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'Until approval of the Scheme of Development from the Government of Bangladesh is received there is continued uncertainty over the recoverability of the intangible mining assets. The Directors consider that it is appropriate to continue to record the intangible mining assets at cost, however if for whatever reason the Scheme of Development is not ultimately approved the Group would impair all of its intangible mining assets, totalling £40,912,000 as at 31 December 2018.'
Net assets are only £37.5m at 31 Dec 2018
the market does not like this deal - now at year lows
released by close of business 31 March 2019, 29 March 6.30pm is the last working day/time to achieve this. It is always concerning if companies release the results last possible day and worse if after close of trade and not upon open.
Good luck tomorrow whatever happens.
the very second news is released on any stock within that 1 second the MM's have already decided their next positioning. They must have an algorithm that reacts according to certain keywords contained within an RNS. Try and buy any stock at offer within say 10 seconds of a positive RNS you usually cannot. The herd would arrive maybe 30 seconds onwards of the news being released by the time they bring up the stock put in their trade details etc.
Interesting watching
personally I expect not good results - we have had to borrow cash after all which we still owe back and can be converted in to shares with the lender at big discount which is a concern. But holding for the other news expected anytime - update expected with results.
Good luck all
Gov. is nearing. On 27 November 2018 the target date was set at 28 February 2019 to have a formal proposal in place. Already 1 month extra has elapsed.
Would expect formal proposal sooner than later to the Bangladesh Gov.