SI­MON SAYS

Finweek English Edition - - INVESTMENT -

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

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