Member Info for westie50

Pleased with the update. Nothing negative

Certainly a positive start CBax. Nice to see

https://www.emmersonplc.com/wp-content/uploads/2022/03/Shard-Capital-EML-25-3-2022-R.pdf

"Positive" and "confident" were used. Please explain to me where there is any doubt about the use of these words.

The email was consistent with correspondence I've received from the company. I know what i read.

Anyway i'm not going to get into discussion about grammar and the use of words. It's all clear to me which is all that matters really.

I'm with GW62 and Slurms. "confident" means exactly that in that they're showing certainly of a good outcome. Until I see different, I'll keep my glass half full. There was no negativity at all in the email reply.

Audible I didn't say "they" were in Morocco, just RJ.

The Arabic on that tweet I think says Good Morning Rabat

https://twitter.com/JoyRupert/status/1501450065663168513?s=20&t=p08PO9hN3kHwqdQSoHTDYQ

Rupert in Morocco

Always happy to share positive info re EML. Looks as though the sp is reacting to the paper as well.

https://www.emmersonplc.com/wp-content/uploads/2022/03/OriorCap-Emmerson_2022_03_03.pdf

Not heard of them but the paper contains some eye watering figures.

Ideas - i take your point re RNS. Of course I do not believe the company is under any obligation to report short term progress or not as the case maybe. I do think if the worst happened and the permit was refused, then there'd be an obligation to RNS. I really don't think that's anywhere near the case and it's purely a matter of maintaining our patience while the Moroccan bureaucracy progresses.

My ten penneth worth where we are now and i should say I've always been a glass half full person.

Graham and various other persons associated with EML took the first opportunity of visiting Morocco. The key person (apart from Graham) in my view was the fact Rupert Joy was there as well. I don't see him as having any particular knowledge of potash and mining so why was he there? I can only think his diplomatic expertise and Moroccan contacts was the reason he attended.

So in my view this visit must have included in some way the progress of the ESIA. So with my glass half full attitude, surely if there is still a problem with the permit, then something would have to have been RNS'd by now. I therefore think the permit will be issued and we're waiting for Moroccan bureaucracy to run its course. How long that will take? Well your guess is as good as mine. I just hope i'm right. The silence is not great.

We can only speculate Takayama. I do feel the permit will make some difference re giving some positivity, but other than that i'm guessing

I'm actually comfortable on all three coming thorough. I feel the debt package will be in the region of $300m with the balance to be made up of another equity package/off-take. But that's just my opinion and roughly on what i've based my investment on. I'm sure others will have differing opinions.

The big question I have not having an engineering/mining background is can the proposed construction period of circa 2 years be clipped at all? It goes without saying the sooner we can get into production the better.

UncleJohn - Of course an RNS can be the only official view and price sensitive information will not be commented upon in an email. However as i mentioned before i've had success in EML replying, if only to clarify minor points.

We can all speculate on what might or might not have happened in the recent Moroccan visit. We'll have to wait for an RNS to see what actually happened. Oh and no I don't believe everyone has been duped. If you believe that you really shouldn't be holding shares here.

Afternoon TP3. I am most certainly not someone who knows all about the company and am probably in the dark as much as you are. To that end I really have no idea whether any of the BODs are still in the company. A personal opinion is that I really can't believe having gone to Morocco that the ESIA wasn't on the agenda at some stage. Quite how long it will take to issue the permit after meetings - well your guess is as good as mine.

So as i understand it, a mine cannot be built without the permit but they can continue with various pre construction works.

Emmerson are not the best at replying to enquiries sent via their website. You might try emailing Hayden or Graham directly? Worth a try as i've had success that way in the past. The tweets put out, although making interesting reading do not give a lot of substance. Ultimately, as you say, RNSs are the gold standard

I know how you feel Trev. I still have a lot of faith Q1 will see significant progress

TP3 - you could make some enquiries yourself instead of relying on others.

Yes Hayden's comments were last year and i'll correct my earlier post in that he commented the bank balance was around £4m. However he also said any raise would be via a strategic partner. One was announced in November and we can expect another one in the coming weeks/months assuming any debt deal wont cover the whole capital requirements. I can see no need for a placing.

Matador78 - No we're not expecting another placing, far from it. Have a listen to Hayden's comments just before Christmas when when he emphatically denied the need for another placing with over £5m in the bank. Slurms has already alluded to this being highly unlikely.