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Precisely Juxta. The graphite sector is riding a wave. The problem with ACP, is shareholders really have no idea what is happening with the Mahenge mine project. Two years ago we were told it was all go, now we are collecting weather data and completing the slowest FEED study known to corporate history.
I continue to believe there is an issue/delay at the Tanzanian government level. There have been a few Tanz Gov announcements re. the graphite sector, and they never mention Armadale. The Tanz Gov does have form for being extremely slow - they have large reserves of gas offshore which remain firmly under the seabed for example.
Hopefully after the last two years of stalling, ACP will start to deliver some meaningful news. It’s a Hold for me, but the sector does seem to be pulling ACP up, so potentially a nice entry point for newbies.
Don’t be boring Dan…
I actually fully agree with Amtech’s point of view, but he needs to relax. I hope he hasn’t lost his shirt on this share. I have lost a large sum on this and feel exactly the same, but you live and learn. The FCA have a reporting system for insider trading, but I couldn’t find anywhere to report sh*t*y directors - most AIM directors would find themselves reported to be fair.
The graphite wave of last week seems to have petered out.
It’s been radio silence from the board. They know something that the market does not.
Another question, when is the FFED study concluding?
Neither are good.
Dan, the share price used to be 6p. It is now under 1p. Last two years have been a failure. Simple. Either they lied, or they misread the situation badly. Perhaps you are in for a trade from 0.5p and want to talk the company up, that’s fine. Longer term investors are heavily underwater.
Amtech talks the truth. Problem is the truth hurts. Like some of the other AIM miners, they have failed to deliver what they promised. Trust is gone, and only genuine signed progress counts from here on.
If our lazy BOD had actually made even the most minimal effort to support the share price over the last two years, we could have bounced 50% from a price like 3p. However the SP is so pitifully low, bouncing by 50%+ has made a near negligible difference to long-term investors. My disdain for them is very strong.
Although this has risen from sweet FA to sweet FA + 35%, it will now catch the eyes of those who track the Big Movers on AIM, so could see some momentum. Ultimately I wonder if best plan is to sell the company or concession to a bigger player. I wonder if we could see a ‘growing interest in the company’ type announcement in coming days or weeks.
With the annihilation of the share price, the company have to make an announcement tomorrow. Otherwise it really does send the signal that this is what they expected to happen and that the current share price is fair value.
Whilst I think the ‘we are waiting for Blackrock’ chat is a load of nonsense, it will at least pave the way for Armadale if a mine gets financed just down the road.