Guys you do realise right that an MOU does not necessarily mean the deal has to be done on or before that specific date itself. Agreements take time especially if there are translations involved, multiple parties and lawyers. If it were a simple agreement done by one party and accepted by the other it would be fast.
I am quite certain though from all previous deals done that this deal too would be something big. Just look at our deal with Thaisarco, we don't even have a resource yet, but somehow the management managed to get us an offtake with prepayment, have you seen any other junior explorer managed to pull this off?
Secondly there was no date commited by management, the MOU clearly stated "It is anticipated", now although the 30th of June has passed but it was not a fixed date to have the agreement completed by. I would rather they take their time to have a proper agreement and have one that is good for the company, not one just to be completed in time to appease shareholders.
By the way, it is good that the board, Adrian and Navin are the top two major holders with Yahua. This is very clear that they are in it to grow the company and not have a lifestyle company and churn out announcements just to appease the market, get the price up and raise to pay themselves.
Do keep in mind as well both Adrian and Navin have experience in the industry and have taken their companies to high valuations - Adrian being involved in a AIM listed company before and involved in multiple ASX companies as well. Navin too with mining and as CEO of a UK multinational conglomerate industrials company before including investments. Both have large networks too, hence I would assume how we got the Tin offtake and now we wait on the Yahua deal.
Finally just because there is no announcement does not mean they are doing nothing, if you are an investor in mining companies you should know that there are quiet periods, especially when drills are running for a resource to be defined.
