The management are certainly leaving their run quite late to get this finance finalised and released to the market. Not being Delphic in any way however bitter experience leads me to believe that another delay is probably more likely than not. I suspect there’s probably just a lot of horse trading going on with regards to finalising the terms of the finance (having said all that one would have thought this would all be sorted out). This is shaping up to be a similar situation to the granting of the exploitation licence. Built up expectation leading to disappointment and then out of the blue an announcement of some sort of substance. Not freaking out about the delays although I’m watching things fairly closely.
All that seems to be happening is that buyers are holding back in light of the uncertainty of what’s going on (and to be honest I’d probably be doing the same if I was not a long term holder). Buy side is starting to thin right out however the reality is that any significant selling should get soaked up by Nth Sound if their behaviour of late is any indication. Again … not freaking out but certainly watching this all very closely.
A few other interesting things that I have been tossing around in my mind is that the company has been very tardy on a number of things. Mumbwa is a case in point. Whilst this is a lame (if not dead) duck, the drilling program was due to be completed at the end of February. I would have expected some sort of announcement to confirm this has happened. So it’s not just Perkoa which they have been tardy in releasing information … what this means is anyone’s guess …
AIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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