Ann: Key Construction Approvals and Appointments, page-39

Media is always looking for maximum clicks and it doesn't mind sensationalised headlines or not checking facts properly to get those clicks.

A few here thought MNB's capitulation low last week may have been helped by reports of Namibia nationalising its resources. MNB is not in Namibia of course but some thought it increased risk in other countries too, especially after similar news regarding Chile in South America. Maybe a few did use that as an excuse to sell Mnb because they couldn't stand watching the sp correct so heavily.
However, on Friday, shares in ASX stocks with exposure to Namibia rebounded when Namibia responded to those media reports. I think MNB's rebound was much more about getting an update that the start of construction is now imminent and offtakes are expected soon. That update clears up a lot of concerns about why we hadn't heard anything yet about the start of construction. Those concerns and delay on getting an update on construction most likely extended the correction well beyond what would have been the case if that final environmental permit was received a month ago. Following Friday's update and in anticipation of that expected offtake news, we could rebound very quickly from such an oversold price and be back above that 15c option exercise price pretty quickly. Start of construction is imminent so we finally should start to see that more regular stream of news on progress towards production by year end.

"In its first public statement following the uproar over remarks attributed to Namibian Mines and Energy Minister, Tom Alweendo, the country’s Ministry of Mines and Energy said it was “disappointment” that these “wrong perceptions’ had been created.It said that the report(s) had alleged that the “Namibian Government was considering taking stakes in mining and petroleum companies”.However, it was against this background, that the Ministry decided it needed to “clarify the misconceptions” circulating in the media.The Ministry declared that the Government has no intention to seize any stake from existing mineral or petroleum licence holders and “remains committed to upholding the sanctity of contract.”
In the most recent Fraser Institute Global Survey of Mining Companies, Namibia improved on its overall Investment Attractiveness Index by seven points and ranked 38th amongst the 62 global jurisdictions surveyed."

https://*********.com.au/namibian-government-denies-reports-nationalisation-shares-rebound/