I disagree; the PPSA isn't just a formality. It's a major regulatory hurdle that could fundamentally affect the project's estimated value. I recall reading several articles earlier this year suggesting that the Zimbabwean government could end up with 60% of the output or revenue once production begins. If this percentage increases, it could significantly impact earnings and overall profitability. There's no doubt that signing the PPSA will substantially de-risk Invictus and we could see a significant re-rating as risk-averse investors jump back in. However, my point is that it is far more than just a formality.
I suspect the 35 pension funds behind Mangwana Capital will need to see the PPSA completed before we see any investment from private equity.
I was still buying last week, but I think I've hit my threshold until I see some meaningful progress from the company to take this project going forward, been a minute since we've had any news.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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1 | 160000 | 0.062 |
4 | 741332 | 0.060 |
3 | 900000 | 0.059 |
4 | 399842 | 0.058 |
2 | 25500 | 0.057 |
Price($) | Vol. | No. |
---|---|---|
0.063 | 147648 | 2 |
0.064 | 839531 | 4 |
0.065 | 693000 | 5 |
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0.067 | 956665 | 4 |
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