AlphaCentauri
26 Jun 2015
Re: All good fun! Mara - you lose your money!
Stag
26 Jun 2015
sore teeth Stop loss triggered at 1.5p today. Bullet well and truly bitten!
Mara Gorsuch
26 Jun 2015
Re: All good fun! Alpha C, how do you see it panning out if!! they de-list us on purpose.
AlphaCentauri
26 Jun 2015
All good fun! Looks like a potential delisting could be another fiendish cunning Cinese trick. Hey ho..!
Noocyt2
11 Jun 2015
CEO interview TipTV 4th june [link]
AlphaCentauri
11 Jun 2015
Re: View on developments? Last year's rampers all seem to have been very quiet, perhaps they have seen the light. Looks bad news for PIs as the Chinese are only interested in themselves.
Mara Gorsuch
10 Jun 2015
Re: View on developments? Doing business in Africa and especially Zimbabwe is more about who you know and not what you know, also I seem to remember that he was also the son of a government minister in the DRC. The old adage of "Don't bite the hand that feeds you" comes to mind and may come back to haunt this company.
charlieeee
10 Jun 2015
View on developments? Not (and never been) a holder, but on my watch list since the tip at the beginning of the year for this and Highland Gold (which has subsequently rocketed).At Minesite back in March, I did see Mpinga present (was there for EMED, but watched the other 4 as well) and thought this had potential, needing a bit of tweaking..So, the million dollar question is whether stopping the boardroom wrangling outweighs the loss of the Zimbabwean influence? The latter should not be undervalued in such a country: getting their bond classified as Tier 1 capital was quite an achievement.Second question. What do we think of the old brigade hovering in the wings? In production and with these assets makes the market cap look attractive: not being priced much above some of the juniors with all the grief of fundraising and getting into production still to come.Thoughts?GLA anywayC
Stag
10 Jun 2015
Re: Stay of proceedings Thanks AC. Still pondering, may just dip my toe in.
extinct
21 May 2015
Mwana future turns on Chinese vote: Mpinga David McKay | Thu, 21 May 2015 11
7 Print this page Send this article to a friend Share [miningmx.com] – MWANA Africa CEO, Kalaa Mpinga, acknowledged that his future at the company may turn on how Chinese shareholders controlling 29% of the firm vote at an extraordinary general meeting (EGM) scheduled for June 9. The EGM has been called by a group of shareholders holding 5.1% of the Zimbabwe gold and nickel firm calling themselves the Concerned Shareholder Group (CSG), led by Mark Wellesley-Wood, the former chairman of Mwana Africa. The CSG maintain there have been significant breaches of corporate governance at Mwana Africa and question why a dispute between the Mwana board and shareholders Yat Hoi Ning and China International Mining Group Corporation has been taken to court. Wellesley-Wood told Miningmx on May 21 that Mwana Africa represented unfinished business following his abrupt resignation from the board in February 2014 ostensibly related to a difference over strategy. Said Wellesley-Wood: "This is not about revenge. This is about focusing on the company’s operations and shareholder value.†Mpinga said in an interview on May 20 that he was unaware how the Chinese would vote on the matter. "The Chinese have decided that owing to legal action they will not take a view or disclose what their approach is going to be," he said. The dispute is about the composition of the board after Ling attempted to first take the chairmanship and then - even though Mwana's board eventually agreed to this step - he recommended all the executive board members be removed. Mpinga said his board and the Chinese were "close to reaching a settlement on litigation with the Chinese". However, the calling of the EGM had confused matters: "We actually were discussing a new structure," he said. Commenting on the resignation of Wellesley-Wood last year, Mpinga disclosed that the board rejected the former DRD CEO's personal demands. In documents handed by the Chinese shareholders to Mpinga, the Mwana board realised that Wellesley-Wood was hoping for the company to pay relocation fees to Johannesburg as well as share options totalling £1m that could not be diluted. "There was a unanimous decision to vote him off," said Mpinga. Said Mpinga of the dispute with the CSG, the Chinese and Wellesley-Wood: "I find this puts me in a strange situation. The conversation always starts with: 'this is not about you, it’s about the board'. "But I’m like, gentlemen, can you decide how you want this to go and then we can focus on running the company. For me it’s unnecessary; it’s a big waste of money
AlphaCentauri
20 May 2015
Re: Stay of proceedings You yourself use the word risk and that just about sums it up. With shares like this it is a market risk as well as a business risk as it is hard to match the share price with fundamentals. IMHO it is worth a modest punt with a hope of making a small profit. You might however make a loss! The rose tinted specs brigade have all been very quiet for most of this year so maybe the current price is realistic. Useful comments on ADVFN too. DYOR.
Stag
08 May 2015
Stay of proceedings Any thoughts please for a small time private investor following yesterday's announcement? I have been following the fortunes of MWA for a while but not been brave enough to risk any of my hard earned yet. Thanks.
dotlink
01 Mar 2015
i thought the average life of a zimbabweean is around 40 yrs but magubee seems to live forever, if he dies the sp will be 10p or not if his wife takes over www.dailymail.co.uk/news/article-2973802/Robert-Mugabe-celebrates-91st-birthday-hate-filled-speech-threatens-land-white-farmers.html i still need to sell 1 million shares at 2.4p
parkhurst962
27 Feb 2015
Re: terrible quarter Does the front end know what the back end does etc.? Were led to believe 3rd Q to build on strength of 2nd Q...!There seems to be a disconnect between the board and operations management. The question is whether operational management is sharp and tight enough to prevent things getting out of control that way. Do we have the operational engineering capacity resp. do we use it well enough to run this co. optimally and bring our C1-C3 at best possible level both at FRM as well as BNC?Shareholders have the right to ask these questions, bearing in mind that as little as 18 months ago the Company stood with its back against the wall and wasn't able to prevent KPMG making the impairment charge just before management had to issue new shares. The Company collected £ 180m from shareholders against a market cap of < £ 25 m today !! Of course management hardly ever bought shares over the last 4 years or so. Shareholders have been taken for granted for too long by this Company. And now it looks as if the FD of BNC wasn't even able to get its bond fully subscribed notwithstanding the small size of the issue and the almost over-generous coupon. The Company itself still well placed to do a lot better but needs a better management
dotlink
18 Feb 2015
lots of selling today and the sp went up and this probably means the next sp drop will be even lower, i will buy more in lower prices
