RE: Volume6 Jul 2023 11:50
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!!