Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Yesterday, Ganfeng "The former concessionaire company has filed an injunction in the use of its rights".
https://www.elfinanciero.com.mx/empresas/2023/10/02/ganfeng-lithium-impugna-concesiones-para-explorar-litio-en-sonora/
Let the games begin...
Yes @Bannor...hold the champers a mo.
His argument is that they can't retroactively apply the nationalisation law to pre-existing concessions.
But that's not what they are doing, they have cancelled the concessions arguing the minimum spend requirements have not been met! (Ganfeng insist they have, hence the submittal for an administrative review to the Mexican Ministry of Economy).
Possible further action if unsuccessful...
A report published in February by NGOs MiningWatch Canada and the Mexican Network of People Affected by Mining (REMA) warned that companies that suffered expropriations, even when meeting minimum investment obligations, could sue Mexico under the Comprehensive and Progressive Trans-Pacific Partnership Treaty. , ratified by Canada and Mexico.
Https://www.nasdaq.com/articles/mexico-not-able-to-cancel-ganfeng-lithium-concessions-chamber-says
Latest interview https://youtu.be/jQWmpj9-MJE?t=1410....Just saying😉
@Huinhwa....the recent RNS states 12 - 16 months time to complete the licences....not DFS. To continue it ourselves the DFS will start after this period.
https://youtu.be/G_hsjMjB0XQ?list=FL_H_anZsVqu67H60kmT4EeA&t=1587 from 26:27 to 28:44
I then refer you to EV's previous post.
From WHI.....
https://t.co/qCqGc7Pxx2
Bannor, there were 10 concessions....Megalit, the largest concession was the only one without a license and not listed in the RNS (only San Gabriel and Buenavista which are the other 2 concessions of 3 that form our JV2).
Yet they are fighting over 9 'granted' concessions....I'd have thought and posted previously that the fight would have been for the 'largest unlicensed one' lol.
@Bannor, that is correct, I agree with your recollection of what was said.
Would it be safe to say the Megalit concession has gone....seeing as the fight is over 9 concessions that have been 'granted'?
Resource nationalism can manifest itself in a number of different actions taken by governments, in order of increasing severity....
Observing existing contracts but not renewing contracts that have expired.
Indirect expropriation, where an investor retains legal title to their property but is deprived of its economic use (eg, ex post amendment of agreed fiscal terms (tax and royalty rates) to increased governmental share of revenues).
Lawful nationalization, normally undertaken for public purpose and on a non-discriminatory basis, with due process and fair compensation.
Unlawful expropriation of foreign-owned assets without fair compensation.
KM stated end of July that "Ganfeng were seeking further assurances"....Interesting response by the Gov't.
Pilar Gold has acquired the Tucano mine off Great Panther....wonder where that leaves our Amapa mine life extension?
https://www.bnamericas.com/en/news/pilar-gold-acquires-tucano-mine-in-brazils-amapa-state