Appian's LinkedIn excuses on the sale of their 19.9% holding in...

Appian's LinkedIn excuses on the sale of their 19.9% holding in PEK to Shenge, is exactly what I would expect. Quite frankly, it was an appalling decision, and the words I would like to describe it would certainly be censored by HC moderators. Anyway, Appian saw a quick way to flog their PEK holding at a profit, without any consequence for existing shareholders. With Shenge chasing the rest of the company, what hope is there for any future major developments of RE resources in the West, where they are desperately needed.

We can see where this is going, and as commentators are saying, promises will be made to the GoT about refining in Tanzania, the SML will only be granted, once Shenge have acquired PEK, and the rest of us retail shareholders, instead of looking at a healthy profit on our investment, will be forced to sell at a loss. All we can hope for is the FIRB to step in and stop this. So where does this leave us with the Teeside refinery, I don't know, but probably abandoned, while Pensana mining on the other side of Africa, is powering ahead with plans for their Saltends Chemical Park refinery, whose detailed planning application is soon to go go before the local planning committee. I will stay with PEK, to see what happens, but I don't expect to be pleasantly surprised by the outcome.