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All bodes well opulentia, and every chance that the reason why no reply was made is because the new administration no longer objects to Panthera's rightful claim, especially given the new direction and emphasis on job creation and the encouragement of private and foreign investment.....Everything firmly crossed. Gl :-)
i have to agree with your friend MM, PAT have a very strong and valid reason why they should be given the permit, Hence the "Stay Order "award from the Indian High court , which remains in place,
GLA LTH im very confident Justice will be delivered here.
Only 9 trading days to go for the potential multi-bag on permit approval. Gla :-)
Ps. I was talking to a family friend earlier who works in the UK legal system about the "Last opportunity " to reply given , and how the State of Rajasthan had failed to reply to the High Court order , and although she isn't an expert in Indian law, she basically confirmed that Panthera would be awarded the permit in such circumstances in a UK court, and would be surprised if an Indian court was any different. Gla ;-)
well as another week draws to a close, we are closer to D-Day, Sp has stablised , come this time next week we should see a gradual increase, imo ,
GLA LTH have a great weekend everyone involved here, the potential will be truly amazing once the permit is secured
Hi opulentia, news from ASM could be due since the last update in March. Gl ;-)
"Additional technical details will be reported in the next newsletter once all results have been received and assessed."
Panthera's has a 17.2% interest in Anglo Saxony Mining ("ASM"), and news of their ongoing feasibility study on their German Tin deposits could drop at anytime, where resource potential is estimated at 217,000 Tons, amongst the largest undeveloped tin resource in the world.
1 Ton = 1,000 Kilograms - Tin Price Per 1 Kilogram 18.36 USD
ASM is a privately held European exploration and development company with its flagship project being Tellerhauser, an undeveloped tin deposit in Germany. Panthera has recently received a shareholder update from ASM outlining the successful metallurgical pilot plant test-work, receipt of an additional £1.0 million from Baker Steel and acquisition of a second globally significant tin resource, the text of which is set out below:
Anglo Saxony Mining Ltd (ASM) is pleased to announce that it has received from Baker Steel Resources Trust (BSRT) the third tranche of the convertible note loan, comprising an additional £1,000,000. These funds will now but used to complete the on-going pre-feasibility study for Tellerhauser.
This investment was dependent upon positive results of the Pilot Plant test work and the commercial test work being conducted by ALS in Tasmania. These results have been even better than the ASM technical team anticipated and prove that the mineralisation can be successfully processed into a saleable tin concentrate. This is in contrast to the previous test work conducted during the 1970s and 1980s by a joint Soviet/GDR joint venture which suggested that only a low grade, unsaleable concentrate could be produced, and confirms the revised geological and mineral processing interpretations of the ASM technical team.
ASM is very pleased with the results of the test work to date and will continue to refine this work to maximise the economic benefits and design an effective processing facility.
Additional technical details will be reported in the next newsletter once all results have been received and assessed.
An agreement to purchase the Gottesberg tin deposit, approximately 28km west of our flagship Tellerhauser tin deposit, has been reached with Tin International AG, and the transfer of the licence has been approved by the Mines Authority in Saxony. Consideration is a mix of cash and ASM shares.
The proximity of this deposit to our Flagship Tellerhauser deposit, combined with its large resource base, higher grade zones, and excellent mineral processing characteristics mean significant synergies exist for combining these two deposits into a single integrated tin operation in Saxony.
This is an excellent development and gives ASM several operating and development options, as well as doubling its existing tin resource base.
This is the first public announcement of a commercial development in lithium-ion batteries in recent times to mention tin, although there are hundreds of published research papers and patents on the benefits of tin use. Three anode materials technologies have been highlighted by the International Tin Association that could each reach 10-20,000 tpa tin by 2030 if they gain market share in a highly competitive market.
Another reason, why Pat could. be sought after in a couple of years with the Saxony investment
Amazes me how this share reacts and moves on each and every small sell, just hope it behaves the same in reverse when the time comes...........
