Harvest Minerals Share Discussion Threads

[ieh fan] 11/12/2016 22:43

If the RNS had been long-planned then I'd have expected it: a) on the hour and b) not over UK lunchtime.
Feels like the NOMAD has asked them to put out something to justify the rise.

Only my opinion and doesn't really matter either way.

Nice to see you back, YP. Did you sell and then buy back in or just not been around for a while?

IEH.

[goodbloke1] 11/12/2016 17:47

I agree that it too was my impression

[ieh fan] 11/12/2016 16:47

Yes, that's exactly what I thought at the time. Surely they'd rather have waited until it was done and dusted.
12.09pm is an odd RNS time otherwise.

[onlyroadtoheaven] 10/12/2016 17:13

Anyone think they wanted to just put out a permit confirmation RNS expecting it in the coming days but were forced to put something out when the price rose by 20%?

[kreature] 10/12/2016 17:12

The RNS (capitalised by me though)
'...the Company is pleased to report that IT BELIEVES it has now satisfied all the conditions precedent to the award of the trial mining permit '

------

To believe something (the bit that you omitted) is not the same as to know something. 'To believe' would precede an opinion. However 'to know' would precede a fact. It's a pity that you have to be so rude. ATB

[pilot48] 10/12/2016 16:53

Yes they did - "satisfied all the conditions precedent to the award of the trial mining permit". Is English not your first language or do you have problems with comprehension? Maybe your carer can get out some sock puppets and walk you through what the RNS means.

[kreature] 10/12/2016 16:38

"In this case, HMI have met the conditions"


You make a statement of fact....but not even the company did that in the 9th Dec RNS

[pilot48] 10/12/2016 16:16

Think of it in terms of commercial lending, before the lender is obliged to disburse the funds, the borrower must fulfil the conditions precedent (e.g. providing corporate authorisations etc). Once CPs are fulfilled, the borrower issues a drawdown request (usually at least two days in advance of the utilisation date because of rate fixing etc). In this case, HMI have met the conditions and now the DPNM may just need to complete some formalities at their end (red tape at a government department!!!) before the actual permit is issued.

[kreature] 10/12/2016 16:15

To believe (RNS below), is not the same as to know. Therefore there is uncertainty imv. Expectations were raised for the permit to arrive in October. That didn't happen. The DNPM didn't even 'physically inspect the site' in October. Expectations were raised for mining to begin this year. That doesn't look very likely either does it? The only thing likely to happen this year (possibly this coming week) is a heavily discounted placing, in my opinion. Hence I remain Short. GL

the RNS:
'Further to the Company's notification of 7 November 2016, the Company is pleased to report that it believes it has now satisfied all the conditions precedent to the award of the trial mining permit.....'

[soulsauce] 10/12/2016 16:03

Yes you are right Andy, the best we can take forward at the moment is that we are in a better place than we were at the start of the week with 'some' uncertainty removed and another RNS with no bad news that the company would be legally obliged to mention. Steady as she goes and still looking forward very much to the drill results in the new year and find what the kimberlite holds.

GL all.

[andy] 10/12/2016 15:47

soulsauce10 Dec '16 - 09:26 - 1458 of 1464

I agree with you, and I did read the November RNS, but if so, why not come out and say so, and remove all possible doubt?

The lack of such a simple statement creates possible doubt that need not exist.

[kreature] 10/12/2016 12:38

If you send off for a work-permit or a parking-permit, I think that you generally hope to get the actual permit, rather than some 'advice'. Anyhow, first they were waiting for the dnpm to 'physically inspect the site'....'as a closing stage in the approval process'. Then turns out 'necessary documentation' had to be submitted, in hope of getting some 'advice'. ATB

[charles clore] 10/12/2016 12:24

ypy - would not be difficult with a new business operating in a new environment with few peers from whom to take guidance. I can imagine the paperwork may well have had a couple of errors that needed correcting and that may have been the reason for a slightly less than fully confident RNS yesterday using the words 'we believe' instead of 'we have'. But from what I can see the company seems to have done everything to meet the requirement for the permit and that could also mean they have already had 'the visit'. Because agriculture is so high profile in Brazil I don't think the department will be sitting on their bottoms very long with this.

[charles clore] 10/12/2016 10:11

buffy - a very sensible policy when conducting business in a foreign land.

[buffythebuffoon] 10/12/2016 09:29

The company states that it believes it has fulfilled all the conditions required. Now some would say that the 'it believes' is a bit wishywashy. However, previous experience from dealing with authorities in various parts of the world suggests to me that this more humble form of announcement, rather than the more dogmatic 'We have fulfilled' is the way to go when you depend on others, who with the stroke of a pen can reject your application.

Buffy

[soulsauce] 10/12/2016 09:26

When read in conjunction with the 7th Nov RNS where it says DNPM are required to visit the site in order to obtain the permit then it seems that is exactly the case to have satisfied all the requirements.

[andy] 10/12/2016 09:14

ieh,

To be fair, it doesn't specifically mention that the site visit has actually occurred, which it should do, if it has.

As usual an AIM listed company issues an RNS that is not clear, and you have to be very careful when making assumptions!

RNS writing is akin to a dark art, I know for a fact they are written very carefully by some very clever people, in a way that gives an impression of something without actually saying it, and that leaves it open to interpretation, as they know bulls will see it positively.

[kreature] 10/12/2016 02:17

Well hopefully advice from the DNPM will arrive soon. Looks like a nice scenic spot for some houses if they don't get the mining permit. ATB

[ieh fan] 09/12/2016 23:50

What the RNS actually says is that HMI believe they have satisfied all conditions for the award of the mining permit.
One of the conditions they specifically mentioned previously was the site visit.
Therefore, anyone with an IQ over 50 and no attempt to mislead others (both ruling kreature out) can infer that the site visit was completed.

[kreature] 09/12/2016 19:59

Not sure that the Update fully updates shorters on the site visit does it? i.e. has the site visit been done yet? The RNS says the company has 'submitted the necessary documentation', and are waiting for 'advice from the DNPM'. I suppose the normal thing to say after a site visit is that the site visit has been carried out. Doesn't appear to say that in my opinion. ATB, have a good weekend.

[soulsauce] 09/12/2016 16:39

fission classic post 1450 ;-)