focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
So this notification seems to be just a technical legal step to preserve BKY's right to pursue international arbitration in future, if Spain withdraws from the ECT.
Otherwise BKY's approach remains persistence rather than confrontation atm. Imo BKY are well advised, so I guess we have to live with the ongoing delay, and keep going with the softly softly approach rather than pile in with lawsuits now. That said, I doubt anyone realistically thinks the government will ever change tack. As the next election approaches, the best tactic might be to wait in the hope of a favourable government getting in, then go on the attack and launch the lawsuits if this current lot get back in.
The administrative appeal is still to be resolved after nearly a year disappointingly. That might change things if MITECO or CSN are ordered to reconsider, but then again this is a government who've already said they'll say no whatever.
Songwe's potential to contribute 2% of Malawi's GDP is an interesting figure being bandied about atm. Underlines the scale and importance. And one comparison: 2% of GDP is what NATO countries aim to spend on defence. Huge sums.
Interesting that BKY's own lawyer is on this advisory committee. Indicates (as if we didn't already know) that legally BKY's position is sound. Hopefully it will help put some pressure on to Government to grant these permits, or even just to act lawfully for once.
And we need to hear where we're at with this administrative appeal too.
Spain sources/buys nearly 40% of its uranium from Russia (through state-controlled Rosatom) and continues to do so, even though there is no moral social economic environmental or financial case, given that BKY's project is ready to go, and is only being held up because of Miteco's unlawful withholding of permitting.
Russia has started and is pursuing and paying for a bloody illegal war, funded in part by this Spanish money. Sanctions don't include uranium yet.
So yes, the Spanish taxpayer is funding murder, pursuing the coalition's absurd unconscionable ideology and unlawful actions. It needs to stop buying Russian uranium, and permit the mine or pay BKY compensation.
https://euobserver.com/world/156226
Looking back at the 23 Aug 2012 RNS BOR could make a material contribution to fuelling the UK economy
Borders & Southern's prospect inventory contains further relatively low risk structural prospects of a similar size to Darwin along with stratigraphically trapped fans of slightly higher risk but larger scale. Some of these prospects will be targeted in the next drilling phase with the objective of adding to the discovered resources of Darwin and building a core development area.
6 months **** or bust. At least they've got security over the deferred cash payments.
Nice general comment about Falklands oil from Sam Moody today on completion of Navitas' NFB farm in
"The proven oil and gas in the Falklands has the potential to form a material part of wider UK energy supply in a relatively short time frame, bringing with it huge potential security of supply and financial benefits for all stakeholders"
They're doing the right thing re critical raw materials but need to include uranium.
https://ec.europa.eu/commission/presscorner/detail/en/STATEMENT_22_5523
Next step is to establish (via the administrative appeal) that Miteco's refusal to permit, on the back of the CSN 2 report, is unlawful. Opens the door to a claim at the least. Long way to go whatever happens though.
A govt that follows PP's nuclear agenda will help certainly.
"Further in August 2022, PP outlined its political
view that Spain should modify its current climate change law with respect to uranium reserves in Spain to ensure Spain’s energy future is not reliant on Russian sources."
Interesting. More sensible than the coalition's approach.
It would be nice to have an indication from BKY of when the administrative appeal result might be forthcoming. Can't be too much longer?
Inflation headed for 13%+. All the more reason to get our cash into a good project asap. Let's be having you.