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Another article regarding the legal action and very pro SEPL it is, states SEPL history is all above board following good business practice, goes on to talk about the failings of the NNPC being unable to add any contributions to Nigeria's coffers.
It will be very interesting to see how this pans out, and if the journals in question publish an apology.
https://www.sunnewsonline.com/exxonmobil-seplat-deal-limits-of-propaganda/

This is welcome news for us more so for Kazera, I am currently invested in KMR a mineral sands miner, demand is strong with tight supply at present.
If they can get the processing plant up and running there should be good profits to made with their high grade sands, so if they can prove a successful operation Kazera will be worth investing in on this project alone, with a larger beach waiting in the wings for a permit to mine interesting times considering this is not their only project.

Pleasing results again even though the market ignores the progress we make paying down debt, consistency of mining operation without disruptions, throw in improved guidance for good measure, still not a flicker from the market.
Very pleased to see that the local community is seeing some benefit of having the mine on their doorstep this will hopefully increase over time as having the backing of the local communities is worth its weight in gold lol.
Still happy holding, the gold price is still under pressure at $1733 per oz, seems as though it is not the safe haven I thought it would be when economies are under real pressure with energy prices, inflation and a depression, forecast there is still time for that to change.
Good to see our AISC still under $1000 it wouldn't of been a suprise if it had risen slightly.

Superb financials with excellent results from the recent well both production wise and paying for itself in such a short time.
Manolo certainly has the midas touch everything he has done of late has paid off handsomely he must have assembled a good technical crew to consistently deliver without engineering or operational setbacks.
If only the onp was under his control as this seems to be the major issue blocking our route to the stars.
Hopefully we can secure a few more barges as insurance against further disruptions.

I have chosen to take advantage of our rise by cashing in the majority of my holding the prospects for the company looks great, however government interference also looks more than possible, when the reality of high utility bills begins to be a reality and hits home as it will shortly it will all be SQZ fault especially with record profits, easy target to cover the incompetence of our politicians and the green lobby and the baying public at large.
If they don't extend the wealth tax I will be happy to pay a premium to buy back in to increase my holdings.

Echo what has been said, our markets seem to be bucking the recession fears that is effecting other areas of the economy but we are facing inflation costs on freight,wages and fuel etc but for now we are in a tight market and generating good profits some of which is finding its way to us at an increasing rate via the divi.
It does seem a little like deja vu regarding the WCP move by then we will cash positive then take a step backwards again.
Our fundamentals are sound but if the markets crash again we will get dragged down with it however I feel the market has not fully recognized the value here.
As mentioned earlier if the ship was not in dry dock our figures would be significantly better and it is disappointing market reaction today.
Good to see they have been getting to grips with the slimes issue and are on top if it.
All in all we are in great shape.

Great news just a reminder,

Seplat agreed to pay $1,283 million-plus a contingent consideration of up to $300 million. The effective date is January 1, 2021, and completion is expected in H2 2022, pending ministerial approval.

Seplat’s debt financing of $825 million is fully committed by a syndicate of Nigerian and African banks, and energy and commodity traders.

If completed, the deal will be transformational for Seplat Energy, which is already the leading indigenous company in Nigeria, and will triple its working interest production to over 140,000 barrels of oil equivalent daily (boe/d), to account for 15% of Nigeria’s oil production.

Although this is Seplat’s first offshore purchase, it will acquire all of MPNU’s Nigerian staff, thus allaying any concerns about its operational capabilities.

When the facts are laid bare in front you it makes you wonder about the workings of market, the effect of our recent ii selling out a significant % must be drag on our sp,is the only major stumbling block that comes to mind, however I would of thought others would be jumping in to fill the void.
I know we have had our problems but they have all been overcome eventually and credit must go to the management for that, although I am with you regarding issuing more free shares, and hedging when in a lower oil environment with debts to pay, it seems odd to disregard when we all know what can happen if it goes wrong this highlights our Manolo is a bit of a risk taker.
As each day that passes more $ in the coffers, compared to this time last year only our sp disappoints.

I will be interested to see how KZG mineral sands venture progresses the grades are fantastic, plus they are after another beach to mine of much greater size with assumed similar grades, if all goes well it should be very profitable, however there have been many comps on aim were potential comes to nothing, this is only one of the irons they have in the fire, if they can generate some free cash flow it bodes well for their other operations.

