Member Info for MegaTron1981

journalducameroun.com/en/biya-meets-general-electric-africa-boss/

Well aware longlad. I think last RNS to which GE have committed to timeline shows they're still engaged. GE just committed to £600m power deal in Iraq, so still investing in power projects... those both eased my mind. Their situation is bad but not terminal. They need to turn their power division around and you can't do that by stopping investing in gov backed projects. These are the projects that will turn that div around imho.

*Mr Culp

*driving the dip ... They also clearly state "...WITH DELIVERY OF THE SUPPORT DOCUMENTS, THE COMPANY'S ATTENTION MOVES TO FINALISING AND IMPLEMENTING A REVISED TIMETABLE WITH ITS STRATEGIC PARTNERS". They're doing precisely what they said they would. Meanwhile, GE have just signed deal in Iraq power project. The first such power deal under new CEO Mr Can, where big money is committed to power project in less stable region. Dates haven't chang d since last RNS have they? They said hopefully by Chinese new year in last interview a while back, too. So, why the drop?

5th Nov RNS in the company's own words "The Support Documents have been shared with the Company's potential strategic partners FOR REVIEW, and the Company has submitted a proposed updated timetable for signing of the JDA, receipt of firm EPC and O&M proposals and commercial operations date for the Project. THIS PROCESS [THE TIMETABLE: JDA>COMMERCIAL OPERATIONS] INCLUDES COUNTER SIGNING OF THE MOU by its potential strategic partners to give it legal effect." NOT EXPECTING MoU yet...

thenational.ae/business/economy/ge-and-two-banks-ink-financing-for-iraq-s-power-sector-1.795650 Moz far more stable than Iraq, but GE and its banking partners still investing. This is the best news I've read re GE for some time.

Those selling because no mention of MoU haven't been paying attention. From Nov 5th. EMPHASIS mine. "...The Support Documents have been shared with the Company's potential strategic partners FOR REVIEW, and the Company has submitted a proposed updated timetable for signing of the JDA, receipt of firm EPC and O&M proposals and commercial operations date for the Project. THIS PROCESS [THE TIMETABLE: JDA>COMMERCIAL OPERATIONS] INCLUDES COUNTER SIGNING OF THE MOU by its potential strategic partners to give it legal effect. As per previous announcements, the Company's believes that the JDA can be completed within 3 months of an updated timetable being agreed...<br /><br />Non-Executive Chairman, Michael Haworth, commented:<br /><br />"Receipt of the Support Documents from MIREME and EDM are welcomed by the Company, as they PROVIDE FORMAL SUPPORT for the continued development of the Project as well as confirmation of the process and key development milestones required to enter into formal tariff negotiations and finalise the Project development timetable. WITH DELIVERY OF THE SUPPORT DOCUMENTS, THE COMPANY'S ATTENTION MOVES TO FINALISING AND IMPLEMENTING A REVISED TIMETABLE WITH ITS STRATEGIC PARTNERS to deliver key development milestones, particularly the delivery of the JDA which the Company believes it is adequately capitalised to achieve..."<br /><br />

I hope so for LTHs sake. This Senator makes some big accusations. It's a laundry list! Bit OTT. Perhaps an attempt to swipe the assets is afoot. Whether any of these infractions are substantiated we will see, but imho this is the simple reason for sp drop. These jurisdictions are tricky. In an early buy for me as a PI, I lost a fair bit on BZT's Mankayan deposit in Philippines over the water. Indo is much more mining friendly though as far as I'm aware. Like you say, good time to top up, if you believe in the long term story. I certainly did until this. Will watch closely for clear sign the bump has been traversed successfully by the BOD. GLA

From local residents it is known that the mining zone is feared to include a number of historical sites, aulia tombs and cultural heritage and tourist zones. Even the mining area also allegedly covers the flood buffer zone.

So that PT EMM's mining operations are feared to have a negative impact on the environment and have the potential to cause floods and environmental pollution. "Responding to the aspirations of the community and the region, we in this matter asked the relevant authorities, KLHK, the Ministry of Energy and Mineral Resources and BKMA to conduct an evaluation and review of PT EMM's production permits in Nagan Raya and Central Aceh. Moreover, the reaction to the rejection is increasingly massive in Aceh, this is feared to have the potential for conflict in the future, "said Haji Uma.

Meanwhile, the Secretary General of the Ministry of Environment and Forestry, Bambang Hendroyono, said that his institution continued to be committed to creating a healthy environment and forest for the benefit of the community. He will follow up on all aspirations conveyed by each Senator of the Republic of Indonesia DPD. At the end of the working meeting, senator H Sudirman alias Haji Uma officially submitted a letter regarding his rejection and an evaluation of the permission of PT EMM in Nagan Raya and Aceh Tengah which was received by the KLHK Secretary General, Bambang Hendroyono witnessed by the Chairman and members of the Committee II DPD RI.

