Member Info for JimBL

Funny is it not, how Dangote didn't have any similar problems or delays - or needed to meet (yet more) new investment or ming codes -when getting their $2 billion Phosphate and Cement projects agreed and signed off, last November?
It's even more ironic, laughable (or worse?) when considering how our Manganese compliments the phosphate for the WA fertiliser market which Dangote and Togo are looking to exploit.
Lets hope this is all a moot point and the license is in the bag and the news is forthcoming asap.

Of course, and the timing of the trip etc did have positive connotations. Let's hope that positivity is well placed. However, that leads back to what I posted - if the license is still not forthcoming then where is left to go, and will we get a straight answer on what has been and is the issue?
One thing is also certain - if the meetings have concluded and RL is no longer in Togo, then the BOD already know the outcome. It's time they told us shareholders and the market.

Of course it's an opinion. My opinion. Just like yours you post every day.
However, other than the proposition of a 'covid plan' which in itself should have no bearing on the licence issuance, then exactly what facilitation is left for us to undertake or complete after 6 years?
The reality of the situation is we've done everything asked and after 6 years we are still none the wiser as to why the license is not forthcoming. It's simply no longer believable that the BOD would not know why either.

Let's face it - unless the next news confirms the license arrival then Nayega is finished.

I'm somewhat confused by that also - as broker forecast was previously for 0.52 for Nayega value alone. Granted, we have now doubled our shares in issue since then, but we've added another asset, yet ended up with a lower joint valuation than the single asset one!

Yup, I'm in agreement. If I was more cynical than I already am (not possible I hear!) then I'd suspect it's almost like Togo is trying to deprive of us of the asset we have invested so much onto. Inshallah, as they say, hopefully next week goes some way to prove my concerns wrong.

Indeed, Prop. Hard (if not impossible) to see where we have left to go, or what further Togo can request, if it's not forthcoming now.

LOL, it's our own brokers! "Please note: For FCA purposes this is a commissioned marketing communication and not independent research."
Keep it honest.

Nice enough to climb naked into a bath full of alcohol - of any sort - and not get out until I'd drank it all!

It was only expected to take 9 weeks, so once again it could/should have been completed before covid if it was initiated straight away as the RNS suggested.
I agree it doesn't seem so important as getting into production - but as our focus seems to have tilted heavily towards fertilizer rather than EV or steel, then the absence of said report seems a little odd. Would be a good chip to lay on the table at the meetings though?

It appears the Keras website has disappeared from view/is not accessible? Now, given the timing and if I was a conspiracy theorist..... ;-p But seriously, what's up with that, today of all days?

Yes, but was wondering why the study was not initiated as stated, or has not been reported on when a company had already been appointed as per that RNS.
And as that also stated "All documentation, including the Mining Convention and Exploitation Permit, expected to be completed by year end" - i.e. pre-covid - then i again wonder what sort of 'path to production' we now have to explore?

Monty - the Nov RNS (following late Oct news of the decree and the expected license award) literally suggested the same "the ancillary documentation related to the Exploitation Permit is expected to be concluded by year end allowing commercial production to commence in the first quarter of 2020."
But that RNS should be read again as it mentions yet another 'mining convention' and refinery scoping studies (expected to take 9 weeks) of which we've heard no more about.

A research or exploration permit approval is clearly not the same - in our case - as a mining/exploitation permit or license. We should also keep in mind that back in 2014 we were required to give up 50% of our permitted prospecting area due to the agreed mining convention at that time.

Check. I'll have the lot if it comes in ;-)

"All the terms of the exploitation licence and the protocols associated with it have been agreed with the Government of Togo...The Directors are not aware of any further obstacles to the grant of the exploitation licence."
That was from the June RNS. I would - or do - expect more than yet more talks of plans and ever more hand wringing from Togo, if as suggested, we previously agreed everything required. We've cut them in for 10% and completed the change of SGM from a private to public company as required by the mining convention.
Hopefully our 2014 now vintage bottles of champagne can finally be opened next week.

Yeah, hanging on just fine mate. Hope you are too? Equally, I'm here to stay even if full of gripes until this resolves itself with a suitable payday, or we at least get a straight up answer to what the actual problem is. I hope we all do well, LTH's and relative newbies, but that doesn't and shouldn't take away the right to question things. We've seen too many grey clouds to always be blue sky thinking now ;-)
Anyhow, onward an upward. One day, Rodney...

Wholly agree. As a company we have a very well documented and costed 'roadmap' to production already which will benefit not only us but also Togo - we simply need the license to enable us to initiate it. As hopeful as I can remain, the RNS wording is a little troublesome to me therefore.

It is what it is though. Can't dress it up any other way, Andee, no matter how hopeful we remain. The company needs answers and so do the shareholders. I'm hopeful that restarting exploration means the license is coming - otherwise that also makes no sense whatsoever.

Careful, BJ - don't go mirroring all my license angst and speculative criticism as to why it's still not issued ;-p
I really do feel that this next visit to Togo has to be the final breakpoint though. Some delay has been unavoidable due to the two rounds of changing mining conventions we had to go through.
However, with all those hurdles crossed (and more), a 10% share of the company now gifted to the Government, and a decree to issue the license publicly floated almost a year ago - if it is not forthcoming now then there are obviously other issues which we are not, or cannot be, informed of.
I would find it incredulous after all this time and after so many meetings that the BoD would have 'no idea' as to why Togo isn't playing ball on this.