Yes indeed opulentia, I've got 2 weeks holiday in Spain with the family 8th August, and so confirmation of permit approval a week before will mean I'll be pushing the boat out....Good 4and proper!!! Gl :-)
Yes, not long MM, those 12 days will soon pass, and like you i think we will have a run up on the Sp the week before , just got a few quite days to go through and we will finally get a decision which could cause a huge spike in the Sp, given the potential resources that PAT are involved in were hugely undervalued ATM,
GLA LTH Holidays all booked for Middle of August so , hopefully we will be in a far better postion going intot the second half of the year
Only 12 trading days to go for the rescheduled high court hearing and so every chance that the sp will pick up as we get closer to 1st August for those that want in for the potential significant rise on permit approval. The State of Rajasthan had failed to reply to the High Court order 6th May and perhaps the new administration no longer have any objections to the rightful award of Bhukia's exploration permit, especially given Galaxy and Hunch Capital's investment and BSE listing plans and the new direction and mandate with an emphasis on job creation from Prime Minister Modi to re-ignite India's economy and encourage private and foreign investment....a timely and successful conclusion has never looked stronger imho. Gla :-)
Cheers opulentia, and here's the reason why the Rajasthan Government didn't want Panthera to have the permit, this is from NMDC's Financial Accounts...... NMDC is the Indian state owned mining giant, the same NMDC that Prime Minister Modi now wants to reduce their stake by up to 40% in their push for privatisation of state run Miners, oil and gas companies to their plan to raise billions of dollars .
Gold: In Rajasthan Bhukia Gold Block - Your company has submitted the proposal to the Director of Mines & Geology, Govt. of Rajasthan vide letter dated 08.11.2017 for Bhukia Gold Block for over an area of 24 sq km in Banswara Dist. for reservation under section 17(A) (2A) of MM (D&R) Amendment Act, 2015 for Gold for Prospecting and Exploitation. The matter is being pursued with Govt. of Rajasthan.
Read more at: https://www.goodreturns.in/company/nmdc/director-report.html
Interestingly enough, NMDC won the race for a Gold mine last July 2018 in another area of India, and so one would imagine given the development costs on one gold mine , one gold mine development in India would be enough, they've already got a few eslewhere.. Gl ;-)
NMDC wins race for gold mine in AP
PTI Hyderabad | Updated on July 29, 2018 Published on July 29, 2018
State-owned NMDC Limited has emerged the highest bidder for a gold mine in Chittoor district in Andhra Pradesh through e-auction, pushing behind big players including Adani and Vedanta, a senior official said.
“This is the first time that NMDC is going to take up gold mining in India. We are the highest bidder in the e-auction for the gold mine located in Andhra Pradesh. Now the state government will call us to fulfil other formalities,” National Mineral Development Corporation Director (production) PK Satpathy told PTI.
Timelines will be decided after the government formally announces the decision, he said, adding that mine development will require about Rs 450 crore investment in different phases.
A senior official of the miner said the Chigargunta-Bisanatham gold block for mining lease located in Chittoor district has an area of 263.01 hectares and the resources are expected to be 1.83 million tonnes containing 5.15 grams of gold per tonne.
“The total gold content recoverable would be 8.5 tonnes approximately with potential for upside. The mine will be operated as underground mine which is the first of its kind for us. NMDC offered 38.25 per cent revenge sharing to the government on sale value,” another official said.
The official also said NMDC and the state government will enter into Mine Development and Production Agreement once all the necessary permissions such as environmental clearances are obtained.
According to the official, it may take up to two years for mining to start for the extraction of gold. NMDC is currently developing a gold mine in Tanzania and plans to set up gold refining facility there.
Interesting piece of historical news tha MM, you can see why they have ried to oppose the permit, then, however they assumed incorrectly that Panthera have a legal right to be awarded the permit due to past work they had undertaken in the Bhukia development process,
one thing they have correctly identified is the anual growth of Gold Demand in India and its demise on the Indian Economy,
i cant think of a better way to curb this influx of gold from foreign entities than to award this permit and alllow Panthera and Galaxy to prove up the asset , and get some serious investors on board to develop this Massive potential Gold resource,
GLA LTH Have a great weekend MM , not long now
The following makes me laugh and is obviously directly related to Panthera's claim over the Bhukia prospect, this is from 2016 and appears that the BJP party who had control of the Rajasthan Govt. and their friends in the Rajasthan Mining Dept had other plans for Panthera and Metal Mining India's permit license and were hell bent on denying Panthera's legal rights to the permit, which have since been protected by the High Court with the Stay and Protection orders in place in favour of Panthera.
