I'm not saying there weren't delays etc, every single mining project experiences delays, it's just a fact! Find me one that doesn't and i'll throw all my money at it.
Investors were getting word of what was going on in Tanzania in 2016 with Acacia and that there was severe corruption going on. This will create unsettled ground under anyone's feet, hence the prices of many stocks in the country were on the decline. Of course this then makes it impossible to get the large investment we required to get a mine up and running, it's not rocket science!
To say they are 6 years behind schedule when the country literally banned exporting of unprocessed ores for almost 3-4 years while they overhauled their legal framework and went through government restructures etc is BS, as this was all out of Magnis' power and there was literally nothing they could do to change what was unfolding.
Some companies suffered because they had no other plans and/or forms of income, luckily for us and Magnis, they had foresight and put together a plan that has us where we are today as a company (forget the shareprice), that is now manufacturing batteries and literally at the right place at the right time for this battery boom to occur.
Maybe you should try start a mining company and see how your project timeline targets go? It will be interesting to watch to say the least
IMO DYOR
MNS Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
(20min delay)