So, apart from the obvious elephant in the room (ie - the Tanzanian Govt thing), the thing for me is there is no finance, offtakes or marketing plan in place and no apparent confidence shown by management that current negotiations will be successful in this area.
This is a bit of a surprise to me, given all the previous announcements (leading up to the Scheme) that debt and offtakes etc seemed "imminent". Of course, when Tremont finally declared their takeover intentions, it signalled to me they had (conditional) agreements with both the debt providers and the product customers. Who would launch a takeover without securing those?
At any rate, I can't see anything progressing until they have got the elephant in the room safely corralled.
CXX Price at posting:
12.5¢ Sentiment: None Disclosure: Held
