Ann: Fungoni Mining Licence Application Update, page-4

"... While this change in status does not constitute final approval of the Mining Licence for Fungoni, it is part of the approvals process..."

Whilst I'm not going to get too beat up about this announcement, I do have an urge for a weeee bit of a rant. A few points:
(a) Who would have thought "...it is part of the approvals process..."? No shite, Sherlock!

(b) When a sentence begins like "....While this change in status does not constitute final approval of the Mining Licence for Fungoni,..." you could be forgiven for concluding that approval is all but an exercise in rubber stamping. Either the "While" in this sentence is incorrectly included, or in fact approval is now but a procedural formality.

(c) However, both WKT and STA seem to be playing the it's just another step line. Trading today suggests the market thinks otherwise but both STA & WKT are presenting this change as just another one step ahead of 'x' steps to be made. Sadly, they don't elaborate on how many is 'x' !

Rant summary : IMO STA don't say much and when they do, it is a little cryptic or inappropriately vague.

Rant over. Resume position.

Have a great day