North River Share Discussion Threads

[crunch123] 21/10/2019 20:49

Would be really grateful if someone who goes to the AGM could give an update on the vibes etc.

Have to say am v unimpressed by the lack of updates - they haven’t even bothered to put the annual report on the NRRP website.

[ssorj] 30/9/2019 18:15

I won't be able to get to the AGM. Hope someone can and then update us all here. Will there be a happy end to this saga?
Hubenstein - how did you get the reports etc.?

[carter1110] 20/9/2019 17:03

Crunch Can you send the link through as Iam struggling to access it thx

[docasmarks55] 20/9/2019 15:56

Good afternoon to any remaining private shareholders; i have around 20,000 shares in this but have no idea if they will ever be worth anything again-i know they can be sold on Asset Match and they are now mining and selling ore but does anyone have a view on their potential future value?

[crunch123] 20/9/2019 15:41

Have a look at the AGM thread

[carter1110] 20/9/2019 15:06

Does anyone have any recent updates as I've received an e mail re voting in connection to an AGM next month ??

[rosievdb] 19/9/2019 14:07

25 October, 11am, 60 Gracechurch Street London

[crunch123] 19/9/2019 13:04

The accounts did say the net present value of the mine is US$29 million and that there are borrowings totalling £12m from Greenstone & Castlelake.
Not sure whether the $29m is after deducting the £12m - anyone know?
Maybe a Q for the AGM (when & where is it?) as it makes a big difference.
It would also be nice to know what there plans are - I would presume early exit i.e. seek to sell.

Also NEEEF is still a material risk

[hubenstein] 19/9/2019 12:15

I received all the reports today and notification of AGM. Not being an accountant i found it difficult to follow. Anyone with a better mind for these things have any observations? It looks like we are finally selling concentrate but i have no sense for what this means. That pesky license to mine was simply too late.

[oliversydney] 17/9/2019 10:07

Accounts have now been filed at companies house
In the report it states that now in production but had been behind schedule resulting in some cash restraints but hopefully now full steam ahead
Presumably the AGM date will soon be set

[crunch123] 21/8/2019 21:06

Oliversydney, in the prolonged absence of any updates from NRRP/Namib & regulatory filings, are you able to give us any further insight on what’s happening?

I’d imagined - maybe wrongly - that once production was up & running (is it?) that the majority investors would be seeking an ‘exit’

[ih_679027] 23/7/2019 13:16

I understand the audit is being completed with the delay due to a change in CFO and also the first export sale is taking place this month so I have no concerns about the late filing of accounts and slight delay in production
As a shareholder of many years I remain very positive about the future and look forward to the AGM after the accounts have been finalised

[rosievdb] 22/7/2019 17:40

namibleadzinc.com have given the best info in recent times IMO by looking at their recruitment and tenders sections. All seems to be going ahead but it would be nice to have some update and only fair I would have thought

[crunch123] 22/7/2019 06:22

According to the Companies House website the accounts of NRRP are overdue and should have been filed by 30 June.

It did file it’s confirmation statement last week.

Certainly doesn’t seem overly bothered about keeping its shareholders up to date - no updates for over 5 months despite (possibly) having moved into the production stage.

[crunch123] 17/6/2019 22:33

Public accounts have to be done in 6 months, private in 9 months.
Last year the agm was in June.

Investor page for of NR states ‘regular news updates will be provided in a timely manner when material updates are available.’

[rosievdb] 17/6/2019 21:54

Isn’t there supposed to be an AGM soon?

[crunch123] 17/6/2019 21:26

Given that, from previous timelines, we’re supposed to be producing now, how about an update NRRP?
Nothing on the North River website for over 14 months & no updates on the Namib website for over 4 months.

[rsmith57] 29/5/2019 15:27

Thanks...would be great to see nrrp resurrected at last.

[crunch123] 28/5/2019 21:26

A couple of typos courtesy of predictive text - Namib not naming & too not to

[crunch123] 28/5/2019 21:25

As NRRP don’t seem to bothered about keeping us informed of what’s happening, I had a quick look around and found the text of a speech on 7 May delivered by the president of the Namibian chamber of mines, which included:

“The re-opening of the naming lead and zinc mine, at an investment of US$21.4m, made significant progress in 2018, with first production expected in the second quarter of 2019. Upon completion the mine will create 150 new jobs in the mining industry.”

The 2017 nrrp annual report - the latest available on its website - suggested that first production would be in Q1 2019.

Also in the chamber’s speech was a piece about a proposed change to income tax, which he said would lead to “non-deductibility of royalties in assessing income tax for non-diamond mining companies”
Probably not good news - anyone understand the consequences?

2017 NRRP annual report seems to have been released in early May 2018, so maybe we can expect 2018’s report soon?

[rosievdb] 26/5/2019 09:27

Any news of this years AGM? June?

[rsmith57] 05/5/2019 08:49

hxxp://namibtimes.net/three-erongo-mines-to-resume-operations/

still don't see a date.

[ssorj] 22/3/2019 10:07

Oliver - thanks for the positive up-date. Do you know if we have started production yet? Can't find any news on this.

[ssorj] 22/3/2019 10:02

Glad I popped in to see if there was something happening. Pleasantly surprised ... but as an investment, a long way to go.