LSELondon South East
IIIInteractive Investor
DTMdiscussthemarket.comviz, I got fat fingers...so lets try again when this beauty awaits and the dream comes true, you will see this rocket and just don't miss out. have a good weekend all
Viz, good move if you got 0.22 when this sleeping beauty awakes and the dream has come
HSP CASTLEFORD TIGER
12 Dec 2014
too high in my opinion Much lower to go as everything looks weak.I expect sub 400p in 2015tiger
ORCP skeaman
12 Dec 2014
Why are we being squeezed out? This announcement raises a lot of questions, the obvious one being why? Why is the Pakistani government trying to take our only asset of us? Are they trying to do a deal directly with the Chinese and squeeze us out? How will this look to other companies who are considering investing in Pakistan? Their policy seems to be get the foreigners in to do the dirty work and then pull the mat from under them at the last possible moment.If the Pakistani Govt or Chinese want the Thar licence, then I for one would happily sell them my shares at a reasonable price. But to pull the licence is a very under hand way of getting our asset.Is there any hope of an appeal being successful in Pakistan, when it is a small British company versus the Government.I really hope there is and we can claw back some of our investment.
TTG The buzz
12 Dec 2014
Re: FD Throwing in the Towel Sadly, as feared, the share price has now fallen below £1 and is currently trading at 98-98.75p with some buying support. I suspect that the reason is probably a mixture of the market falls, the chart trend and the weak results from TTG making this share more risky in turbulent times. I will not buy back in at this price.The B
PTV pelleas
12 Dec 2014
Re: vert little activity..waiting news Sorry about that Vorda. I know this company has been a disaster for most. I had lost money but did indeed catch the falling knife at .007....instantly giving me all my money back + some.Now that it is nearly back to the same bottom price I have added again. This is however, admittedly, a speculative punt! Interesting to see whether a NOMAD is found by close of play
KIBO uniformtango
12 Dec 2014
Re: Carefully does it city watcherIndeed!Steve
WRES wobblywebb
12 Dec 2014
You lot off again ? Arguing the toss is not going to affect the SP neither up or down. We just have to accept that at the moment, most of us have been screwed and are sitting on big losses. There must be some winners in all of this. Lets hear from them.
AEY crudehope
12 Dec 2014
Re: Sound offer..... Green..........when the vote comes, kick them into touch & join an ambitious company.......Sound Oil. Our CEO, James Parsons is dynamic & something of a tactical genius. He spent 12 years with Shell developing new business & has a business degree. He has appointed 2 ex ENI senior managers who have technical skill & know how to manage the permit process. You may be aware that we have been awarded a drill permit for our flagship Nervesa field today. The two permits we have are regional & local & the final permit from UNIMIG is now a formality. It looks like we are drilling in January...........come & join us!Crude
RLD Relephant
12 Dec 2014
Re: Sadly probably best News of Tanzanian disinvestment was a big surprise and an initial disappointment. After all the time waiting for a Tanzanite mining turnaround it does seem a pity not to be around to share in this, if it happens. However after thinking about it a bit, I am now very much in favour of the deal. As a result I have made arrangements with my nominee broker to vote all my shares in favour. With $10.8m of liabilities (including possible additional taxes and royalties due to SA and Tanzanian authorities) plus the $5.1m purchase price and potentially up to an additional $1.2m payment from STAMICO if Tanzanite becomes sufficiently profitable again, the deal is worth $15.9-17.1m and we still have the Tanzanite Experience chain of stores. This is perhaps not an unreasonable price given that mine clearances still have to be completed and presumably there will also need to be significant capex (with RLD short of cash) to repair damaged mine shafts. There certainly have been a number of positive developments recently with continuing (albeit slow) mine clearances, govt finally talking about clamping down on smuggling and controlling sales, belated approval for use of XScan machines again etc. However without these actions by Govt, I doubt the company would have got a buyer prepared to pay such a price. Thus the deal to some extent does give some recognition to the future improved prospects for Tanzanite mining. RLD also no longer needs to find and spend more money rehabilitating recovered mine shafts in order to get production up and running. I recall an RNS indicating the damage to shafts caused by illegal miners was worse than expected. Where would RLD get the money from to undertake this work given current liabilities and lack of cash? Fact remains the company has had to deal with one problem after another in Tanzania (delay in renewing mining license and then only as 50% JV without cash payment up front and only for 10 years, banning of use of XScan machines for years despite independent assessors approving their use, the cut and polishing rule, lack of or very belated action to enforce the law against illegal miners, little done about the smuggling hammering tanzanite prices, problems with expat work permits etc.etc.) There can be no guarantee there would not be further problems on the horizon. Perhaps the lack of progress with graphite JV may have been due to authorities dragging their heels and maybe wanting to extract more from any JV deal with Kibaran; or Kibaran wanting to progress their Epanko deposit first? In Tanzania there seems to be a bit of resentment towards foreign investors and if Sky Associates have more Tanzanian's on board they may well have more success than RLD did. Until the 50% JV with STAMICO it appeared authorities were not prepared to enforce the law if this meant siding with a foreign owned company against local Tanzanian citizens and voters (the artisanal miners). Even then action by authorities was tardy and clearances are taking a long time.This deal if it gets all the necessary approvals, it will overnight turn the company from being financially distressed to once again having a healthy positive balance sheet with plenty of working capital. In addition the prospects for Sapphire mining seem reasonable given the increases in sapphire prices since the mine was last operational. If the company can develop a mine to market retail operation margins should increase. This would require setting up a cutting and polishing operation somewhere with skilled cutters and cheaper wages than in Australia and the company has experience of doing this before. If say average prices of A$4.5 to A$6/ct rough mined can be achieved on projected mining production; then back of the envelope projections suggest the company could well return to a reasonable level of profitability which no doubt would get reflected in rising share prices. Doing business in Tanzania has over the last few years been a nightmare and
FAST shedfull
12 Dec 2014
Re: P.G. He is now the sole owner of Maghreb is that correct
Latest from the Community...
Latest from the Community...
Latest from the Community...
