We would love to hear your thoughts about our site and services, please take our survey here.
At this point, is organising a shareholder vote regarding management not a viable option? If nothing else it might act as a much needed kick up the a*** for the BOD.
#MattBullOut
I’m taking this as a very positive signal!
Apologies for the ignorance but what do you think this would mean exactly for the average shareholder? TIA
It's all Kabunga's doing!
I wonder how one goes about arranging a shareholder vote... #MattBullOut
Sub 3p... eh oh!
#MattBullOut
1 single trade all day - got to be a record surely?
Where is Piler when you need him?
Disappointed yet not surprised like most here, nothing we haven't already known for months/years. However I have to agree with AIM in that the juicier news including plans for the future must be imminent now and will carry more weight in a separate update... optimistic that we'll get another RNS within the next few weeks (although I'm not going to hold my breath!) GLA
The market is currently very weak as you say which is one of the few things giving me solace about the share price. I also believe that the mine will one day be built too.
But do we think the long-spouted theory of "He's playing a blinder here, he's simply waiting for Kabunga and warrants to expire so we get maximum value" still holds true?
We had maximum value at 6.25 over a year ago now, would take around a 70% increase on current share price to hit that past high... this better be one hell of a blinder he's about to pull off. GLA
Was waiting for you to chirp up AIM... care to suggest when the mine will be built exactly then as you seem to know something we don't?
At the end of the day the positives of the project are clear (e.g. low capex, vast quantities of graphite, favourable external market) and anybody who has done a minute amount of research on this company can recognise such. If all the information we have been fed by the company is correct and they deliver what is expected then this will be a very lucrative share for many. That's why I've put my money into this company.
My frustration simply lies with the speed things are moving along. Admittedly, I have never set up a commercial mine in my life (go figure) but things do seem to be ridiculously slow here. The updated DFS was announced 05/06/2020, the mining license application was submitted 02/07/2020, and the company has been 'under NDA with two separate parties with the aim of advancing project level funding discussions with a view to bringing in an investment partner to progress through to mine construction' since 15/06/2020 (as well as a number of offtake NDA's) so management has presumably been working on this 'next step' for nearly 2 years now - how much time does it usually take to secure financing and offtake agreements? Have we been updated since about other finance NDA's or are we still just in talks with the 2 mentioned? 2 years to me seems rather long considering the project economics/context has pretty much remained unchanged all along.
I respect these things do take time but am I wrong in saying that each and every one of us long term investors would have expected a little more progress at this point? I'm sure things will all turn out good in the end although when that will be is the million dollar question...
"In the long run, we're all dead"
The Tanzanian dry season supposedly starts from next month and finishes in October and so it's looking like it could be another 13 months until we see any tangible progress (i.e. mine build) at this point... I have no doubt the BOD will spend this time very wisely - just like they did whilst they awaited the mining license approval (ha ha!)
Fingers crossed I'm proved wrong. GLA
I would AIM but I’m not a very experienced CEO of a company sitting on a major resource, I’m just a measly investor…
Another week of silence? It's certainly looking that way...
Okay thanks - so opportunity cost seems to be the common denominator as a reason for the dip then.
And apologies if my use of 'pesky' came across in a negative light - I meant it in good jest as I too have been a pesky trader myself at one point. Also, I'm pleased to say that I'm not 'stuck' with my average sitting at about 3.6p. Still profit on the paper (I just want more!!) GLA
That would make some sense, down nearly 25% since year start... the opportunity cost must be pretty high for these pesky traders if they're willing to take a 20-odd-% hit on a one month investment! Or more money than sense?
Share price is now back to where it was exactly a year ago at 4.0p. Frustrating? Yes. But despite this I have to say that I am a little bewildered by the people who are selling today - they could have sold at any point in the past year for a higher price yet they decide to do it now when, in theory, we are closer to the jackpot than ever. Seems very illogical...
Is this merely down to human impatience or are am I missing something bigger?
The update we all needed... nice to know they have been busy after all! Certainly wouldn't be doing all this hard work for nothing - confidence restored.
And the fact they're expanding the adjacent exploration area is very promising indeed; this mine's already a monster so just imagine the possibilities if the project is expanded... GLA
Not seen volume here this low for a long time... nobody buying, nobody selling.
Hang tight...
05/06/2020 - DFS update increases Mahenge NPV to $430 million (19 months ago)
02/07/2020 - Mining Licence Application Submitted (18 months ago)
03/09/2021 - Mahenge Mining Licence Granted ?(4 months ago)
It's been 19 months since the final DFS update and the subsequent project economics were released and 18 months since the mining application was submitted. How many more months must we wait until we receive some positive news? I understand arguments such as 'the economics change' and 'they wouldn't want to commit resources to advancing the project until the knew the mining license would be granted' but to me these are weak arguments considering the economics are unlikely to change drastically and that the license application was an 'all or nothing' scenario anyway. The board had ample time to prepare whilst waiting on the license results anyway and yet a 1/3 of a year has passed since and we've not even had a whiff of anything positive. I do understand that financing/off-take deals are some of the most crucial aspects of launching a mine and clearly I want the board to get the best deal they possibly can (which understandably may take time).
All I'm saying is that I'd love to be a fly on the wall in Matt Bull's office to see how efficiently he spends his working days... any predictions of when we may receive some game changing news would be much welcomed! TIA