Member Info for JazzyGeoff

Not the RNS we were hoping for!

I see we have the AGM tomorrow : Notice is hereby given that the Annual General Meeting of Emmerson PLC (the “Company”) will be held at

55 Athol Street, Douglas, Isle of Man, IM1 1LA on 26 June 2024 at 11.00am.

For the following purpose of voting the Directors back in and granting key employees and Directors options and warrants. To be honest I think the timing of the options and warrants or any management incentive at this time sucks. It is the share holders that are feeling the pain of this dismal share price. Go and get the EISA then reward yourself but don't insult investors who hold up and continue to hold up this company. It doesn't take a lot of imaginations as to guessing how I voted on this!

A great read and how true. You cannot argue with that.

Testpack3 I agree with you. I don't have a clue and I don't think we will ever know as to why the Government didn't override the locals and issue the EISA. Reading the minutes and seeing the outcome from the previous meetings held by the Ministerial Committee suggested that this was well within there power to do so. It would have made our lives a lot easier!

I just think the shoes is on the other foot now. If the CRUI want a desal plant then it is up to them to say so without any ambiguity and not for EML to suggest. This of course would add to our Capex. Why spend the extra money if you don't need to, after all we want to use grey( waste ) water not fresh water.

I would have thought that Nizar Baraka ( Minister of Equipment and Water) would have been in the Government discussions. He should be well informed of the water situation. He clearly didn't object to it. He knows the area well as he was born in Rabat and educated in Rabat and also knows what actions Morocco has taken and will take to address the water issue.

Next move is with the CRUI. I actually think this has made there decision easier. They can now point to the Government should things not workout.

CBax - I am afraid Graham isn't in control here and never has been. The EISA will be issued when the Moroccans are good and ready.

As previous posts have highlighted Emmerson is environmentally in the best shape it has ever been in to receive the EISA. I think the CRUI are running out of reasons to reject this. I don't see them having the support of the Government on this either.

The Government have asked that the matter goes back to the CRUI for reconsideration as they believe with the new KMP process this is a goer. If the Government didn't feel that way they could have killed it and agreed with the CRUI on appeal.

I believe that the CRUI are not only challenging Emmerson but a refusal would challenge the Governments view of the project. I cannot see this happening. The CRUI are on their own now.

Clearly other share holders don't share this view as they head for the exit based on the recent share price. I am clearly in the camp that believes they will receive the EISA.

I suppose the only positive to take out of this RNS is that we are not waiting for the CRUI to sit down and review the revised EISA. It would appear that we are awaiting the outcome of the review - "We updated our environmental assessment to incorporate these optimisations and submitted the document during April 2024. We are currently awaiting the outcome of the latest review"

Today Sovereign Metals (SVML) released a RNS updating shareholders on the progress they are making with their Rutile and Graphite mine in Kasiya Malawi. They even went on to thank the Government for processing permits so quickly - " I want to thank the Malawi Government for an efficient approvals process, demonstrating just how important Kasiya is to all stakeholders."

The Government of Malawi are so keen to get this mine up and running. They have take the measure to combine all there mining and permitting departments especially for Sovereign to help speed up the process and get the permits approve. The Moroccans should take note, here is how you do business on a world stage and benefit your country and its people.

It is understandable that the CRUI have made it difficult for Emmerson to receive the EISA. Pre KMP Emmerson believed that all the work they had done up until that point met or exceeded International mining standards.

My thoughts are that Emmerson will become the new bench mark for any mining company wanting to set up shop in Morocco going forward.

The planet is getting warmer and countries in the hot zones like Morocco are going to have to preserve water. The CRUI have a moral responsibility to do the right thing. In Moroccan terms this will be a large mine and hence has a large draw on water.

By upholding the referral it suggests to me the Ministerial Committee (Government) are taking a more holistic view of Emmerson and see the economic benefits it would bring to the Country in the form of jobs, investment and taxes. If I remember correct the GDP for Khemissett and the surround area was to grow by 40% due to the presence of the mine.

There were 5 reasons given as to why the CRUI could not approve the EISA.

1) use of waste water

2) deep well injection

3) tailings at surface

4) road congestion

5) land users

We know that 1&2 hopefully can be addressed by the new KMP process that has been proposed however Emmerson have not provided any information to us regarding the other 3 issues, particularly the storing of tailings at the surface.

