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30 July 2012: League confident of nationalisation. Johannesburg - South Africa's mines will be nationalised and land will be expropriated. “Even the African National Congress... They say we are at the point where we must look in terms of which minerals to nationalise.” Lamola said the Youth League should defend its views and ensure these were made policy at the ANC's elective conference, to be held in Mangaung in December. http://www.iol.co.za/news/politics/league-confident-of-nationalisation-1.1352535#.UBdUdcUSBBk
The RNS this month states that it will be released anytime up to 30th September. So I agree, we should expect more share price falls until this is released. "The results of this study will be released in Q3 2012."
Fear u might be right, but hope you are wrong!
Now 7.6% down!. Says its all really - markets are going up today for once and SNRP is continuing falling.
Share price fallen another 6.3% already today.
Yeah, i agree Investkid. This is very worrying. Every further day the CPR is delayed, the price I fear is going to fall further in these markets. Next stop 15p.
I assume these Nationalisation and tax increase fears are not going to go away and will be increasing over the coming months, at least until the elective conference in December.
Taken from another board: The big danger with SNRP currently is the recent growing calls within South Africa for Nationalisation and Strategic Nationalisation with the state taking over strategic minerals and companies such as coal. So potentially there is the threat of investors losing their entire investment. " Delegates from six of the nine provinces last week pushed for mines and companies in the steel and energy industries to be taken over - a move that is being celebrated by the ANC Youth League and many provinces. The provinces are likely to push even harder for the controversial idea to become policy at the Mangaung elective conference in December. " In addition, there is the big risk of increased taxes which is also being considered which may greatly reduce both the profitability of SNRP and therefore the future share price. " Sowetanlive reported that a concerned party, that includes mining giants Da Beers, Namkwa, Anglo Gold, Gold fields, Wesizwe, Xtrata, Rio Tinto and BHP Billiton, warned the ANC "that proposals to increase tax levies on mining companies will result in mine closures, job losses, and place the mining sector at 'tipping point' of collapse." " I believe investors are being scared away with taking such big risks in this bear market when there are many other greatly undervalued shares with far less risks than SNRP.