Hidden messages6 Jan 2019 10:47
It’s clear that Fortuna was a waste of time and money so here’s my two pence .....
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Announced that they have applied for renewal of licence knowing well that an offer is on the way ......
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Announce offer via press release at 7pm British time which is strange but I believe it was to build the hype ..
Money , time and a lot of stress / effort lost in the assets they have ..... world class they may be but by the time they come in to production the world could be in recession...
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They knew all along Fortuna was not going to happen hence the early announcement ......BUT WHY DID THEY NOT renew it ? ......
because indonisa and Equatorial Guinea just don’t mix and the state of EG have been somewhat internally informed of the sale hence they were not sure if the new potential owners or the risk it will bring. .
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The whole saga stinks, I really feel for LTH here as I got in near the lows but truth be told it’s all about qeography when it comes to value ... it’s why Asian / African companies be it oil / mining etc have a lower valuation due to higher risks.
Good luck, although it’s priced in , the market will just read the negatives and mark it lower .... it’s life.