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The worm is about to turn for the good
I think we may stay in this 0.26-0.30 range till news. I believe there is good expectation here of what is to come, so I think a channel may form between this range while we wait for news. It is very encouraging that we are seeing some positive activity on twitter, which is highlighting the potential value of BPM. I know we are waiting for equipment from China, but it really does depend upon which region of China the equipment is coming from, as to whether there would be a delay due to the recent virus epidemic. China are planning on unblocking a majority of cities by mid March if things continue to improve. I don’t think we will be waiting much longer for an update on BPM either way IMO, GLA :)
I am not sure there is any coronavirus related delay from China, if it were so the company would have to update the market and say so, as many other companies in that position have done so, unless our Nomad is asleep.
You are probably right isas, if they haven’t updated us to that affect, then the likelihood is that all is good. They were expecting to receive a majority of the equipment by end of January anyways.
Hippy, my understanding was a number of shipments starting from the end of jan going on into mid march unless I remember incorrectly it has been a while since his podcast. The factthey have brought in extra drills from elsewhere to speed up the JORC process tells me that if there were drills ordered as part of the shipments from China they either haven't arrived when they were expecting or there are that many "sweet spots"they wanted to drill them all in a reasonable timeframe
Think your right Ben, i recall hearing something pretty similar to that on one of the podcasts too. Something like them expecting to receive early & late January, but more to follow in March. Just tried hunting the podcast down myself, but the only one I could find stated by Chinese New Year, but still I’m sure your correct on more to follow too. The podcast focused more on why they were drilling the JORC:
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The link was on www.**********.co.uk
Was on vox market
I believe there was almost 40 containers of equipment in total.
Interesting read, CCDT believes they still need to sort the finer details out after all this time however MDT seem to have come to some sort of agreement with ZCDC which is something at least. Not sure if the relocation aspect of things relates to us as I'm not sure what "residential land" is on the fields we have a claim on. Either way it sounds like there may be news next Tuesday?
CCDT chairman Newman Chiadzwa was appointed as the CBOs chief negotiator in the ongoing engagements with ZCDC to create a joint venture company that will be see community have a stake.
“I can confirm that we have been engaging with ZCDC but we have not really agreed on the actual terms of the joint venture and how it will work. We have met with the Vast Resources investors but we are still to discuss the flesh of how the joint venture will work and how much community will get of benefit. We have a meeting next week in Harare so maybe I will come back with more information on progress made so far,” said Chiadzwa in a telephone interview on Tuesday.
MDT chairman Malvern Mudiwa said although they have resolved their stalemate with ZCDC they will not let their guard down.
“We will remain vocal to ensure immediate communities benefit from their natural resources particularly when it comes to issues of employment of locals in the diamond mining companies, compensation of relocated villagers as well as environmental concerns. We understand there might be new relocations soon and we will continue to engage ZCDC for fair disturbance allowances and relocation fees for our people. We also want decent housing for villagers relocated,” said Mudiwa in an interview on Tuesday.
Must say that I did not like the contents of this interview with Newman Chiadzwa. It looks like the locals are digging in for as much as they can get and agreement between all of the parties is far from “ imminent.” Ideally they would like the lot and will want to give as little as possible to Vast. This could be a volatile and lengthy procedure and gives the lie to Andrew Prelea’s comments that the signature on the deal was delayed because of purely logistic matters. Investors urgently need an honest appraisal of the up to date position.
To be fair the Zimbabwean minister for mines, who you think would be in the know, did say the week prior to the supposed signing, that it was going ahead. CEO had been in country for two months and all in order from VASTs point of view so why would he not expect the signing. VAST have done their bit. This is between ZCDC and community, so we continue to wait. It’s not like loads of other companies are being signed off and we are been left out in the cold. It’ll be worth the wait.
People have got nothing better to do, other then decamp this S/P , so they can buy at lower price , they'don't think of people who may have paid a higher price , selfish traders here