Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I think the company misjudged the length of time to get the gov deal done, or at some point got told by the gov that it would be a long time until the deal went through. I suspect inexperience on the BOD’s front - they thought they were a lot closer time wise than they were, rather than downright lies. I know some that have done business with the Tanz gov, and they described it as a ‘nightmare’. Personally I think BOD have chosen not to reveal delays once they became aware they would occur, preferring silence instead. Either way, their bullish RNSs of imminent progress to financing and production were wrong. Many invested on the back of their bullish sentiment and promises, and have lost money as a result. I reluctantly hold.
The board have not been transparent in my opinion. They were so optimistic two/three years ago, but now, nothing. Clearly something has changed but they have not told the market. I agree with one of the comments below, that I think they are a long way down the Tanz government pecking list, that they have been told as much, and are having to sit on their hands until it’s their turn - and it’s anyone’s guess when that might be. I saw a little Tanz gov video several months back, and they mentioned the names of several graphite companies including Blackrock but there was no mention of Armadale. I just hope they haven’t p*ssed off the minister and been blackballed. If that were the case though, I doubt they would have been granted their licence.
I look forward to the day they announce some progress (that isn’t a weather vein report that is).
There has been a transfer of shares from one La Mancha fund to another La Mancha fund, that’s all. What I don’t understand is why it can’t just be done on one day in a single trade, but I’ve seen similar slow transfers before, sometimes between two companies. Not that unusual. Was wishful thinking on my part that it would go up once finished though…
All I know is there’s nowt you can do about it. It is obviously in some party’s interest to hold the SP flat, and the market makers are obliging them. It will end once the party has achieved their objective and the MM taken their commission. Could be worse, could be falling every day on no news and low trade volume - seen plenty of that on AIM.
Steven can you spare us the running commentary of your thought process. You say you made a small punt. Take it easy or sell up and move on. Discussion boards are for meaningful discussion not endless waffle from a single poster.
My feeling is there has been a large seller for a few weeks now, and today I think they tried to dump as many shares as possible on a higher volume day.
The FS looks fine to me, but I reckon it needs the next financing step for the re-rate to commence. Debt financing first hopefully.
Hoping today is the bottom.