RE: Ffs 5% down now.29 Apr 2025 18:32
Chef, I really don’t follow your reasoning at all.
On the 01/11/24, an agreement was made to transfer the mining licence, on payment $15mn in two equal instalments, 50% on signing of the Memorandum of Understanding and the remaining 50% by 31/03/25.
The initial $7.5mn was announced to have been transferred to the Malian government in the RNS of 14/11/24.
In the RNS of 04/04/25, it was announced that an application had been to made to extend the deadline of the final payment due to a delay in the transfer of the licence. On the 17/04/25, it was announced that the transfer has been completed, and that further negotiations are taking place.
Why are you worrying about the $7.5mn, when it’s not a sword of Damocles hanging over our heads. If there is an issue, it’ll have to be declared via RNS. We’re not in desperate need of news at this time, so why do write as if the viability of the company depends on immediate announcement?
As for the this cost to store the ore (which I’d like to see the calculations for that), you need to be mindful of the fact that as of the interim results, we have £18.1mn of cash (or $24.2mn at today’s prices) in the bank, and £53.9mn net assets (or $72.2mn at today’s prices).
Given these facts, why are you complaining all the time?