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Hourly - Horult I definitely need to fix it

Hourly - lol, if only I had that excuse.

Dazguard mine does the same puts in random additional words and changes some words to others.

At least it has at long last stopped changing Kodal to Kodak.

M1Rob stating the blatantly obvious in any business.

Glenogle the website has been on for ages, not sure why that RNS has arrived now.

Glenogle the flooding https://www.trtafrika.com/africa/mali-declares-state-emergency-after-floods-leave-scores-dead-18199672

The mine stood up amazingly well to this.

Glenogle - it was a horrendous wet season understated by Bernard, it hit national news and global assistance was requested.

Always a nervous time, from experience a lot of investors sit on the edge waiting to jump in for a profit and forego some of the gains.

Not everyone will take the risk for the reward. Seen it many times.

Shame here a lot of good news to arrive in a short window, nicer feeling for investors when they are spaced out a bit more.

Vatian, that is confusing been looking at that for weeks.

Smkr, yes that audit picked up a lot, nearly 1bn dollars of tax avoided.

Mainly by moving gold ore to an under producing mine from an over producing mine so no over production penalties applied.

But imagine trying to police that with the royalties etc which apply to each individual mine.

Also it shows why they applied the fixed 5% local tax.

Being too smart just tightens everything up for everyone.

Agree George, I don't think badly written articles like this help:

https://www.reuters.com/markets/commodities/mali-says-barrick-gold-owes-500-million-taxes-fines-sources-2024-10-08/

The 2019 code was the new code which tightened up and applied some rules retrospectively in the areas where there were issues, mothballing mines, submitting DFS which had no relation whatsoever to production and so forth. It brought penalties in for some behaviour in the form of taxes.

The audit was to check that the 2019 rules were being applied in the spirit in which they were intended.

Some companies were using avoidance methods, gold ore being one of them. In the companies that were doing this sensible tax planning - in the governments eyes tax evasion.

So the 2023 code was released which left nothing to interpretation.

Barrick are caught up in the audit. Looks like they may pay the tax.

I suspect that the Mali consultancy companies push the limits.

But shorthand press releases like this don't help us.

That is all the later stuff that is in RNS etc, I can't find the older article, it covered history that we would know here.

It went right back to 2008. An economic development programme etc up to the first offtake.

A long time to get to where we are.

PS I meant exploration licence - I just realised what I typed. Early for one of those!

I remember reading an article years ago but I can't remember who wrote it, it was a good summary and covered a lot of stuff that I didn't know, around the time of the original offtake I think. Which would fit as it was topical at the time.

Yes there is confusion with some articles using the Bougouni name.

You are going back probably around 9-13 years it was called Madina, like the sailing boat but with an 'A' instead of 'e' and another name.

Accion they did not hold exploitation licences as far as I am aware.

There was a big write up about it early on. But with Kodal and Leo developing the mines they are lost in a sea of internet.

Gold featured in the early days on this ground pre Kodal but I have heard nothing more about that.

One thing I noticed we went from a Shangdong province company to a Hainan province company.

Suay Chin rolled over easily, although it is still a tidy profit.

Paid by the end of this month 31st off the top of my head.

Sleepy lol, old history of no consequence.

KangLongDa is way later after the offtake.

Re Goulamina Shangdong Mingrui couldn't get the cash out of China which may well be how Suay Chin came about apparently it is Shangdong Mingrui that stumped the money for us.

But they were there before Kodal showed up.

Accionista as you highlight they were in that area and did not mine themselves, they chickened out.

In the early days I read about them there was quite a bit on the net about them but it is difficult to find now Kodal is everywhere.

They bottled it and went offtake only.

Fooca, the information was cut and pasted from the Leo site.

George's was a link to Firefinch.

Regarding generosity that is my opinion. Bearing in mind that cut and paste was only some of the issues raised by the government according to Leo Lithium.

About to sell ore seemingly before the government paperwork for their payments? Is how it reads too.

Ganfeng will be left with the damaged relationship to heal.

Not every company has deep pockets like Ganfeng to offer an out.

Surin, that is how I see it, more external than internal risk.

However the good thing with Mali is that mining and cotton is everything and no government would survive without it.

Governments are only overthrown when there is something to fund changes. What us, gold other mines and cotton is fund the country which in my view reduces risk.

I would not be so comfortable invested in an unimportant fringe industry.