The Rajasthan administration is now controlled by the Congress party since the December 2018 assembly elections, and they may have a more sympathetic view on proceedings now that Galaxy and Hunch Venture Capital are invested following their extensive technical and legal due diligence, and also now that the project is planned to be listed on the BSE to enable Indian investors to participate in Bhukia's development.
Prime Minister Modi's new mandate to to re-ignite India's economy which includes a new mining policy to encourage private investment has got to add weight to Panthera's case, and as the Rajasthan Government have failed to reply/object to the latest court order, then a successful conclusion could be fast approaching with the rescheduled High Court hearing listed 1st August 2019. Gla Holders Tick Tock Boom!!! ;-)
Rajasthan to auction copper, gold mines
20 April, 2016
As part of its strategy to drum up investments in the state, the Rajasthan government will shortly auction copper and gold mines.
While the state is all set to float notice inviting tender (NIT) for a copper mine in the Ajmer district, it has also identified two gold deposits ”Bhukia and Dagocha ”for auction.
"We are trying to solve the impending legal matters so that these two gold blocks can be brought to auction. Mining leases for these blocks were earlier awarded to some other parties," said another Rajasthan government official who also didn't want to be identified.
VC Circle couldn't ascertain the name of the lease holders.
Queries emailed to Rajasthan government's mining department and Union ministry of mines on 19 April 2016 remained unanswered.
Encouraging news for Bhukia's privatisation and development imho, any initial state run aspirations by the Rajasthan Government that may have been the main reasons why they originally objected to Panthera's permit, now look to be out of line with Modi's new direction, especially with the implementation of the new mining policy, for ease of doing business to encourage private and Foreign Direct Investment . Gla ;-)
Exclusive: India aims to raise $47 billion from stake sales in state firms over 5 years - sources
12th July 2019
NEW DELHI (Reuters) - The Indian government has plans to raise as much as 3.25 trillion rupees ($47.4 billion) in the next five years by reducing its stakes in some large state-owned firms to 40%, two senior government officials told Reuters, in the nation’s biggest privatization push in more than two decades.
Last week, finance minister Nirmala Sitharaman in her budget announced that the government will look to reduce direct controlling stakes in some state-run firms on a case-by-case basis.
The plan will open up a steady stream of state companies to greater private investment, and target the kind of annual divestment revenue that will be crucial to meet fiscal deficit targets.
Prime Minister Narendra Modi’s administration already sold government stakes in a host of companies to raise a record $40.92 billion in his first five-year term, nearly three times the divestment proceeds of $14.52 billion achieved by the Congress party government in 2009-2014. Modi was re-elected for a second-term in a landslide victory in April-May.
The government has identified a number of state-owned firms, including explorer Oil and Natural Gas Corp (ONGC.NS), oil refiner Indian Oil Corp (IOC.NS), gas transmitter GAIL (India) Ltd (GAIL.NS), power producers NHPC Ltd (NHPC.NS) and NTPC (NTPC.NS), miners NMDC Ltd (NMDC.NS) and Coal India (COAL.NS), and Bharat Heavy Electricals Ltd (BHEL.NS), said the sources, who declined to be named due to the sensitive nature of the matter.
