Asa Resource Share Discussion Threads

[jailbird] 13/1/2017 11:32

Yeah we know you are trader bb
It is called high risk gambling

[jailbird] 13/1/2017 10:00

In the short term for now , Only a fool will keep buying on dips.

[mreasygoing] 12/1/2017 20:21

Nice bounce for nickel. Positive day for ASA tomorrow ?

[mreasygoing] 12/1/2017 16:36

Gold back over $1200

[mr macgregor] 12/1/2017 16:19

Ah, your usual well argued reply to my post mrwatchyourprofitsgoing.

[mreasygoing] 12/1/2017 15:11

Indonesia relaxing exports didn't help either.

[mreasygoing] 12/1/2017 14:50

As the share price seems to track the nickel price closely today's drop may have something to do with nickel retracing overnight too ;)

[jacks13] 12/1/2017 14:03

This is a rhetorical question, I'm not expecting anyone to answer, but I wonder what the indigenisation law has to say about disposal of said shares by the indigenous owner(s)? Are they required to only sell to a fellow Zimbabwean thus keeping the quota up to scratch or is the problem dumped back with the company. I suspect, knowing our marxist Mr Mugabe, it is the latter.

[jacks13] 12/1/2017 13:48

It seems to be a dispute about who eventually gets to buy the ‘indigenisation’ stake in Freda Rebecca. From Zindico’s letter it seems that the issue has come to light because ASA has informed the relevant authority that they are in negotiations with a third party to sell to them instead of Zindico.

Whatever the merits or authenticity of Zindico’s claim it looks like ASA are about to part with a 26% interest to someone or other, regardless.

Isn’t this just a messy and perhaps expensive storm in a teacup?

[skidaddle] 12/1/2017 13:46

"If they had a verbal contract with Mpinga then it might be enforceable so the lack of a signature is irrelevant."

If it was his company. By that I mean if he actually owned it, that might be the case. But he didn't own the company, he just acted as though he did.

[mreasygoing] 12/1/2017 13:21

Why are you here then ? LMAO

[mr macgregor] 12/1/2017 13:06

A recap of what's happening:
Zimbabwe
Gold - indigenisation bunfight/$20m legal battle
Nickel - unable to start scheduled repayment of smelter bond. Smelter start up delayed yet again (was due by 31/3/17) and one assumes it would bust the company at current nickel price and feed rates. Trojan to be re-deepened in an effort to increase feed and grade prior to smelter restart, with negative impact on Trojan production during re-deepening works. Company says the smelter project is "on course"...cough.

DRC
Gold - Zani-Kodo mining licence discussions
Copper - Assay results from drill cores from five priority targets have been due since drilling was completed in November 2014. Company says "we are reliant on them (Hailiang) as to when they choose to confirm exploration findings"...cough

South Africa
Diamonds - $3.5m raised September 2015 with the objective of re-starting underground mining at Klipspringer...cough. They've got as far as extending tailings retreatment to cover care and maintenance but that's paid for by JV partner Greenhust.

The slaughterhouse is probably doing OK ; )

[mreasygoing] 12/1/2017 12:39

Either way, I've taken advantage of the weakness and bought a few more. Commodities in an uptrend. I'm looking at the bigger picture.

[the stigologist] 12/1/2017 12:30

If they had a verbal contract with Mpinga then it might be enforceable so the lack of a signature is irrelevant.

Either way it's a mess and will cause uncertainty for a while

[jacks13] 12/1/2017 12:22

“We are informed by the National Indiginisation and Economic Empowerment Board that you have written to them informing them that you are in discussions with another group. This comes as a surprise as you have not informed Zindico of the development. We and the company negotiated in good faith and reached an agreement, so there was a commitment and an obligation to complete,” read part of the letter which accompanied papers filed at the High Court under case number HC/H/12929-16.

[skidaddle] 12/1/2017 11:49

Anyone can print out a document claiming rights to anything if a signature is no longer required and witnessed imho.

[riskvsreward] 12/1/2017 09:40

I do see a "this can go up ten fold in very short time" muppet here.

[taxibabe] 12/1/2017 09:38

its not that simple mreasygoing my guess is that they were put up by someone in zim to make the claim. This sort of claim in zim is political and mugabe or his cohorts may be behind it.

[mreasygoing] 12/1/2017 09:33

UNSIGNED agreement. They're pulling a fast one. I'll happily buy those shares people want to sell.

[the stigologist] 12/1/2017 09:01

Our resident 'experts' have gone a bit quiet

[the stigologist] 12/1/2017 08:12

Muppetry on a tear.

[mr macgregor] 12/1/2017 07:57

Another fatuous mention of the copper price. When was the last time ASA published drilling results? They were promised over two years ago. The assets of this company are slowly drifting away from shareholders.

[mreasygoing] 11/1/2017 00:38

Copper surging too. Up 3%. Great data coming from China. Money moving back into commodities.