RE: super grades10 Jan 2022 09:50
I wondered why this was down on an update like this, as everything was looking decent, then got towards the bottom of the RNS:
"Additionally, the Company notes the announcement yesterday of sanctions imposed on Mali, with immediate effect, by ECOWAS ("Economic Community of West African States"), in response to the Government of Mali's proposed timetable to hold elections. The sanctions pertain to restrictions on the movement of cash, people and goods, across borders, into and out of Mali from the wider ECOWAS region. The Company is evaluating the immediate risks to our supply chain and whilst all plans will be made to minimise the potential impact it is too early to say how these sanctions may potentially affect our business. Further updates will be provided as and when appropriate."
Clearly the market is concerned about "The sanctions pertain to restrictions on the movement of cash, people and goods, across borders, into and out of Mali".
Apparently Mali's closed its own borders now in response (seems a bit cutting off your nose to spite your face): https://www.aljazeera.com/news/2022/1/10/mali-strongly-condemns-ecowas-ilegal-sanctions