RE: The wait20 Aug 2021 13:27
and your BIT claim % is just a tad off its 55-60% and thats before they moved the licence so it proabably increased now usual BIT is circa 40 ish
there is a 55-60 percent prospect of establishing liability on the part of the Government of Mozambique in a BIT
The Opinion predates the Company's licence title holder update announcement of 11 December 2020. The Board does not believe that the change of name of the Licence holder would adversely affect the prospects of establishing liability on the part of the Government of Mozambique.
https://www.lse.co.uk/rns/PFP/update-re-mining-licence-rwf3qpa1wabii8j.html
https://www.lse.co.uk/rns/PFP/bilateral-investment-treaty-claim-8211-legal-opinion-r1dgbl4jdji2r1y.html
The Board is pleased to note that the Opinion, which is confidential and legally privileged, is consistent with the Board's expectation that, subject to the interpretation of the facts and applicable laws as they are currently known to the Board and Counsel, there is a 55-60 percent prospect of establishing liability on the part of the Government of Mozambique in a BIT claim under Article 2(2) and 2(3) of the BIT. The Opinion adds weight to the Company's strategy of engagement with prospective strategic partners, as well as with the Government of the United Kingdom, in order to first attempt to reach a resolution with the Government of Mozambique through diplomatic channels. Should this not be possible, the Company then expects to resort to pursuing the BIT claim. The Company has already been approached by third parties who have expressed an interest in funding such a claim, and discussions with various litigation funders continue.