management team and a great deposit, there is always a lot that can go wrong in mining in general and exploration in particular. The other important lesson is the long process and daunting terminology, in this case the key phrase has been “bankable feasibility study”, essentially the document that says the mine is viable and which would lead to serious cash injection (hopefully). In this case African Eagle hasn’t been able to get to the bankable feasibility study stage, leaving it stranded. claim against Blue Label Telecoms and a smaller but intriguing $6m claim against an unnamed former senior executive. All in all very messy but I stand by my comments from last week about how the new management team is seemingly starting on the right foot, as do the many risks around Telkom.
Telkom SA SOC