we were told RHA profitable with electric. 6 months later nothing because it is doubtful it is profitable.
He can spin this through for years saying well its NIEFF holding things up.
The reality is if RHA was profitable we'd have been up and running the moment electricity was in place.
The MNH transaction was the one that pulled me into wow factor and that died the moment we were lied to about production expansion. If they had got their production expansion target we wouldn't need to place more shares for funding.
however, its clear that MNH isnt the profitable vision anyone basing their decision on the expansion thought it would be and doubtful it ever will be.
it also stands to reason a notoriously bureaucratic Zimbabwe Govt that struggles to function in the best of times will not do a thing with regard to RHA and the EPO process while Zimbabwe is in lockdown.
that means more placing money coming as soon as this last lot of shares has been churned.
so 3 weeks after the webinar exactly zilch had happened.
If they were going to start RHA tailings etc they would have done it back in February/March.
I cant see anything happening at RHA until they negotiate with NIEFF or place further shares for more funding to go it alone.
I cant see this negotiating happening until months after lockdown ends so he has a stark choice place more shares or wait and place more shares anyway.
ZULU - seriously cant see anything happening while Zimbabwe are in lockdown, will be months after lockdown ends.
MNH - Manganese prices have rocketed down at the same time as MNHs non existent expansion. Serious questions need to be asked for dropping over $1m into this and not achieving any positive expansion.
Circum - Anyone talking an IPO with potash prices having slid and still sliding is clutching at a miracle. Prices should recover 2021/2022 nothing happen till then as no institutional firm would bookbuild it to flotation.