Rutile Results15 Feb 2024 10:28
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.