t think he’s laying it on thick, I just read it that he’s pee’d off with the long drawn out process and lack of decision at regional level, and rightly so. He just wants to get moving on this project and is frustrated by the red tape and hoops he has to jump through. He strikes me as a pretty decent and honest guy who is frustrated, like all of us at this time. He’s not the most dynamic ceo but that doesn’t bother me. Hayden should have stayed on in that front of house capacity and let GC do all the operational and detail development work behind the scenes. Maybe then take on the ceo role when we’re operational.

The following was taken from an earlier post:-

The subject of ‘how long?’, looks like the standard process is 30 days, so shouldn’t for example be next year, etc.

“the investor may lodge an appeal before the Ministerial Commission, which rules within a period not exceeding 30 days”

Taken from the regional investment commission.

It’s going to be a very testy 30 days whilst we wait for the government ruling on the ESIA. This will continue to drop now as people bail out on the assumption that we won’t get approval and the company will fail. GC needs to be doing a question and answer session and putting investors at ease but I don’t think he will as he’ll just get berated for putting the company in this position.

Absolutely no idea my friend. Mystic Meg may have a view but I certainly don't. I suspect it will drift back to 2p on no news. It's always darkest before the dawn but it's been a very long and dark night for this share for some time. I couldn't have foreseen Fridays catastrophic RNS. Wrongly, I always thought it was the top brass in government that were making the ESIA decision and not the local 'Dibley' parish council. It might help if we had detailed info as to why the ESIA had to be referred upwards. Everything on this board is just conjecture without hard facts unfortunately.

I have sufficient funds waiting in the wings to double down and seriously reduce my average, but I don't know if this is just throwing good money after bad or a prudent thing to do for greater future gains and a quicker path to profit. Does the old adage of 'buy when others are fearful' make sense in this scenario? Is EML now just a red or black gamble or still a viable investment case? It doesn't help that communication is sporadic at best and very vague when it does land.

The original business case for investing is still there but we are being held to ransom by the powers that be over the ESIA issue and without approval we are dead in the water I'm afraid to say. A very sad state of affairs at this present time.

Is unable to approve the same as rejected? Were the local bods just unable to come to a decision so pushed the decision making process to a higher council or did the say no and EML requested it go the government? Either way it’s still not approved and the odds look slimmer in my opinion. Will this go back under 3p today?

I couldn't agree more with your post. Is this a great opportunity to buy and average down or is it throwing good money after bad? - Only time will tell. Very difficult right now knowing what to do for the best.

I can't help thinking that there are dark forces at play wanting EML to run out of cash and fold so we can be picked up on the cheap by OCP or another big mining play. We are a minnow in mining terms and have zero leverage with the powers that be to get this project moving to the next stage.

The government call all the shots, they know this and we can't do a thing about it. Not a great position to be in. Getting into bed with these African nations without a commitment on there part is a very dangerous/foolish/risky thing to do - as is buying shares in this company without all the necessary government approvals in place.

It will be a travesty if the government don’t green light this project from an environmental standpoint. I have funds to seriously average down but is this like trying to catch a falling knife. I’ve been in this situation before with an AIM small cap miner and they went to the wall. I thought the government were using EML as their poster child for encouraging investment in the country - there must be some serious skullduggery going on behind the scenes. GC strikes me as an honest Yorkshire man who genuinely wants to do the right thing but his having is balls squeezed by the powers that be. We have to remember this is an African country and they do not have the best or cleanest reputation for doing business. Let’s see what next week brings. Might drip feed another 5k in and see what the coming weeks bring. Enjoy the weekend.

It’s not looking like the transformational Q1 & 2 the company intimated at the beginning of the year. Let’s see if any news drops before the month end. I’ve been 3 years with this stock and it’s testing my patience now. I’ve missed so many big gains with other stocks by jumping ship before real growth kicks in that I’m not prepared to do it again with EML. Everything stacks up for this project except getting the damn environmental permit. Would love to know what’s going on behind the scenes - a lot of skullduggery I suspect. I imagine the BoD and their staff are just as pee’d off as we are now. I’m only pleased I don’t need to take any cash out now and can afford to play the long game.

Another week passed without that little red RNS dot. I feel like I’ve wasted nearly 3 years invested with EML. The lack of news is pitiful. Someone in the ESIA department clearly isn’t happy with the contents of his brown envelope.

Did anyone else get giddy when they saw the little red dot next to RNS this morning?

The wait continues but hopefully not for long. I can’t see the authorities tanking this project with all the EML pr that’s going on right now promoting Morocco as a place to do business.

42p and beyond is certainly achievable if/when ESIA approval drops in the next month followed by funding sign off in the next 6-9 months. I know it sounds fanciful saying this when we're hovering around the 5p mark. I always refer back to AFC's rise from 4p in late 2019 to peak at over 80p in late 2020. These things can happen when you get a tail wind behind them and they had nothing like the potential revenue stream EML have.

We have a great accessible resource that the world needs lots of, it's close to port and processing, in a pretty stable business environment, a trusted and experienced operational team. I know GC is unpopular at times on this board but he has operational experience in spades at a time when we're really going to need it. There are a lot of positives if you look.

Would be nice to see this back up at 6-8p levels before the ESIA approval is granted and then who knows where from there. I'll be topping up further in the new FY when funds become available. I know many on here are beyond frustrated (understandably) but I'm OK to sit this out further. Let's hope our patience is rewarded 'imminently'.

I'm only disappointed I've not got a few quid left to invest this year. Would like to snaffle a few more up under 4p.

I've seen these drifts before with other shares, I started watching AFC around 20p in 2016, it drifted to nearly 3p in late 2019 before the news starting coming in of commercialisation and it rocketed in a relatively short space of time. I bought in at 9p thinking that was low and was sat on a 60% loss for sometime before things got interesting. I didn't envisage the giddy heights of early 2021 and sold too soon but still made a good profit. They didn't have the product and marketplace EML have either.

I don't like to see the paper loss on my balance sheet but patience is key and I'm not going to lose my head now and sell at this stage in the game.

EML/GC is in the hands of the Moroccan environmental policy board at this stage. I topped up at 4.7p not thinking it would tank to nearer 4p. I'm not sure what he could do to expedite their decision making progress - bar a huge brown envelope dropping in the right lap. We appear to have answered all their concerns to date with water being the final hurdle to overcome.