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In what way. Seems to me that they knew damn well at mines and money half way through the quarter that all was not well. Then they missed the quarterly update date by a few weeks and announced the poor performance in a presentation rather than an RNS. They had plenty of opportunity to manage the markets expectations and did not. Transparency integrity and honesty are not words that spring to mind here. Prior to this information I was firmly of the opinion that Mwa was not going to need more funding, now I wonder. The balance is very fine and operational performance on both gold and nickel have sent prospects tumbling. However that said I will be a buyer again at 1.5p.

I managed to dump 949416 when I read the news at 1.89 and 1.87. Looks like a good move now to limit my losses. The jury is out for me, Kalaa and co have shown themselves to be underhand. If they had just announced on the 20th January when they should have I am sure many would have taken it on the chin rather than in the gut. I wonder how Kalaa felt going to Indaba with a presentation that shows the company is not viable in it's present form.

So I guess we now know why the quarterly update is late. Figures have been released at Indaba and show both nickel and gold making a loss for every oz and every ton. All in sustainable costs up massively. Nickel $17039 a ton as the head grade plunges. Gold $1304 oz all in. Diamond production has doubled which is the only good news. The news was held back by the cowardly management who have leaked this through a presentation. What a scummy thing to do. No wonder Kalaa was not buying. Properly delivered with full explanation would be the way forwards.

I agree but I would like to see Mwa grow up and reach the conclusion it's the right thing to do and just do it. If they intend to go to the next level they need to sort this detail now. PR doesn't mean partly reliable.

Matt I think they do a good job at missing the point. Never mind as long as they continue to do the business on the ground we will not be too upset.

I heard today from Caroline at Mwa in response to a challenge I sent about the lateness of the quarterly update. It appears that they don't see an expectation in the market that the date of release in previous years will create expectation this year. To me it shows a lack of understanding about the AIM and shareholders. We will have the quarterly update soon. I guess if they are focused on the ground that is not a bad thing but they need to keep an eye on the share value. I think we need consistency and transparency.

But maybe they just see better short term opportunity elsewhere. They can't all have our vision. Keep the faith, MWA is a solid company with excellent opportunity and the cash and talent to make the most of it. However as a package it is still maturing. Today the group is profitable but very soon the cash profit will be hard to ignore. We need commodity prices to increase and sentiment to improve.

We will not hear about the bond until 2 nd march

When I spoke to Caroline the other day she was quite specific that the one month additional investment window would not delay the restart of the smelter. This article is lifted from the one on the new Zimbabwe site. It will be interesting to see what happens but right now I am expecting the smelter to start testing in the Summer and be producing late summer.

Or bed and ISA I suspect. Agreed regarding next week, plenty pending.

The company have never said when the update was due; any guesses are just based on previous years. On Monday Caroline said they will be out shortly. It is tempting to assume the worst because it is later than we expect but there could well be something going on in the background. Half way through the last quarter I spoke with Kalaa who said the quarter was on course so I have no reason to think much has changed. The bond was merely extended, not unreasonable given this is the first of it's kind in Zimbabwe. All will be revealed in due course.

I see no reason why we should expect a poor quarterly update and the bond is still open for several weeks yet. We are approaching the news window from the extensive Copper exploration at Katanga. Plenty pending in the near term to extend this share price in the upwards direction.

There is an expectation that H2 operational performance will be much better than H1. There is much to support that view. The commodity values have certainly been a challenge but right now both nickel and gold are providing good margins assuming they have maintained the strong operational performance. The Q3 figures should help the market understand where mwa are going with both projects.

Jeff's the last quarterly update was excellent. Gold production up 23% all in gold costs down 17% to $1061 oz. Nickel production up 5%.

why must it not be good news? How many times has the market made the mistake of associating late with bad. I certainly would not make an investment decision on that when the current share price is already making assumptions.

I guess we will have to wait and see. My hopes are Gold at $1050 all-in and Nickel at $13000. The costs are largely related to volume which should be increasing with the new and upgraded equipment on site. The current quarter is the first with all the work complete but the last quarter will have had some of the work complete so I suspect we will see some improvements. The update is well overdue.

Yes one zero too many. You can look through your scrap metal sack but that is part of the beauty of Nickel the scrap exposure is very small so when the price go up scrap does not rise to meet demand only virgin supply can do that.

I have taken a few more at 1.875p today. Nickel is looking slightly more buoyant today currently at $153300 ton. The timetable for the quarterly update is described as soon by the company. Not particularly helpful but hopefully that means this week. I have also had confirmation that the extension on the bond does not impact the timeline for the smelter restart which is progressing as expected. The bond is discussed as a formality by the company.

One is no better than the other it is all in the timing. Any assessment is backwards looking whereas the future is the important view. I believe there are significant game changers in the short term that will turn this around. How far depends on gold and nickel.

I suspect they are closed by the bond in Zimbabwe. The quarterly update is late by my reckoning as it has generally been between the 20th and the 23rd.