focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Some posters are now saying that Regional did not have the authority to approve since water is such a national issue. If that is the case, then the whole BOD should resign en masse for dealing several years with an entity with no clout. I am confident that regional had the clout, but have 'passed the buck' upwards, in case of repercussions if the mine water supply impacts local considerations, and there is lots of flack flying around. Contrary to some posters beliefs, I cannot see an imminent fix here. Dorothy, no need to 'buckle up'.
Good info. GW62, and reinforces my suggestion that Local did not want to commit to the EISA in case the mine caused harm in the local environment, and so has passed the buck to National. The project is clearly needed on an employment basis, but OCP may have a different opinion. If my opine is correct, then National will be between a rock and a hard place, since granting the EISA, and if the wheels fall of, local will give the grief, and the bill, to National. We may have to wait a long time for water issues to be resolved, either by natural causes, or by man made engineering.
For all of the posters who stated that awarding EISA was a 'gimme', I trust this has been a wake up call.
I have no worries owning Plus, unlike a few of my other shares.lol
A re-rate will happen when the BOD desist from the BB programme and pay a divi which reflects the companies profit.
Savaloy. you were obviously not invested here when Plus was trading at £2+. I'm happy to say I was, and £2 to £19 is a re-rate in anyone's book.
After viewing his video, I am surprised II's have not called for an EGM to oust him. As has previously been mentioned, he is a liar, and therefore anything he says has to be dismissed. His comment that he knew the EISA would be 'referred' is a lie, and laughable. The RNS clearly stated that Regional was unable to approve the application, and that Emmerson had exercised it's right to refer to National. Not Regional had referred. Ho looked very uncomfortable. I will have to pull back from my 15p target if/when EISA approved, since with approval, this clown will not get this project through to fruition. The market is still selling following his interview, and paltry share buys.
For those unaware, his mail address is;
Graham.Clarke @ emmersonplc.com
I have no idea how the MC can decrease. It was trading at above £19 a few months ago, and since then the no. of shares in issue has reduced by a few %age points through share BB.. The shares being bought are from the open market, and hence, should appear in the daily reported buy/sells. This, in theory, should not affect the sp since the buys have an obvious equivilent sell. The fundamentals of the company, if anything, have got better. Logic says we should be trading at £20+ and a PE of c7/8, rather than the present PE of 4.5.. 80m shares in issue cannot be too many for a company with this T/O?. When/if the BOD drops this BB, and pays out 60% of EBITDA to S/H through divis, the re-rate will be phenomenal. Please bring it on.
Just a small technical point. The no. of 'shareholders' is not falling fast, it is the no. of shares in issue which is falling through the 'share buy back' scheme'.
Theoretically, the MC should remain the same, since the co. fundamentals remain the same, and hence the sp should rise to maintain the same MC.
I am disappointed the 'bought back' shares are not cancelled, rather than put in Treasury, where they can be reintroduced to the register at any time by BOD approval, either 'given', or 'bought'
Thorpe;
'may lodge an appeal'
I did not see those words in the RNS. A poster mentioned before, sorry, forget who it was, that it was being referred, not appealed.
'· Environmental approval for the project referred from regional level to the national Commission Ministérielle de Pilotage (''Committee'' or ''Ministerial Committee'')'
There is a difference between being 'appealed' and 'referred'. Unfortunately, the outcome may be the same. I'm hoping that it is simply a case that the Regional boys are wary of any backlash from National boys if submission granted, and then environmental issues ensue.
I have asked EML for a description of the 'brine' applications, which was news to me, since I do not recall brine being mentioned before. I previously mentioned the use of sea water to negate 'water' problems. It appears EML is not able to contain water on site and there are run off problems to the surrounding areas. Their submission of deep ground injection of brine was dismissed. The revelation, to me at least, that our engineering company has close ties with the regulating authorities, seems to be as useful as water wings on Michael Phelps.
I suggest PHE had had technical difficulties in the past with the thermodynamics of the operation in the TCC. Thermodynamic considerations are Temp and Pressure. To be able to control these metrics, and have differing Thermodynamics in a relatively small space of a TCC, is no mean feat. Both temp. and pressure will migrate, with some ease, to areas of lower temp. and pressure to maintain equilibrium. Naturally there will be optimum thermodynamics to yield the desired product. The operation is anaerobic, and one method of attaining a temp differential in a zone is to inject a chemically stable gas, such as Argon, to lower the temp, and increase pressure. This would have to be a continuous operation since equilibrium forces are paramount. It has had 10yrs plus to think about these technical things, and the only problem that PHE is facing now, is to build the damn thing, get it treating waste plastic successfully and sell it.
One final thing on Patents. If a company employee invents an 'operation' at a workplace, the ownership of the rights belong exclusively to the company. This was the situation some years ago, and I haven't read of any changes to that.