No. 4. I understand the locals not wanting a production plant being built on their doorstep upsetting their utopia but in this case the needs of the many outweigh the needs of the few. Congested roads are part of life. If roads are not there to move goods and people along, then what are they for? Emmerson are building their own road which I understand the locals can use out to the highway and looking at the photos on the Emmerson presentations the highway could handle 20 Emmerson’s before it gets any think like the M25.

5) Land Users. This again is not clear. Is 1 and 5 linked? Is this land owners or land users/ farmers who use the land to support Morocco’s agricultural industry saying they don’t want to share the waste water they use for irrigation due to concerns of shortages when the mine is up and running?

Hopefully Emmerson and the CRUI are having constructive meetings and for our sake we have a positive decision very soon. Thus allowing us to move onto the next de-risking issue and hopefully construction.

This is rising nicely on news flow. We are now at the buy in price for Rio Tinto should the choose to take up there additional 4.99% before 21st July 2024.

Aghmir - Can you elaborate a little more? Where have you read that their is a meeting December 21st?

thanks

Reading the Government link the three jobs created are new. So I get the impression that he is not replacing anyone. He is their to improve trade links.

So now we have an Ambassador and an Envoy for Morocco. Graham mentioned he had been in communications with the Ambassador in the last BR Business News. Lets hope these people use there influence to get that permit over the line.

The Prime Minster has appointed three new trade envoys. Robert Butler gets the position of trade envoy to the Kingdom of Morocco.

https://www.gov.uk/government/news/prime-ministers-trade-envoy-programme-appointments--3

Lets hope he hits the floor running and helps us get that permit over the line.

Burning through money is never a good thing!

The bit I found interesting was three little words - "discussions to date"

From the RNS -Emmerson is awaiting a session of the Ministerial Committee to consider the matter, and although management remains confident of a favourable outcome based on "discussions to date", the timing of the meeting is not certain, particularly following the devastating earthquake in Morocco,

In previous RNS they have suggested that there confidence is based on the "National important of the project "which I always found a bit woolly as not everybody will share that view ie - CRUI Regional Authority. In this RNS there confidence is now based on discussions.

This suggests to me that the Ministerial Committee are already in possession of all the information put forward by Emmerson to support the application for the permit. This time is now being used by the delegates to consult with there advisors and challenge Emmerson on any sticking points prior to the meeting taking place. Though it doesn't seem it I still think things are still moving along, albeit at a snails pace.

The argument surround the use of waste water really comes down to - is there enough to go around. From what I have researched on the internet the waste water treatment plants in Morocco particularly those that are rural only use the reprocessed water for crop irrigation. If all the waste water from the Khemisset Waste Water Treatment Plant was earmarked for the agricultural sector then this would be a none starter and would be pointless for Emmerson to even suggest it. At 5.54 mins into the You Tube video he goes on to say that the suggestion of using waste water has been” well received”. He also uses works like “ take” and not “ share”

What we don’t have regarding the outstanding issues is the detailed solutions that Emmerson have put forward but I would have assumed that Emmerson know the quantity of water they would require for the plant and that the waste water treatment plant has the excess capacity to provide this.

Is the argument really that the agriculture sector which is the mainstay of the Moroccan economy don’t really want to stress test their water supply by sharing it with a new comer?

Interestingly I found this link whist researching. It suggested that up until recent times Morocco was disposing of most of their waste water into rivers and the sea untreated.

https://www.statista.com/statistics/1174349/wastewater-reuse-in-morocco/

Got to be worth more than 2.1p !

Does anyone think that a share consolidation followed by the fund raising is on the cards?

Call me an optimist but I don’t see a delisting happening. This is unfortunate timing but let’s get all the bad news out the way so this share can start building a base from which it can move up instead of down.

You are telling us what we already know from the RNS. what's your point ? I believe that we will find another nomad before the time is up. Hence the purchase today.

I think they will find a Nomad before the deadline of 25th Aug. I have just topped up.

Decided today to top up at my average. My buys don't often show up as a buy but this one did the 645715 is mine. This will probably be my last buy as I have two many as it is! The last RNS suggested that the mine was progressing well. Lets hope that we get more details soon and get this stock moving towards the 1p mark for starters.