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The details in this rns have been totally overlooked. There's clearly a ramp or agenda here, but for those who are will to read past the first few lines this news is bad for LTH like myself.
Geo have had much of their ground taken off them,
''Alongside this tenure confirmation, correspondence from NAM seeks to return the remainder of the Bolnisi Project licence area, including three further deposits identified by the Company, being Kvemo Bolnisi West, Tsitel Sopeli and Balichi, to the State. GCG strongly disagrees with this position, particularly as GCG has received previous ministerial endorsements, and written confirmation from NAM that GCG had met all of the licence requirements for all five named deposits in the licence area (Kvemo Bolnisi East, Kvemo Bolnisi West, Dambludi, Tsitel Sopeli and Balichi). ''
They have been granted new tenure over only 2 on the previous areas they held.
They still dont have the much needed exploration licences that we've all been waiting for 2 years,
''Mike Struthers, Chief Executive Officer, said "The conclusion of this process with the mining agency is an important milestone in our ongoing efforts to obtain the extension to the permit in Georgia. We have confirmed our entitlement to two of the key deposits in the area, and we will vigorously challenge NAM's position on the remainder of the area with the Minister to secure the balance of our rights.
"GCG worked closely with NAM for three months in Q2 2018 to prepare a quality application for this extension, which ultimately NAM and two successive ministers of economy endorsed (in June and September 2018 respectively) and then placed before cabinet for approval. The lack of a decision by cabinet resulted in the application being returned to NAM. The Company and GCG contend there are clear grounds for an appeal given the prior endorsements, the excessive 18-month delay, and NAM's failure to previously raise with GCG any significant concerns with the initial application, which could have been easily rectified.
And to top it all off we know from the results GEO have very little money.
How this has ended up by 160% is a miracle given this is essentially awful news for the company and its shareholders.
Say what you like, call me a deramper etc but if you cant see the facts in this rns then your'e simply not reading it properly