Strategic Natural Resources Forum

Do we think Elitheni mine will reopen

well, if they trust Merriam, I suppose that it is time there is some stand-up leadership to lead them...

WHAT ABOUT BLAIR MERRIAM

NOTHING HAPPENING THEN,WILL I EVER GET PAYED

Elitheni web site blank whats happening????????

very frustrating that nothing seems to be happening

SNR together with its other Elitheni shareholders are committed to the upliftment and meaningful contributions to all regional and local stakeholders. To this end it will continue to fulfil its commitments in terms of its Social and Labour plan, details of which are contained in the last Annual Report of SNR. What this endorsement of the mine means to the Company, amongst other things, is the ability to raise funds and the interest of potential parties will be heightened. Shareholders must understand that there is a new SNR board and Elitheni management in place and further board members and management will be added in due course, all of which will be communicated to shareholders and interested parties. Moving forward, the parties involved are and will be from the mining industry and with the relevant experience and commercial drive to work towards a successful return on investment for shareholders. The Company would also ask that investors recognise that this is a new team in place and whilst there have been many unsettling changes for investors at SNR, the Company feels it is now, finally, on the right track. In due course and once all the necessary evaluations are complete, a re-listing of SNR Plc on a recognized stock exchange will take place and a new Competent Persons Report (CPR) will be delivered on Elitheni and this will show investors the value of the mine today, allowing for mining methods to be employed, coal reserves and resources in place, mining, production and sales costs and the various currency relationships. This will be coupled with the raising of the necessary financial resources to complete the full development of the mine. Investors should be reminded that as of the last CPR commissioned, the mine had a value of between £107-£122 million.

just read some news on the ADVFN new board appointed and put value on the mine at 107 to 122m, great news if true but at this point i will not hold my breath although it does talk about re listing.

Mine in Queenstown is moth-balled and judgments left, right and centre against Elitheni. Sheriff seized all the assets for judgment creditors and have been auctioned. Plenty empty promises, nothing delivered. Would not believe a single word uttered and no way creditors will allow this entity to trade without being paid.

update really OMG yes me too