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if the board have told investors they do not need to vote when in fact they do, it may be possible to legally challenge the outcome and make the company arrange a revote. that would **** them off a little.
Https://www.burges-salmon.com/news-and-insight/publications/guide-to-public-takeovers-in-the-uk
One point I have is that the Board obtained the agreement of certain shareholders to vote for the takeover before the RNS announcing the deal was released. Stinks of insider dealing and surely against regulations. FCA would be interested.
One minor omission. Talaxis had an option to pay for the mine and give us a free carry. Now the mine financing depends on other sources.
I loved this share a few years ago. Loads of cash and a great route to production. Shame how times have changed.
Not invested here at the moment but I cannot see any communication from the Board regarding the results of the rutile samples that were sent for analysis in Dec 2020.
The RNS said " All samples have now been transported overland from Malawi to a specialist assay laboratory, Scientific Services in Cape Town, South Africa. Preparation of samples for heavy mineral separation is in progress, following which detailed mineralogical analysis will take place. The Company looks forward to updating the market further once it has received and evaluated the assay and mineralogical results."
This delay of over 3 years is incredible and shows how selective the Board are with the news they pass on to the market.
I don't know the reason for the delay in the MDA but no doubt Cotec are getting ready to increase their stake in the project.
At the moment it seems that Malawi under the current government is a no go for international investment. They are too slow moving and it appears too greedy in their demands.
Now proper medication and not just another novelty product
The funding will come from Cotec but they will want a bigger slice of the pie.
I walked past their offices the other day. High up on the edge of Salisbury Plain surrendered by MOD land training land and very near the abandoned village of Imber. Cotec are basically in a bunker and I guess the MOD are heavily involved.