Unfortunately you do not really understand the agreement, or...

Unfortunately you do not really understand the agreement, or read announcements well enough.

Yes the JV is in place, but the announcement also states that the legal team is working towards the Sofala companies being transferred into the UAE company when formed. Then and only then is 3 Million US transferred into that company, which funds all work on the project moving forward. The 2nd tranche of 3 Million US will only be transferred if required if the initial 3 million is not enough.

Traders bought into the company looking for a quick buck, hence the drop off with no news. An improvement in macro conditions around the world has very little to do with small mining and exploration companies. I think most people who follow the market and the small end of town will tell you that small caps have been smashed and that people are fairly risk adverse at the moment.

Finding a good small cap that isn't all talk and actually has enormous potential is only half the game. The other half is having the patience to stay the journey. You may be looking at 12 - 18 months to get really solid share price movement into the 1 to 2 cent range. The market is fickle, but I am confident in the long term holders will do very well.