focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Can’t find anything there @deck, but this has changed and now says June/july 2024
https://mines.gov.in/webportal/content/ongoingnit
I’d be very happy with 12% of spot @deck… back of the rack pack is that’s 1.7bn dollars…
Think there’s a lot of water to pass under the bridge before we get anywhere near that.. but here’s hoping, and that’s my optimistic hope that MB puts in a claim for that. If then we go up to 10-15% of that value in the interim as other companies in this situ seems to do, it’s still eye watering increase from here.
Noting @gallmats plan for the worst and hope for the best… let’s get that claim started!
Https://economictimes.indiatimes.com/news/elections/lok-sabha/india/whats-model-code-of-conduct-how-it-came-into-being-and-whats-allowed-and-whats-not/articleshow/108545901.cms?from=mdr
I wonder if it’s just the agreed timeline of events to avoid (ahem) any corruption?
What's Model Code of Conduct?
The MCC serves as a set of conventions unanimously agreed upon by all stakeholders involved in the electoral process. Its primary objective is to ensure that campaigns, polling, and counting proceed in an orderly, transparent, and peaceful manner. Additionally, it serves as a mechanism to curb any misuse of state machinery and financial resources by the ruling party. Notably, the MCC does not possess any statutory backing but has been upheld by the Supre ..
Might be waiting a bit longer for news, but this confirms auction is going ahead starting today…
https://mines.rajasthan.gov.in/dmgcms/Static/files/Revised%20timeline%20of%20gold%20blocks%20floated%20for%20auction%20vide%20NIT%20dated%2006-03-2024_1711294329641.pdf
Well the auction is on Thursday, so there’s defo potential to be a news rich week….
Wonder how the online auction works? Closed bids or open room… not talking chicken feed either way…
Was just thinking how much DD these bidders could have done? Or indeed what is in to tech info pack for 18k? Wonder if they did any further drilling or investigative works?
Problem is, I suspect none of that will be made public, nor will the girth of the stamped addressed brown envelope…
In the hands of gods now….
Worth a re-read of allenbys research note again.. https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2023/11/20231109-Panthera-Resources-plc-PAT.L-Allenby-Capital-Update.pdf?c3911=on
– Litigation status: The litigation process against the Republic of India will remain at an
early stage even following the commencement of arbitration. According to Panthera,
proceedings are likely to take at least three and possibly five years. In the intervening
period there is, however, likely to be influential news flow. Near-term, in the absence of
an amicable settlement, the key items are likely to be the commencement of the
arbitration process and the size of claim for damages. We would expect the latter to be
announced at the beginning of the arbitration process probably in early 2024.
Both of these things mentioned can’t be far off now….
It’s all conjecture and each time I reach a conclusion, I start again and come to something else…
One thing for sure, is that it ain’t 11m like we are worth today.
(Being an optimist, I’m with the prof, and just don’t think MB would accept a lowball figure given the profit once the stuffs dug up…. I think for a quick settlement it needs to start with more than a 5, and think the mine will sell for 1m- 1.5bn $ unless the auction is a sham in which case we head to arbitration armed with other mine sale values)
Hopes and dreams hey… anything over a quid pays off my rental properties mortgages….
Genuine good luck and I hope whatever happens meets whatever expectations you have… as Gallmat said a couple of weeks back, MB seems to be the right person for the job.
Is two weeks tomorrow…
Any takers for an RNS by cop on Friday 3rd?
Whether it’s sold or not, it’s significant news for the business, and the outcome I suppose should be reported as per AIM rules…
Only reason why not would be if it’s not made public immediately.
If not sold, question would be is it price or is it because of our claim.
If it is sold, the RNS should be whether the arbitration letter had a first or second class stamp and how many zeroes are we asking for.
Just don’t see how the 2nd may isn’t a notable day either way and I think our nomad would have to issue an RNS…. Gulp.
Yep, @sheer, if MB or LCM need a hand in pointing out the obvious shenanigans afoot then they can come to us!
Seriously though, it’s quite clear from just these two articles that some brown envelope from an Indian miner has gone to grease the pockets of the government somewhere along the line.
Totally happy with my investment here as it’s pretty bl00dy clear to any arbitration court what’s gone on.
Pk
On the link in the message below, but been keeping an eye here- https://mines.gov.in/webportal/content/ongoingnit
Just spotted on another article a very succinct summary of the brown enveloping that’s been going on:
The state’s trade bodies and businessmen have urged the government to amend the gold mine auction system and provide mining contracts to local businessmen.
About a decade back, the state had discovered 113.52 million tonnes of gold ore in reserves in the Bhukia-Jagpura village of Banswara district.
Full article: https://www.business-standard.com/india-news/rajasthan-s-trade-bodies-urge-govt-to-amend-gold-mine-auction-system-124022600693_1.html
That’s exactly what’s been going on, and that’s your smoking arbitration gun…
Looks like last bids received on 12 April….
https://www.myind.net/Home/viewArticle/first-ever-e-auction-for-gold-mines-initiated-by-rajasthan-government
Just trying to research a bit more on the other gold mine for sale in the area, Kankaria-Jara, Albeit much smaller resource estimate, but it would be interesting if there’s any price leak on that one so we can multiply up to get a ballpark…
This article says may 2nd for sale or the bhukia mining license… or another way of saying that is our mining licence..,
Best of luck.. agree that we ain’t remaining news-lite over then next three weeks or so! I hope anyway.
Pk