thanks go south
it sounds like your own experiences (and that of other Aussies) with Manajem are perhaps among the reasons why the DMMR issued them with a cancellation notice. The general word is that they have burnt just about every bridge in the industry, and their predicament is a consequence as such.
I am less concerned about Manajem and more concerned about the DMMR's response to a new license application, however i believe there are many ways to skin a cat, and the particulars that matter in such an environment are the right people at the right time being involved.
I would not go rushing out to invest in any other small cap miners that were trying to have a crack at a saudi project, just like i would not go rushing out to invest in 99% of small cap miners trying to have a crack in our own backyard. Not everyone is dressed for success, so to speak, and in most cases, success isn't even on the radar, as most are blatantly just an excuse for keeping executives employed.
Will this story be different? Who knows, but at the end of the day, this is a speculative investment, and that is the only real speculative factor in the equation, as the resource is defined, the economics are proven and improving, the funding is available, the contractors are ready, the product has a clear market, and the management team has ample experience in running operations.
If i wanted to buy the same story minus the ambiguity over the mining licenses, i am sure i would be paying upwards of 20c based on the old metrics alone.
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