Member Info for Laverda

Stephen11, in case you don't know what I am referring to

https://www.youtube.com/watch?v=XRJwJc6Yppo

Stephen11, Castlemaine xxxx, I can see the mine from here....

Good point George regarding the wet season, all of the contractors need to have had their holidays as this will be a massive 12 month push when it starts.

So in short it was just a massive undertaking.

Compliance is Aussie talk and I am not 100% on what this means, I have a feeling it will be nothing more than each of the permits, licences and environmental licences etc changed to the new company name, but there are a lot, access to water, waste water, tailings, use of roads the list goes on.

No mention of the mining code.

Yes Elcobble, if you look at a detailed overview of the 2019 mining code and the reasons behind it, then relate the new update back to those points, then it all makes sense.

The 2019 mining code tried to promote business in some areas and deter poor outcomes in others.

The promotion was with tax breaks, they achieved what they wanted and some of those are being removed now.

It all makes sense if both are read.

Acker if they are, this will make Pilbera Minerals very nervous, they are building a full on production plant with another company based on this technology.

In that article I posted yesterday it mentioned gold ore.

In the 2019 mining code update there was additional tax added for over production. It seemed a mining licence would be granted on low ounces but many would actually be producing much more than their DFS. Missing some tax it appears. However many gold mines have been getting around this by moving ore to other mines to be processed.

The new mining code will shut the door on this practice, Leo's Lithium ore could be caught up in this regulation change.

Last time it took a long time for the changes to the mining code to be implemented.

I can't see any of this affecting our Mali gold interest, Bernard would not sit on a DFS gold mine with a mining licence and would not run ore elsewhere to avoid paying a tax. More detail will come out.

It is worth reading the changes in 2019, they were all sensible and reasonable. In the context of what was done then, these appear ok too.

PD, your issues are much greater 175% inflation in June, restructuring Zimbabwe debt will be difficult with this leader. Broken economies are a much greater threat to peace than cross border terrorist threats.

https://www.theafricareport.com/320132/zimbabwe-election-poll-heist-closes-door-on-economic-recovery/

Marcus brake regeneration, if you set it high, most do not as it irritates combustion engine vehicle drivers, you barely use the brakes on an EV.

It certainly looks like some mining companies have evaded royalties and taxes, that is a large shortfall.

Looks like Leo Lithium may have to pay substantial fees on ore shipments.

DYOR

Looks like the 'implementing decrees' dictate if existing licences are affected, I would have imagine on the ore side they will, I also see that the Firefinch issue may have been taken into consideration in these changes, but more information is required.

According to this it was signed last night, so much for the other stories, gold ore has been an issue, so that has probably tripped up Leo Lithium.

https://m.miningweekly.com/article/mali-president-signs-new-mining-code-in-bid-to-raise-govt-stake-2023-08-29

ISAs alternatively list everything that they are waiting for, if the list is now short it may be possible.

This RNS could land anytime and none of us will get an inkling beforehand. Could be before you finish typing your post.

Accion, I don't agree with the linked comment that the new share ownership will put explorers or miners off.

The government has to purchase any additional share as before, but simply has an additional 10% purchase option. It is just more cash in the bank.

The local work rather than funded directly through the mine as it is now, will change to a formal 5% paid to local government. I am not sure if there will be a cost difference there or not.

Action=accion

Cheers Action, ours is for 12 years with extensions

Daz but have you read a single mining company's RNS or communication to investors on this new code?

If it was out and signed and sealed the gold mining majors would have released a communication of some sort to investors - not one.

That was not the case in 2019.

Not that it is anything major for us, the government has to purchase extra shares they are not given.

Onlyking, I think the last update was 2019 from memory.

Rotter good point, I forgot about that, it was the reason I checked on Firefinch/Leo Lithium/Ganfeng and their gold mine issue in Mali, I wondered if the read across was gold until the DSO comment in the second RNS.

It clearly states in relation to production of directly shipped ore.

Reading through a board for Leo Lithium their board is not crystal clear about the mining code changes in Mali.

They are in Australia and have a much more robust mining reporting journalism outlet than us.

Some of our, or European reporters seem to have been a bit ahead of themselves with their reporting in this area.

I think it may have been through first stage only, which I believe is approved to be consulted upon and considered.

Normally they go through pretty much as the draft, but I don't think it has been fully adopted yet.

This could be why the same story is completely missing from the serious mining press.