From 30 Nov Chairmans address can anybody confirm the following?
(1) Received USD 16.875 in the bank. (2) Outstanding USD $13.125 as at 30/11/21.
Has the outstanding tranche been received yet? I am asking because maybe I missed something. I never expected we would receive the second tranch but hey miracles happen.
Well done to JL to get any monies out of Myanmar and be at the point of moving into the nickel space on his own home turf of Tasmania.
TBH we are lucky we got one cent from Myanmar - put yourself retrospectively into the same chaotic situation.
A big lesson here for investors. Sovereign risk is not a theoretical concept. It is not always the obvious sovereign where you invest your money that is the big danger. The danger may be lurking in the background with a more dangerous recalcitrant. I have experienced this situation in the past in African locations when there were army coups. Your cash can evaporate overnight.
I suppose the message is to be very very careful how much capital you commit to these jurisdictions. Always ask is potential risk commensurate with reward. Tasmania is terra firma - the potential can now be lost by sloppy management and a crash in nickel prices. I expect neither to happen. Bye bye sovereign risk for MYL.
This was an escape which really should never have happened. Well done JL - onwards and upwards.
Back to my original question - Has the outstanding tranche been received yet?
MYL Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
