Big question over parts of Namibia being commercial.
Not strange at all.
We ran out of cash due to side tracking and when the company went to the market to get funding to test retail didn't take up their share and the RI failed.
You can absolutely blame the dumpers insto's for that failure.
After that happened SM realised, absolutely correctly, that this was likely to be repeated over and over again by insto's rinse and repeat so decided to go a different track.
You know as well as I do how long it takes to
a. Get farm in's through data room
b. Wait for them to do their own or independent analysis of IVZ data
c. Decide whether they will offer
d. Decide what to offer
e. Make an offer.
12 months at least.
I for one, although am absolutely fed up to the back teeth with waiting for PPSA, but, it would be absolutely idiotic to,
a. Drain finances again on flow test on Mukuyu especially given Musuma will be drilled and hopefully tested. End up back looking for cash again.
b. To test without PPSA and have definite proof of a commercial discovery which will trigger, most likely, responsibilities to exploit the resource which IVZ are in absolutely no position to do atm.
The plan forward has been laid out by management.
PPSA signed
Drill Musuma
Flow test.
IF you don't like it or think its BS then the market opens tomorrow.
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