Member Info for westie50

Great CC. Shame about then 10% ers who have descended and caused yet another spike in sp. Hopefully the true value of this company will shine through and we can move on instead of being stuck at these levels.

Cancel my last post. Now starting

Looks as though it's possibly delayed. Now showing as starting 1130 local

Yes Clint, I got the impression he was a bit thrown by the Director Share question. i don't think he handled it that well. As you say, their options will make them a pretty penny in time.

No worries Rumbled. Yes the fact he has even had a conversion with larger companies is comforting. He did dismiss outright though there had been any buyout offer - well i guess he would wouldn't he!

I can't remember his exact words re financing, but he specifically said the phased approach option they were looking at was not as a result of funding issues. He just gave an air of confidence.

Presentation just finished. On the whole he went over ground we're all aware of. Highlights for me:

Environmental Permit needed before funding can be tied up

It's likely to take 2/3 years to get to phase 2 of the phased approach and in his words, things should move "pretty quickly" to 3 and 4.

They have not had a buyout proposition however he knows larger companies have shown interest in the EML project.

Graham's definite preference is to continue along the Feasibility Study approach rather than the phased approach. He dismissed they were looking at a phased approach because they were having difficulty in financing. He did say he had no doubt the money could be raised.

No pressure from the Moroccan Government re signing up OCP although I get the impression they will have a central role to play eventually.

I just get the feeling they're close to getting a strategic partner on board once the environmental permit is received. (possibly this month but definitely H1)

He wouldn't comment on why the Directors had not bought more shares citing the fact they're mostly in a closed period.

Looking longterm, he didn't discount Emmerson using their expertise to further other projects.

I'm sure others will add who listed to to the presentation. I'm finding it hard to see a downside which is worrying as i normally can see a downside to everything!!

A good read SmallH

To add to my previous post, I would have thought the ask might have ticked up if they were all large buys??

Cyberbub, i'd like to think they were large buys but the fact they're identical figures make me think they're some sort of rollover. But in all honesty I haven't a clue!

The 2 x 5m trades were executed at mid price so could have been a buy or a sell

Artyth always kind. With my memory i just wondered if i'd missed a CC today!!

Sorry my spell check is playing up again. I really must proof read!!

"I'm sure we'll all be interested to know what you find out"

Jaygroom99 - What conference call today are you referring to?

Jonny Ringo welcome. I'd back up Redroy's comments.

Redroy many thanks for that. I'm sure we'd all be interested to now what you find out.

Uscita - If you don't believe what is said then why on earth are you invested here?

Probably because it's a Wednesday. It normally ticks up on a Wednesday and down on a Thursday

Thanks for sharing Clint. Graham I think mentioned in one of his recent videos that this project would not cause EML an issue not least because it wouldn't come on line until later this decade. Costs are astronomical compared to ours but i did like the comment in the article which suggested investors should move into potash stocks.

Redroy - you raise an interesting conundrum. I've trawled the company site plus various other searches but cant find a definitive answer. The Dec 2018 Annual Report and Financial `Statement (available on the EML site) has various shareholder information at that time, but I really cant find a reference to Starboard. I'll admit it's not an area i'd researched in the past but will keep digging. ATB

Well you can't fault Graham and EML for continuously advertising our asset. Not only is there an investor conference on the 4th May, there's now another one with Hardman on the 12th.

Audible I think you're right in that the 10% can be attributed to areas of the project. I've copied and pasted below comments from the Shore Capital notes on the EML website.

In December 2019, Emmerson reported that initial discussions with the Moroccan government indicated that direct cash subsidies and further tax concessions could be available (via negotiation) for Khemisset under a formal investment convention. The Moroccan government could potentially:

Fund up to 10% of Khemisset’s total capex in the form of direct cash subsidies, including: up to 5% of external infrastructure investment (e.g. power connection, road access, water intake, used water treatment, port upgrades); up to 20% of land acquisition costs; and up to 20% of approved employee training costs.
Provide additional tax concessions, including a three-year VAT exemption on equipment and plant purchases, and exemption from import tax duties on plant, equipment and mining machinery.
In addition, Emmerson also expects to benefit from invaluable formal support from government agencies in all project implementation processes.