Interesting history, it seems this guy has no scruples and certainly no allegiance to shareholders makes me wonder why this unsavoury character has found a home at JSE.

Excellent results today EBITDA up over 90% says it all, healthy bank balance and a good opportunity to reduce net debt to lower levels while high oil prices persist.
Confident the acquisition of MPNU will conclude, if it does it will triple production mind boggling.
The pipeline export route is welcome news from a security viewpoint, plenty of activities going forward with a minimum of ten well for 2022.
Moving out of high cost fields to focus on other opportunities.
Full year production 50-54k boepd, capex $160m.

Yes it is a great deal, the timeline shows how long it takes to get these deals done, it wouldn't be surprising if further deals are on the go right now for an increase in ownership of this asset as a small percentage ownership doesn't fit with their previous business model, nice to see the market respond in recognition.

Even though I am generally negative about our management, in fact justing thinking about the tender offer raises hackles, all that money thrown away we should be sitting on a cash pile with the sp at least 30% higher I am not down about the asset, or prospects.
Private equity must be rubbing their hands at the way this company is under performing, if not outright shorting it driving down the sp for the sting, let's be honest if an offer came in 30% above our closing price today it would probably be considered even though it should be laughed at.
With markets heading lower a recession probably on the cards we are ripe for a low ball offer and I have very little confidence in our board who if it was in their interests via a continuing role of some sort would recommend it imo.

I am suggesting that yes demand will decrease but I also see current worldwide production decreasing across the board due to processing costs, the new production due online delayed due to market conditions that would not be a suprise.
So as unlikely as it seems on day like today when the dust settles I can see that it is possible for a deficit to appear in the market.
This is dependent on the new forecast production not coming online when expected I think it will be delayed, figures revalued then the reality hits we have a shortage.
One thing is for sure, if there is no money to be made from Cu then it doesn't bode well for rest of the economy.

So they reckon copper supply will outpace demand over the next two years, depending though on new supply coming online, interesting as interest rates rise and next one in a couple of weeks expected to be 1% maybe production will not hit the highs that is expected via the models run by the forecasters.
I am suggesting this fall in the copper price is not being driven by overproduction or a glut in inventories which are at reasonable levels compared to the historical trend however the market is pricing in a recession.

https://www.mining.com/web/global-copper-supply-to-outpace-demand-next-year-says-rbc/

Hindsight is a wonderful thing, there have been opportunities to get out here at a much elevated price than we currently have, we had the mystery sell off a while back, yes we knew about increasing electricity, we knew about a falling copper price, we knew about inflation and costs on the rise.
So ATYM might be well managed and is improving things were it can eg the solar plant, however external events have got the upper hand at present China lockdowns however it's a difficult decision whether to stick it out or sell, the only consolation I can see is volumes are low we are financially sound the drop is exaggerated on a generally downward few days for the market.

Results as expected due to the vessel maintenance hitting the shipping supply.
I could suggest we always miss opportunities to shine deliberately but I think that would be giving to much credit to those in charge.
We have our next major expenditure staring us in the face, a de-sliming plant added to the floatation units, only thing is we are behind schedule something should have been happening now, otherwise that will be the reason for guidance being reduced or not met, I can see the excuses now.
Would a switched on management do any better than our current board who have the ability to make a world class asset average.

Hi RedRoy,
Thanks for the feedback, seems like we are tracking the gold price lower rather than issues at the mine, nice to know they are also looking at improvements to what operationally has been a successful ramp up into sustained production.
We can't complain on how things are going as it seems everything is being addressed whether drilling to extend operations near mine or our opportunities in Senegal and Burkina Faso funded by our success at Segilola.
Only sp performance is a dissatisfaction at some point the market will hopefully will rectify that.

Interesting comparison the only thing I would add is both have managed to increase their financial health during weakening commodity prices, (not for Chrome) both have management's who know their markets and run their businesses accordingly.
SA seems to be discounted unfairly imo as a place to do business when as far as PGMs are concerned it's a world leader.
Another solid update in uncertain times.

Solid update today and we get mentioned first off in today's VSA morning miner.
https://m.soundcloud.com/user-596578261/5mmm-20220712-084357-meeting-recording