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Thanks for this Beyond the sea, whilst not strictly confirmatory in my view it does show the direction of travel in relation to the approval and the fact that it has in effect been signed off at National Level, which must make it more tricky for the local council to throw out. Emmerson need to get on ASAP and get their revised application in demonstrating significant reduced water usage. Some proper clear unambiguous comment from EML is required setting out its revised time scales etc.
Personally I suspect there is far more than one seller. The real problem is not the seller, whose sales could be easily accommodated but the fact that at the moment there has been no reason why new buyers should buy in, save that actually even without any news the sp is now ridiculously low.
Frankly a decision could land from any time now onwards, when it actually lands is anybody's guess. Would be nice to get a great xmas present!!
Whilst it is extremely disappointing that we have not had any updates from EML for a couple of months, I for one, remain sanguine. The reason being that the Moroccan authorities could have rejected this application at any stage and EML would have to have put out an RNS about it. The implication is that in due course there will be a permit but at present there is still haggling over the conditions. Nothing that has been said by the BoD implies otherwise. I am not in any way saying it is certain, and clearly it is not without risk, a risk I for the moment am prepared to run with. I certainly wouldn't put all my eggs in one basket!
A point to note here is that this project is 95% constructed. i.e. the decision on lithium batteries would have been taken some while ago and doesn't represent the current status with regard to VRFB, so hopefully VRFB will feature in one or more of their Phase 2 projects.
Ironically it is the large number of small PI's selling that has driven the price so low, and now made financing the shortfall very difficult. It may well also be that this has not been helped by algorythmic trading, plus the stopping out of all the spread betters.
Ironically only 25 of the cars were electric, yet it is thought to be one of the electric cars that caused all the damage. Could really only have been a fault with the Lithium battery
Whilst I never like share placings, in the scheme of things this is small beer and ensures that there is enough cash in the Bank. It also implies that GRX are not aware of any imminent positive out come to the polish arbitration
Voltaire, one point to note was that even at a few minutes after 8.00 the price was down 35% when there was hardly any volume at all, i.e. this was an MM's decision to generate business by wiping out in particular the spread betters. In the scheme of things the volume is not that great.
First the Bad News todays RNS has NOT delivered the EIA, but we never thought it would anyway as EML would have been crowing from the rooftops as soon as they got it.
NOW the GOOD news. The regional Council has not been prepared to make a decision. Why, this means that everything in technical terms is 100% o.k., because otherwise they could have issues a refusal. Basically the regional council has said they are not prepared to make a decision of such great magnitude for Morocco and that it should be done at National Level. We get the same sort of thing in this country on major projects. Therefore we know all is o.k. and it is going to be against the National interest of Morocco to refuse it. The only downside is delay. How long? 3-6 months I would guess then double it!!
Hillview. I suggest you put another bottle of champagne in the fridge. Look at it this way. A company is legally obliged to issue an RNS if any event occurs that materially adversely (or for the better) affects the company. No RNS has been issued and therefore I remain of the view that in due course the environmental permit will be issued, and in fact ever more so as the Morroccan authorities have had months and months to say NO.
With the exception of 2 shares I hold the rest are all in the doldrums. LTG, like most AIM co's reacts to News. The next news will be in about 4 weeks time. Personally I can't see any reason why LTG won't continue to make good progress and I currently think it is grossly undervalued like numerous other companies.
Lamp. Everything you say is correct. There is however a major additional point and that is BMN have failed to produce any financial information to show the health of the company or any good reason why anybody should invest. Therefore adverse sentiment rules and will continue to do so until these issues have been addressed. LTH know what is happening but frankly the average punter/investor has not got a clue and has nothing to rely on. When was the last positive broker note?
I am a lth and can see the end of the tunnel, but I well understand the current situation ridiculous though it is.
Yesterday there was a large excess sales ratio, and thus whilst today it is the other way round to an extent the MM's are still working through the sale stock, which they may have done now. I am sure you are well aware that buys need to exceed sales over a significant period of time for the sp to drift up. The problem has been that this hasn't happened and hence the slide down the greasy pole again. Where there is an overall outflow of funds this is an even more tricky pole to climb. As you well know markets and sentiment towards a share can change quickly and that is what we are all waiting for. It is coming, and will be with us once we have clear positive financials in black and white. LTH know the score, as yet we just can't prove it to everybody else.
HarChris, just to endorse your point, but to give another reason, which I haven't seen advanced by anybody. Yes, it is absolutely true that BMN is not alone in having a low share price relative to its achievements and worth.
I suspect there is a much wider argument at the moment and it is this. BMN and the AIM market generally is the province of private investors. Private Investors are withdrawing cash, if for no other reason than inflation/cost of living and this is evidenced by withdrawal of funds from the likes of Hargreaves Lansdown. Thus it is actually the strength of the financial results that will lure in a new breed of investor because the returns are too good too miss. Many of my investments are in the same boat and not just the mining sector, and all BB's bemoan the same thing. Markets do turn, and suddenly.
Pdub, I don't disagree with everything you say. The one issue in my mind is investor sentiment towards BMN. I would have hoped that the Orion deal would have gone some way to change this AND in the background I believe it has BUT not as yet sufficiently to move the SP northwards. Seeing positive financial results will be the trigger together with a rising vanadium price. At least then prospective investors won't have the worry of the Orion debt because that will all have been sorted. Whilst it is impossible to say what the sp will be in 12 months time I am prepared to bet it will be a long way north of the current level and I am therefore a confident LTH.
Copper1, whilst there is absolutely no guarantee of any deal relating to the Lithium frankly you don't go appointing Barclays as strategic adviser unless you think there is a genuine deal to be done. We will have to wait several weeks to see if this comes to anything. In the scheme of things that is nothing and well worth the wait in my book. I don't think it is being done to appease Orion.
Now you know why there was a lot of share buying last week by Cerrone.