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Bungs not hunts.
It's called jumping through hoops ! No hunts to ministers these days ! Just build us this, then build us that ! As a nearly ex Jubilee Metals shareholder , I recall one project where the the local tribal chief got a new bungalow ! That's a " bungalow bung ", got the job done though.
I'm expecting to see our now 15% " contribution " to the Togo slush fund , have some further "taxation" before any paperwork is signed.
Helping the community is good, don't get me wrong, but I expect we'll also be paying some form of Togo corporation tax on any profits made before it leaves the country, then there is the exchange rates, soon we will be the junior partner in our own company. There are only so many slices in a cake!!
Its almost like they don't want anyone else to know the success parameters and profitability of this project...
Keras RNS that relate to Togolese affairs have always to date been subjected to (at least a level of) Togolese government approval. I wouldn't expect the latest ones to be any different.
The only reason neither the DFS nor BFS have been published in the UK has been on Togolese government veto.
Togo First articles still online which undermine your theory on 'market sensitive' :-
08/11/2019 Production at the Nayega manganese mine should commence in Q1 2020
21/10/2019 Société Générale des Mines obtains operating permit for Nayega manganese deposit
From last RNS "CEO Russell Lamming and COO Graham Stacey are currently at Nayéga undertaking a site visit and meeting with community leaders and a delegation from the Ministry of Mines to ensure an open and inclusive process for the development of the Nayéga Foundation. "
This is the part I would have taken down ? Needs to be RNS before hand that it is approved, as market sensitive news ?
As commercial production is set to soon commence, Keras announced that it will contribute 5% of its attributable net profit from Societe Generale de Mines SA on an annual basis to the foundation. Talks are underway to include community leaders and representatives of the ministry of mines, in the management of the non-profit entity.
Mark, I think just so everything is dealt with behind the scenes, maybe the rns about Nayega upset them and they ordered Togo first to remove the article .. who knows, all we do know is that the board are out there trying to score the deal.
If Togo falls through then I think I am covered through the UTAH project at these current prices, for that reason I am positive on KRS.
I'm far more pragmatic. I'd say we are at the mercy of his greed and corruption and who knows when or if this will ever be resolved because of it.
Jim, Agreed - we have always been at the mercy of his sentiments.
"an ulterior agenda at one of the highest levels of government".
Something I've been suggesting long enough and have shouted down for. The agenda lies with, and in, the Presidents Office.
Photo's on KRS twitter account along with the branding for the Foundation and a public announcement of its launch. It can hardly be claimed anything has been 'leaked'.
The Togo First story was little more than the contents of the RNS released to UK investors. The news is out there. The Togo First story had no embellishments. Why delete it?
Remember, Togo First is in essence government owned.
The article was written in the sense that the mine was approved and getting ready to produce, I'd imagine KRS BOD and the Gov't Ministers who knew it had not been approved and that the mine wasn't ready to start production reacted negatively to that story.
As Russell Lamming said in the last RNS the frame work agreement must be laid down in the DNA of the project and that is what they are out there trying to achieve, for a leaked story to come out would be counterproductive and potentially off focus the working group of KRS and Ministers plus local interest groups, I don't see anything more than that ?
Smells a bit off to me. This is the second positive article that Togo First appear to have had to remove, that could raise optimism for Keras in the Nayega area.
I'm wondering whether we're seeing signs of the real reason the license has been held up - an ulterior agenda at one of the highest levels of government... Being made to feel uncomfortable with our progress and messaging in the community...
Could be the double whammy and chart goes straight back to a penny ...
Russell Lamming, CEO of Keras Resources, commented, "ESG is a key component of any mining project or company and needs to be incorporated into a project's DNA from the outset. The development of the Nayéga mine, which will be 100% operated by a Togolese workforce, will make a significant positive impact on the local community and the Nayéga Foundation will compound that benefit. This trip to Togo has included meetings with key government officials and community leaders to make sure that all structures are in place for when commercial production commences at Nayéga. I look forward to updating shareholders on our progress in both Togo and Utah."
I'll take my ramping hat off now ....
Optomists viewpoint is they asked for it to be taken down so there is no pressure on them locally and a sensible, considered answer and approval can be given.
Noting Russell Laming is out there at the moment .... we could get an early answer ?
CEO Russell Lamming and COO Graham Stacey are currently at Nayéga undertaking a site visit and meeting with community leaders and a delegation from the Ministry of Mines to ensure an open and inclusive process for the development of the Nayéga Foundation. The first project is a clean water initiative which will provide four water stations for both the community and their livestock with water supplied by the infrastructure installed during the 2019 bulk sample project.
posted before complete. Just the one i mentioned ( re 5% profits going to the Keras foundation) the other day and questioned whether it would stay there or not. Seems not as even the link to the story that Marky gave doesn't access it now. :o).