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I suspect that the longer the production continues the less impressive the overall figures will be, in that returns will be diminishing although I assume still sufficient to be worth continuing until the move to TR can be made .
Fortunately I disposed of most of my holding in AST a few years ago but kept hold of a few ,which are now worth something like 1% of their value at the time of the other sales.The company has been a basket case for a while and it would not have taken much in the way of research for our bod to have discovered this back in December and terminated discussions. I fully agree with your views TDT.
On my part.
The delay arises because they are having no success whatsoever in identifying a suitable company for an RTO and are considering calling it a day any distributing all money held to shareholders.If only!
Of course the 14th March was the date of the RNS but the date of actual receipt could have been earlier,although I guess we will never know. I continue to be very disappointed that 2 months down the line,we are still waiting for confirmation of the arrangements ,which they should have been in a position to proceed with as soon as the funds arrived.
The moment the shares go ex div I will be selling up as I have no faith in them securing any deal which will add shareholder value.I fear that at best a deal will be announced,the shares will be suspended for a least 6 months whilst all the formalities are dealt with and if approval is given there will probably be a fundraise at a lower level than the price at suspension,whilst in the meantime the bod continue to pay themselves,thereby depleting funds.
They had 6 months before the funds arrived to be organised to make the dividend payment asap thereafter ,which is in the best interests of us all.Instead we are told that news of arrangements will be given"in due course" which suggests a long wait.Of course there is no legal commitment to keep to the 90 days,so we could be kept waiting even longer. Typical disregard for us long suffering shareholders
It is often contended that posts on a bulletin board rarely have any effect on share price movements but I think Master has managed to achieve this,hence the temporary move above 6p. The Master induced froth seems to have gone and we will have to await genuine news of the grant of the LP for a decent rise to occur
Must be due some production figures soon and it is difficult to know what to expect.I suspect that given that most of the stones will be small and we only pocket 15% of the gross profits from such stones ,the results will not do much to cause the market to wake up and we will have to await news on TR ,Ghaghoo or other prospects.So,patience the best approach I feel.
Agneiss-I agree that making appropriate arrangements takes a little time but as long ago as the 2nd October RNS when we were advised that The Russian Federation approved the deal they knew that they had the green light and could commence work on the mechanics of the issue of the dividend.So they have had 6 months to prepare and if they had the best interests of their shareholders in mind ,by paying the dividend asap,they would have been geared up to proceed as soon as the funds arrived,which was at least three weeks ago.So I am not impressed
Helpful as ever James has in answer to a couple of queries ,just advised me that the largest of the diamonds shown is over 2 cts which he says is good for the size of the deposit,with less than 15% of the diamonds being 2cts or more.He also says that the yellow diamond is a "vivid" and that this is most encouraging.
So ,plenty of positives.
I suppose I am viewing the current drilling campaign as more of a starter with TR being the main course ,so that good results will be a bonus.Perhaps the commissioning process for TR will be significantly shorter as well given that they will have so recently commissioned the equipment for Marsfontein
Commissioning of the recovery process.Last item so I assume all is up and running now.Must admit it has taken longer than I expected and hope it proves worthwhile. Difficult to know what to expect asJames did not want to make any predictions so first interim progress report will be important
1 I wonder when they found a bank willing to assist. Whenever it was I believe we should have been told at that point.Would have prevented the sp drift which may well have caused many to lose faith and sell up or at least sell part
2 Strictly speaking it was not correct to announce that completion had taken place when the sale proceeds had not been received so if the money is still awaited completion is still pending.If it is still awaited I wonder why when electronic transmissions are so speedy.4 days or more seems excessive.
3Assuming the money does arrive they have had months to work out the mechanics of paying the dividend and I hope this is effected in considerably less than 90 days.
I also hope they do not go down the route of a RTO which will leave the shares suspended for months .I have experience of this with Amala foods(a disastrous investment) where the shares have been suspended for10 months
Gazzleberry.
Well if it is Russian Restrictions that are the current problem,we ought to be told because the 7th November RNS clearly indicates the problem at that time to be "Western Introduced Restrictions".Not my trawling through them has come across the specific instrument,so I have given up on that one.
Geng .Presumably we are no longer in he rising trend so I wonder what sp horrors the chats indicate to be awaiting us