News blog
Watermark Global
- BY: Andrew Hore |
- POSTED: 21/04/2010 |
Watermark Global has had to clarify its financial position following yesterday’s announcement that it had enough cash to ensure it can keep going until the government’s decision on its South African acid mine drainage project is made.
Watermark now says that the funding it has obtained is temporary and if the decision is delayed by more than three weeks it will “need to re-assess the company’s financial position”.
The Environmental Impact Assessment (EIA) for the proposed acid mine drainage project in South Africa is progressing but funding decisions could delay the project. The South African government, while it realises that there is a need to cure the acid mine drainage problem, has not decided its preferred Public Private Partnership arrangements with the mining companies. It is difficult to assess when a decision will be made.
Watermark has done itself no favours by confusing investors with its overly vague initial statement. The share price has lost more than one-third of its value in the past week.
At 0.57p a share, down 0.3p, Watermark is valued at £3.95m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|