"We have submitted a letter of invitation to evaluate PT EMM's permit to the Ministry of Environment and Forestry and two days ago we also sent the same letter to the Ministry of Energy and Mineral Resources. The hope is that with joint efforts all components in Aceh will be able to provide the best results for the community and the region, "concluded H Sudirman.

Previously, the Public Relations of the Ministry of Energy and Mineral Resources, Agung Pribadi said, in providing exploration permits to PT EMM, the ESDM Ministry had carried out in accordance with applicable legal regulations. Answering Serambinews.com on Thursday (9/27/2018), Agung said, PT EMM as a foreign capital company (PMA) had also filed a permit in accordance with applicable regulations. Therefore, the Ministry of Energy and Mineral Resources provides licenses after going through the procedures and stages that apply in the legislation.

http://aceh.tribunnews.com/2018/11/16/haji-uma-serahkan-surat-terkait-pt-emm-kepada-klhk

Friday, November 16, 2018 5:05
 
 Hajj Uma Submits Letters Related to PT EMM to KLHK
IST

JAKARTA - The Committee II DPD RI held a working meeting with the Ministry of Environment and Forestry (KLHK) at the KLHK office in Jakarta, Thursday (11/15).

In the working meeting of the RI DPD II committee, present was the Secretary General of the Ministry of Environment and Forestry (KLHK), Bambang Hendroyono along with all officials of the Director General. Meanwhile, the main agenda of the discussion focused on the progress of policy implementation on the processes of environmental and forestry management in various regions in Indonesia.

While the Indonesian DPD delegation was led by senator from East Kalimantan, Aji Muhammad Mirza Wardana, as Chair of the Republic of Indonesia Committee II DPD followed by H Sudirman (Aceh), Bahar Buasan (Bangka Belitung), Anang Prihantoro (Lampung), Mamberob Yosephus Rumakiek (West Papua), Hj Ema Yohanna (Padang) and several other Committee II members. The process of the Committee II DPD RI working meeting with KLHK was preceded by remarks by the KLHK Secretary General Bambang Hendroyono and continued with presentations from the entire Director General regarding the realization of policies and implementation as well as the achievement of the 2018 fiscal year work program.

In the working meeting, Committee II requested that KLHK go down directly and follow up on environmental issues in the area. Because so far many regions have experienced pollution that has caused environmental damage. According to Chairman of Committee II DPD RI, Aji Muhammad Mirza Wardana, some information that KLHK has is different from information circulating in the community. Therefore, the Ministry of Environment and Forestry was asked to go directly to the area to see the condition of the forest and the environment.

Meanwhile, Aceh Senator, H Sudirmanyang, familiarly called Haji Uma, complained about the gold mining operations of PT Emas Mineral Murni (EMM) in Beutong Ateuh Banggalang, Nagan Raya. According to him, there is currently a massive rejection of PT EMM, both by local residents, environmental activists, and various other elements in Aceh.

Even today the Aceh People's Representative Council (DPRA) also rejects PT EMM's operations. "PT EMM has obtained an exploration permit and has also obtained a production permit from the Foreign Capital Management Agency (BKMA). But from developing, the licensing process initiated by impact and environmental analysis (EIA) is a bit strange. Because the area proposed for the AMDAL is around 3000 hectares, the permits obtained are 10,000 hectares, "said H Sudirman.

In his presentation, H Sudirman also revealed, he had met with the Department of Energy and Mineral Resources (ESDM) and had come directly to the mine site and met directly with the community....

I'm doing this research anyway, as I want to keep tabs on things in case a green light to buy occurs e.g. gov dismissal of local issues. Does anyone want me to post the stuff I find periodically? Don't want to be called a deramper... For those that want to keep abreast of things, Google "PT Emas Mineral Murni" and then use Google translate. GLALTHAs

Is it me or is this rerating? Last time we were heading towards 1p it was driven by hope for survival i.e. the shareholder mutiny of 2017. Now with a proper Captain at the helm and the ship steered away from the rocks, it's driven by assets, ability and genuine belief in the swashbuckling story being written. Everything appears ship shape and Bristol fashion. SS INFA will need to be upgraded to HMS INFA if she is commissioned for national service. I'm back up to 1m having bought back in at 24 and 48 respectively. I think it's time I had a divi stock in my portfolio!

https://www.bbc.co.uk/news/business-46256117 UK's richest man eyes North Sea oil and gas fields... Things are moving in the BBC right direction investment wise and Britain needs it to given our energy security situation. Fingers crossed!

