r3s0urc3, I'm the first to say that I may be jumping at shadows and may also be misinterpreting things. Part of STAMICO's mandate is to exploit the mineral wealth that lays in Tanzanian dirt and fortunately for us the TZ Government is now one of the more stable ones in Africa although they are still very capable of moving goal posts at their whim and they clearly want to get on with it. When you see a post from their Ministry of Minerals stating that "Undeveloped large and meaningful licences will be handed over to STAMICO for national benefit" it begs the question where do we sit? Walkabout is developed and producing (yes we know about receivership but it is still developed and producing under Gemcorp). Blackrock's huge Mahenge project has just received a further boost of USD179m from a consortium of 3 African Banks after signing a 3 year USD38m contract to a Tanzania's largest civil and mining contractor which satisfied a precedent for the project lenders. Whilst technically not developed by definition, I'd say you can put your house on that deal. After many years, I believe we may have a shed on Bunyu at the moment. I think I'd consider that somewhat more of an undeveloped mine licence rather than developed, hence my concern when I saw that they are going to take back the undeveloped licences. Exceptions? Probably.
Shareholders' hope and confidence is through the floor these days as evidenced by our M/C. Through sheer blind faith, I still believe we'll get over the line with one or more of these projects one way or the other although in what condition we as shareholders will exist at that point is anyone's guess. The fact that AK and DV are still digging deep within their own pockets and that DV is now a Director since August are the only things giving me this blind faith. PC does not come into the equation. Dom addressed Indigo directly saying that his patience will be rewarded one day. At the moment that's good enough for me. Best of luck to all of us.
VRC Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)