Mwana Africa Share Discussion Threads

[juju44] 20/7/2015 17:12

If it works out this way could Dearing be taken for fraud ?

[gfrae] 20/7/2015 15:30

If the shares are suspended on Friday,from then on they can not be used as collateral or for margin purposes.
I imagine that Mwana CFDs would have a value of zero.

Well done Dearing !

[asmodeus] 20/7/2015 15:27

Well, if there is still value to be had, I will just hang on rather than crystallise losses going right back to African Gold days. What a pity I didn't take the "first loss, being the best", when it occurred, as so often advised!

[juju44] 20/7/2015 14:13

They will get a nomad , no problem, unless they do not want to , in which case they are gangsters - and maybe they are

[apfindley] 20/7/2015 14:11

Asmodeus.Possibly some of them are too daft to realise and havent done their research. They see a seemingly cheap shareprice, but fail to realise the true gravity of the last few rns's , or the situation which has forced mwana into a corner.Its all there in black and white.If there is no nomad by 26th thrn the company will be suspended. If one is not appointed within the month then mwana will be delisted..

[cardiffian] 20/7/2015 13:19

Because there is value to be had if one is willing to
Hold shares in a private company in the event of a delisting

[asmodeus] 20/7/2015 12:30

If this is true - why are people still buying?

[apfindley] 20/7/2015 12:09

Suspension on Friday if no replacement nomad.Delisting one month after.You have this week only, to sell the remainder of your shares.Add also that Mpinga was what gave mwana such a favourable foothold with Mugabe/Zanu-pf. Now Mpinga had been ousted, the article a few posts above shows clearly that mwana are now out of favour. All this was predicted once Dearing got involved with an EGM for (and on behalf of) the Chinese.GAME OVER.

[taxibabe] 20/7/2015 08:42

Thank crunchie its not friday we can still get out. Abandon all hope ye who enter here.

[taxibabe] 20/7/2015 08:42

Suspension on Friday.

[juju44] 17/7/2015 14:31

Zim govt will tread carefully where Chinos are concerned - imo

[mr macgregor] 17/7/2015 14:28

The Zimbabwe government is broke. They can make as much noise as they want but exactly what are they going to do? There is no longer a Mugabe factor imo. The guy is a ghost.

[juju44] 17/7/2015 12:26

Surely they cant be stupid enough to ignore the Mugabe factor

[gfrae] 17/7/2015 12:15

Thanks,pca. I misread the announcement,so the shares will be suspended on 26 th July if no nomad appointed by then and admission to AIM cancelled a month after if still no nomad.

[redtrend] 17/7/2015 11:53

Juju - my thoughts were if the smelter is up and running we can terminate the offtake agreement with Glencore, reduce costs and mine nickel at a small profit even at these depressed prices. If there is no smelter, there is no chance of breaking even at these spot prices. Plus what therefore happens to the money raised from the bond which was for the sole purpose of smelter restart?

Politically too it looks like an own goal if the smelter is not completed and an excuse for Government intervention. Maybe it's time for the new board to try and make amends with Mpinga?

[pca] 17/7/2015 11:21

From the news 26/06/2015

The Company is in discussions with replacement advisers and brokers with a view to the new Nomad being appointed within the notice period set out below. Peel Hunt has indicated that they will fully cooperate with the new Nomad to ensure a smooth transition.

In consequence the Company is obliged to give formal notification that, pursuant to AIM Rule 1, if a replacement Nomad is not appointed by the date that Peel Hunt ceases to act as Nomad, the Company's shares will be suspended from trading on AIM, and if a replacement Nomad is not appointed within one month of the date that Peel Hunt ceases to act as Nomad, admission of the Company's shares to trading on AIM will be cancelled.

[juju44] 17/7/2015 11:11

The hold on the smelter sound s like good management to me. Nickel price has collapsed over the past year ( world awash with stock ) and Chinese economy has turned down . Right thing that management should revisit the smelter project viability

[gfrae] 17/7/2015 10:27

Taxi,my reading is that they have a month from the resignation of the nomad takes effect before they are de-listed ie a month plus a few days.
Red a very worrying article.
Can we find another ambulance chaser to sue Dearing and his 5.1% very badly advised associates for causing losses to other shareholders of so far about £10 million and much,much more if we are de-listed ?
There is only one winner and Dearing knows very well who that is.

[redtrend] 17/7/2015 09:58

Some other news separate to the Nomad which isn't great:



Two items raised in this article that worry me if true:

i) The new board have not yet met representatives of the Zimbabwe Government to reassure them. I would have thought that was at the top of their priorities

ii) The article mentions the nickel smelter refurb has been put on hold. I really hope that isn't true and can't understand why the new board would do that.

[taxibabe] 17/7/2015 09:51

Not a lot I am afraid this will be suspended in about 6 days unless they find a NOMAD. After that they have one month and then that is it

[postiga08] 15/7/2015 16:53

What does that indicate?

[casabella2] 15/7/2015 09:22

1m bought at over the odds price.

[gwr7] 13/7/2015 08:49

If the shares were to reappear on the Zimbabwe exchange at least they would be better regulated!