Yes Kim, I sold my remaining 25% following that RNS. I will now stick with my sentiments I have expressed on here, to buy when/if EISA is issued. The rice may well hit 15p, with 95% of the risk removed. Buying now may simply be a case of throwing good money after bad money.
GGG & Ideas,I have sent my mail to the Regulators on AIM , and copied EML.
Fraud. You had my post of yesterday deleted. here it is. sorry to other posters for this, but he said he is leaving the Board, which he has stated many times, but keeps an eye in to remove posts he doesn't like, like this one;
' When facts are on your side, argue facts. When the Law is on your side, argue Law. When you have neither, call yourself a Dr,
Like others, I think it's a relatively cheap way to distract from their incompetence. All of us would much prefer a statement laying out the actual correspondence from the regional Authority on why it was unable to proceed with EISA application, and what were the perceived obstacles to the companies 'water' solutions. It is not disclosing trade secrets, It would have RNS a Patent application had it invented a solution to transform mining. If must be aware of PI concerns about the running of the company, and yet, again, it decides to do nothing, except buy shares in numbers, well below what some PI's hold. If the Board bought 1/2 million pounds worth, I would buy more.
Again, as has been mentioned, no timeline on the referral to National level. One poster thinks it will only be 'days' before it is approved, some think it could drag on for months, or until reservoirs are full. ( most unlikely this year.)
It is a sorry state of affairs, again brought on by this incompetent BOD, who insist on Mushroom Management.
Aandi;
'Here you go testpack. Research notes from the past 3 years' ( I changed your effort at humour)
No Aandi there were 2 items from 2021 which were EQT statements. Not RN.
The earliest RN you posted was Nov 22, ( 8 months ago. lol), Cannacord, with a 2p price target. It certainly appears to have it's finger on the pulse. As I have repeatedly suggested to you. RN are toilet paper.
Chisler. You have joined the Herd. I'm disappointed.
' It is not a rejection, they were unable to approve' oh dear Chisler.
You apply for a loan from a Bank, the reply is 'we are not able to approve the loan.' So Chisler, it's not a rejection because it did not say 'we reject your application', when do you think you will receive the loan? I'll give you a clue, try again when you meet heir requirements.
For all anyone on here knows, the correspondence to EML might have said 'rejected', but EML would spin that.
You are correct in that it is not being appealed to the highest authority, only referred since it is unhappy, obviously, with the 'locals' decisions. So, EML believe it was rejected. It is obvious that the Regional Authority has both the power to award, or reject the application. The only +ve spin I can put on it, is that the Regional Authority are fearful of the consequences from National Govt, if it awards EISA, which it was inclined to do, and then problems ensue with pollution and demands on local water. So, it is passing the buck.
You see MtsticMat, it's about thinking, something you are clearly very bad at. Also, Mystic, earlier you posted;
'Plenty of great people on this board who show their intelligence by being polite and aware of themselves.
You lack this basic function. Which makes you come across as a huge twat, I'll keep being me and posting as I do.'
Polite and twat in the same post. Sums you up perfectly.
Fraudanomoly aka waterooohaah. Posted a diatribe of a 3rd former attempting to join an 'obnoxious fool' club. Application successful Fraud. It included this;
'" Yet your ceaseless self-promotion suggests less of an enlightening lighthouse,''
Says the fool whose avatar was DrAnomoly. Has been twigged and so changes it. Guilty as charged fraud. You are the fraud, narcissist and promoter of the many guilty PDMR's at PHE who you 'bootlick' ( it is the polite version), and bend over to please. You have no business acumen, and because I stated on this board, the same day that PHE RNS their transaction with Peel, that it was schoolboy mangmnt to hand the building of FOAK to a third party, you are so disappointed that I was proved correct, that you resort to a diatribe which says more about your lack of business understanding than mine. You are obviously jealous of my properties in Brasil, one in Copacabana, t'other in mountains, that you can't bring yourself to believe it. C'mon down Bob and I'll show you.
MysticMat. BTS put you in your place with his post. Not forgetting, the water is still the problem, and if Authorities gave OCP a License to mine and EISA, if EML did not take them to Court, S/H's would. You are very naive in business dealings.
MysticMat. Your comments show a deeply jealous streak in you, and also an admiration of my analysis. Get over it Mystic, it's called being educated. You probably have an account on another BB and have reposted my post, obviously without the credid. lol. Also the sp put your 'i expect this to hit 3.7 -4.1p in context. Clueless, but I've known that for a long time Mystic.
Aandi still touting useless research notes, which are biased, and paid for by EQT. I wish he'd publish some from 2,3 4 5 years ago, and we can see how laughable they are. The target of 1.3p is 60% lower then the sp of 3 years ago. I.3p sp would give a MC of c£150M. Aandi will now roll out the' pipeline of orders' to show how that can be achieved. Laughable Aandi.