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This shows just how undervalued the Centamin share price is!
Hi Siko.
Thank you for this update, I note the Enterprise story link uses exactly the same picture of outdated mining trucks that Lord El Nagy has used on the Veritas company website in the past!
Thanks again Siko, and here is the magic word "The approval is pending completion by the authorities", I am sure the authority they done their snake normal way of talking making it OK to investors but in their mind something else and no decision can be taken.
It sound like Egyptian authorities are ignorant and need to go back to schools to learn how to deal with business people although what the advance economy was achieved in Egypt but nothing by the ministries or authorities but all was achieved by the Egyptian army by forcing the technology in building the country as most ministries & authorities just watching and sleeping in their bedrooms having fun.
God help their president that he works with some lazy igno-----.
GLTA,
Dan
This link is in enterprise this morning..
https://enterprise.press/stories/2020/02/16/egypt-awards-aton-resources-gold-mining-rights-11948/
(The approval is pending completion by the authorities of several procedures, including a review of an economic feasibility study)
I agree with you Dansul, Aton should release an RNS on Monday to clarify this.
The problem is this piece of news is in almost all the major Egyptian media sites, some contacted the ministry of petroleum and some from the President of EMRA (Farouk).. and all said the same thing.
Either someone higher up in the ministry signed something no one else knows anything about (even the president of EMRA), or other possibility is Aton got it wrong (very hard to believe)..
So will wait and see..
Here are more links for you (please don't shoot the messenger)..
By the way, Aton Resources has a very active Twitter account. Maybe someone could ask them..
https://www.elwatannews.com/news/details/4577372
https://www.dostor.org/3001599
https://www.youm7.com/story/2020/2/13/%D9%85%D8%B5%D8%AF%D8%B1-%D8%A8%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D9%8A%D9%86%D9%81%D9%89-%D8%B1%D9%88%D9%8A%D8%AA%D8%B1%D8%B2-%D8%A8%D8%B4%D8%A3%D9%86-%D8%AD%D8%B5%D9%88%D9%84-%D8%B4%D8%B1%D9%83%D8%A9-%D9%83%D9%86%D8%AF%D9%8A%D8%A9-%D8%B9%D9%84%D9%89-%D8%B1%D8%AE%D8%B5%D8%A9/4630338
"Farouk" emphasized that there are a large number of foreign mining companies that applied for licenses to work in Egypt, but the authority asked to enter the next bid because it is a great opportunity for companies to work in Egypt as they are promising areas for mining wealth.
The what called authority "Farouk" is lier, because there is no final approval of the new law, still waiting to be signed. All what comes from those news are fake news and Atone will never release a fake news.
Also. too many wrong news coming from Egyptian media.
We need to have the news from Aton and not from fake media.
GLTA,
Dan
I think that is jumping the gun.
I agree with Siko, someone is going to soil their pants.
Thanks Siko, but that what you expect from the Egyptian government. Nothing new. That will keep all investors away from Egypt.
GLTA,
Dan
I was planning to stay away until I come back from Egypt, but this is serious and someone is in big trouble..
As you all read here, Aton Resources announced on Thursday that its application for an exploitation licence has been approved.. Aton's SP has doubled in one day..
https://www.atonresources.com/news/2020/aton-announces-the-approval-of-a-mining-license-at-its-abu-marawat-concession-area/
Now Egypt ministry of petroleum and EMRA DENIED that and said Aton only applied for a licence, which has not been discussed or approved yet as they asked the company for more details about the technical studies showing the estimated resources and the area of the mine, which the companies has not submitted yet, also the licence still needs to be approved by various authorities.
https://theworldnews.net/eg-news/ry-ys-lthrw-lm-dny-shrkt-lmy-stdkhl-mzyd-ldhhb
https://alborsaanews.com/2020/02/15/1296623
https://www.falsoo.com/News/4/97046/%D9%87%D9%84-%D8%A3%D8%B5%D8%AF%D8%B1%D8%AA-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%B1%D8%AE%D8%B5%D8%A9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%84%D8%AA%D9%86%D9%82%D9%8A%D8%A8-%D8%B9%D9%86-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D8%A8%D8%A7%D9%84%D8%B5%D8%AD%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D8%B4%D8%B1%D9%82%D9%8A%D8%A9