Topped up this morning. Think they should RNS the highlights of that interview

I think this is probably excellent top up time. There is desire from all sides to make this work including
Vasterbotten county which is pro mining on the whole and
National gov, given strategic critical national importance of fluorspar to EU. I'm sure they can figure out a solution to the tailings facility that is reindeer proof. We also have Acquisition news to come. Don't forget that if the acquisition process had fallen through, that would be material news which would have to be RNSd. Expecting Mr.Clemmey to show his doubters the finger with one of the above RNSs any time now. Placing also possible of course. Poss even better dip to buy if so.

https://habadaily.com/haba-gaya/13952/walhi-aceh-hadapi-dua-pihak-tergugat-di-kasus-pt-emm.html using Google translate I dig some digging and this was published today "HABADAILY.COM - Jakarta TUN Court again held a Walhi Lawsuit hearing against the Head of BKPM. Today's hearing was attended by Lawyer of the Plaintiff Judianto Simajuntak and Attorney of BKPM. Also attending were Attorney at PT. Pure Mineral Gold (EMM).

"The session is opened and open to the public with the readings of the Plaintiff's Claims and Received Answers from the Defendants, which also scheduled the Decision regarding the entry of PT. Emas Mineral Murni as the Intervention Defendant," said Executive Director of Walhi Aceh, M Nur, Wednesday (11/14). / 2018).

In the trial process, he said, the Judge accepted the request of PT. EMM who entered as Defendant Intervention. This means that there are two Defendants to be faced by Walhi at the Jakarta PTUN, namely the Head of BKPM as Defendant and PT. EMM as Defendant for Intervention.

"The trial scheduled to receive the Defendant's answer will still be postponed next week, Wednesday, 21 Novemver 2018 because the Defendant / BKPM has not yet completed the answer. The hearing was postponed until Wednesday, November 21, 2018 at 10.00 WIB," concluded M Nur.

Muhammad Nur previously told several media that the PT EMM mining business was located on 10 hectares of land. The company mines gold from three sub-districts in Aceh, which are in two districts, namely Beutong Ateuh Benggalang sub-district Nagan Raya and Pegasing District and Cilala Sub-district in Central Aceh.

The total land area of ​​10 thousand hectares consists of APL about 3,620 hectares, and protected forests and KEL covering 6,380 hectares.

Walhi Aceh questioned the area of ​​the gold mining permit which reached 10 thousand hectares, while the permits granted were only 3,000 hectares. Walhi Aceh also questioned the reason BKPM issued a decree for PT EMM.

Walhi Aceh suspects that PT EMM violated several procedures in obtaining this gold mining business permit, including a violation of the AMDAL permit. Because, said M Nur, based on the Aceh Environment and Forestry Service letter, PT EMM's AMDAL documents located in Nagan Raya and Aceh Tengah were not available at the Aceh Environment and Forestry Service.

"The AMDAL document was not found in the LHK Office," said M Nur, as reported by antaranews.com , October 15, 2018.". From the ARS website "The holder of the Beutong IUP is PT Emas Mineral Murni, ("PT EMM") an Indonesian company. PT EMM is owned 80% by Beutong Resources Pte Ltd. ("Beutong Singapore") a Singapore company. Beutong Singapore is owned 50% by Tigers Copper Singapore No. 1 Pte Ltd. ("Tigers Singapore"). Tigers Singapore is owned 100% by Asiamet Resources Limited. Therefore, Asiamet holds an effective 80% interest in the Beutong IUP. PT Media Mining Resources ("PTM") owns the remaining 20% of the shares of PT EMM." I hope I'm wrong about t

Thanks mate. Do you have any links re gov response?

Was in this share from 4 to 10p. A rare success in terms of timing entry and exit for me. Pure luck. What's the situation with protesting in the locale? I heard it's nothing to do with any of ARS's assets, but didn't know if anyone had done some deeper research on the matter and could share their findings. Thanks in advance. MT

My initial thought when they mentioned Blue chip, was FTSE100 - Centrica. I've seen Vitol described on Google search as blue chip though

Haven't posted for ages but been in since 2014. I do sometimes wonder whether the whole situation with the deeps is contrived. Maybe someone can help.me with the math. Had each deep well flowed without issue when target depth reached, how many barrels of oil wouldn't now have been sold at local prices and what would that come to in local prices Vs international price? If the difference exceeds the cost of the side tracks at A5 maybe there's some logic to it all. Certainly other benefits to stalling from the corporate side of things, getting 100% ownership sorted and chucking in the dead horse company so all can be flogged at once... getting tax stuff all teed up by gifting to family etc. Watch this all come good when the CEO and CFO have all their chess pieces in position.