The quick turnaround, only 15 trading days to the High Court hearing 1st August, suggests Panthera's chances look stronger than ever and the timely rescheduling may have been inluenced by those involved in Galaxy's planned BSE listing.....with the award of Bhukia's exploration permit being integral to Galaxy's listing which will enable Indian investors to participate in Bhukia's development , and so presumably by now, the listing process must be well advanced and the key Indian institutions with a vested interest must be ready to initiate listing proceedings, and along with the rest of us, are eagerly awaiting permit approval so that the process can commence. Gla holders...Excitement back on track in anticipation of significant UPSIDE on a successful conclusion....Not long to go....On and Up!!! :-)
Excellent news indeed opulentia, and extremely encouraging that the hearing has been rescheduled so quickly and only a couple or so weeks to wait. I would have been concerned if they had pushed it back for months , and so presumably negotiations have been in overdrive to ensure a timely conclusion and with no reply or objections , permit approval now looks very much to be a done deal imho...... Gl ;-)
Thats gereat news , cheers MM, now only a couple of weeks to wait, so much for one or two panicking that a date hadnt been set, now it seems we have a clear route to Pernit approval, with no objections out before the court,
Onwards and Upwards on approval,
GLA LTH Just needed a little patience and after al these years 2 weeks is a stroll in the park, hopefully i can pick a few more up over the next couple of weeks
anthera's high court hearing has been rescheduled for 1st August 2019...the State of Rajasthan failed or made no attempt to reply to the " Last opportunity ", and so every chance the new Rajasthan administration have no objections to the rightful award of of Bhukia's exploration permit. Gla holders Tick Tock Boom!!! :-)
.not long to go....Gla holders On and Up!!! :-)
Rajasthan High Court Principal Seat Jodhpur
Case DetailsCase Type: CW
Filing Number: 36276/2018Filing Date: 01-09-2018
Registration Number: 13521/2018Registration Date: 05-09-2018
CNR Number: RJHC01-060720-2018
First Hearing Date:
Next Hearing Date: 01st August 2019
Stage of Case: FOR ADMISSION - NOTICE SERVED
Coram: 1645Bench: Single BenchState: RAJASTHANDistrict: BanswaraJudicial: M/B WRIT SECTIONCauselist Name: Daily
Petitioner and Advocate1) METAL MINING INDIA PVT. LTD.
Advocate- VIKAS BALIA DINESH PAL SINGH CHARAN,ASHOK CHOUDHARY,PRAMOD VYAS
Respondent and Advocate1) STATE OF RAJASTHAN
Advocate -SANDEEP SHAH
3) UNION OF INDIA
Maestro, ive no idea when they will set the new Court day, we will find out soon enough ,imo just be patient, and wouldn't really class India as a third world country,, they are an Industry Power house emerging from the shadows,
the investment going into India is massive, and India are open for business its. not in their interests to start upsetting the apple cart,
If you have no trust here, I suggest you move on to other shares, you either like the investment case or not, and lets not forget Panthera are not a one trick pony like CM where,
the other assets alone are prob worth more than the current MCAP imo,
Anyhow nice chatting , and best of luck which ever way you decide to go.
GLA LTH Im hoping to hear from Geoff in the next few days.
churchill mining is all over. finished....
how long will the court date take to set? thats my only worry about investing in south asian countries we get limited support.
Its clear PAT has a strong case but in 3rd would countries they will just take them away from you.
Maestro, were somewhat slightly different to CM, I remember them too, in Indonesia wasn't it? had a huge coal resource then they where done over by some Army General, if I remember tried to make out the licences and permits had been forged, think its still on-going ????
However I believe Panthera have a much stronger case, and now with Galaxy on board gives it a much higher chance of successful outcome, imo
at the end of the day there is still a huge amount of work to be done to prove up the asset, which will require a large sum of finance, then move it towards a BFS again this will require another large sums of money, I can't see the GOR , willing to form its own Gold Mining Development Company , can you??, and what kind of message is that going to send throughout the Mining Industry, ???, There will be a new date set , just need to be patient, and don't panic , is my view,
GLA LTH lets see what the end of the week turns out before we start to panic, or get nervous
im not suggesting that one bit but you have to question how the court had no time to hear the case today and no further dates given.
I got burnt in Churchill Mining, its clear PAT has the rights to the license but i think a massive asset grab in on course. Just dont understand how they get away with it. International Arbitration are no help.
Not really the kind of behaviour one should be suggesting or even condoning , unethical and corrupt, that is what got the last mining Minister and his team arrested, and thrown out of office,
I would hope that Geoff and the other BOD would never take this route, it only comes back and bites you in the end, it could be devastating to any Company if they follow the corruption route,
GLA LTH Need to have faith that Justice will prevail in the end
why wasn't a reschedule date given today if they didnt have time to hear the case?
me think some green paper in brown envelopes.. :)