Member Info for Professor1

Sorry - they have said not affected

Roger - sorry they have said not affected

OK great Mannamead

I hope no one here is invested in KEFI. See link below

https://www.mining.com/web/ethiopia-revokes-licences-of-63-mining-companies/

I hope no one here is invested in KEFI - SEE LINK BELOW

https://www.mining.com/web/ethiopia-revokes-licences-of-63-mining-companies/

I hope no one here is invested in KEFI - see link below

https://www.mining.com/web/ethiopia-revokes-licences-of-63-mining-companies/

Good morning all.

Very positive indeed.

As regards Bhukia, I have the following comments to make. These are just my thoughts (and may turn out to be absolute rubbish in which case I will sincerely apologise):

1) Negotiations are taking place with the Rajasthan govt - " the company had made ENCOURAGING PROGRESS in its discussions with the Govt of Rajasthan". " the company continued its efforts to negotiate an AMICABLE outcome with the Government of Rajasthan " " the company pursued the grant of PL through both COMMERCIAL RESOLUTION and legal".

There is no doubt in my mind that an agreement is about to be reached - the discussions are ongoing via video conferencing. So what would an "amicable outcome " look like?

2) For this, you need to consider the arrangements the company has with Galaxy. In this regard, the company has announced:

a) "The term sheet with Galaxy has been extended, BY MUTUAL AGREEMENT, out to 30 April 2021".

b) The company has also stated "Pursuant to the amendment announced today AND UNLESS FURTHER EXTENDED, the Term Sheet will now terminate on 30 April 2021".

c) Such wording as "UNLESS FURTHER EXTENDED" was not included when the Term Sheet was extended previously - so why include that condition now?

d) It appears as though that Galaxy will not be allowed, under the AMICABLE OUTCOME to be soon reached with the Govt of Rajasthan, to have further equity interest in PAT and the Term Sheet will end on 30 April 2021. In any case, Galaxy MAY only earn additional equity AT IGL's ELECTION.

e) This is where under the "amicable outcome" proposition, the public sector company of the Government of Rajasthan called Rajasthan State Mines and Minerals Limited (RSMML) will come into the equation to carry out the mining activities on our behalf.

f) What sort of interest the Govt of Rajasthan have through "COMMERCIAL RESOLUTION" is anybody's guess. My gut feeling is that RSMML will simply step into the shoes of Galaxy to replace them as our partner going forward. Galaxy will continue to maintain their small holding in our JV co to derive significant value. We might continue to procure other services from them except for the actual mining.

I may be completely wrong here but just my thoughts for your comments.

Catherine was brought into the company as a non- executive director. She is head of legal too in another organisation.

From www2.deloite.com

100 global inspirational women in mining. Catherine's profile on page 8 copied below.

Catherine Apthorpe is Head of Legal and Company
Secretary of Amara Mining, based in London. She joined
Amara after working in private practice for seven years,
gaining experience in the natural resources sector.
For Catherine, moving in-house to a mining company was
a natural progression to gain a more in-depth knowledge
of the industry. At Amara she collaborates with corporate
and legal advisers in London and West Africa on matters
ranging from negotiating commercial contracts to the
process for the application of mining licences.
As Company Secretary, Catherine liaises with the board
of directors, manages the preparation of the board
packs and oversees all matters relating to corporate
governance. She also successfully controls the legal side
of the company with assets in complex jurisdictions.
During her time at Amara, Catherine has had extensive
experience in a number of fundraisings, due diligence
exercises, acquisitions, strategic investments, project
management and award-winning debt financings. She
has also built and relies on a solid understanding of
Francophone law and the judicial systems of Burkina
Faso, Côte d’Ivoire and Sierra Leone.
Catherine is an example of the essential role in house
counsel play in the creation and protection of value in
a mining company. She has helped Amara transition
successfully from explorer to developer to producer in
the most difficult of markets.

Unless there is news of acquisition

Petro

Check out Panthera Resources

Look at all the research posted already.

Waiting for case hearing outcome for the license on 5/1/21 for India project - tier 1 with some 10m ounces plus several projects in west Africa. Watch the video presentstion by ceo and the geologist - in their own words with India permit " add couple of zeros to the market value"

Hi Mickey

Apologies for coming back to your point so late in the day.

- Clause 86 states that every judgement or Order delivered by the Court shall be recorded. In PAT's case, we know this has not been the case on the 08/12/2020.

- However, Clause 86(i) states that "if a supplementary cause-list is necessary for pronouncement of any reserved judgement, it shall be prepared"

I therefore checked the Cause-List section from the drop-down menu of Jodhpur High Court and having filled in the required information, I get the following message (in respect of each of 'Daily' 'Weekly' 'Supplementary' OR 'Regular') " CAUSELIST NOTE IS NOT PREPARED TILL NOW FOR 08/12/2020 ". This is further supported by the " Supplementary Cause-List (FILTERED) which I have managed to obtain and which does not have any notes recorded against it:

Supplementary Causelist (Filtered)
Tuesday Dated : 08/12/2020
Court No : 4
HON'BLE MR. JUSTICE VIJAY BISHNOI
S.No. Case Type/No Title of The Case Name of Advocate
FOR ORDERS
96 C.W. 13521/2018 METAL MINING INDIA PVT. LTD.
STATE OF RAJASTHAN VIKAS BALIA-P
PALLAV SHISODIA-P
V.D. VAISHNAV-P
DINESH PAL SINGH CHARAN-P
ASHOK CHOUDHARY-P
PRAMOD VYAS-P SANDEEP SHAH-R
MUNAWAR NASEEM-R
SANDEEP SHAH-R
900

Therefore, in my honest opinion, all of the above points to the fact they are in discussions with a possible outcome of an agreement between the parties. Once this is reached, the judgement will then be pronounced in the High Court by the judge and subsequently recorded.

Hope this helps.

Judgment and decree

85. Pronouncing of judgment. - (1) After a case has been heard, judgment may be pronounced either at once or on some further date which shall be notified in the Day's List according to these Rules. No other notice to the parties shall be necessary.
(2) Where a case has been heard by two or more Judges and Judgment has been reserved, their judgment or judgments may be pronounced by any one of them. If on such Judge be present, such judgment or judgments may be pronounced by any other Judge.
(3) Where a case has been heard by a single Judge and judgment has been reserved, his judgment may be pronounced, if such Judge be not present, by another Judge.
86. Judgment or order to be recorded. - Every judgment or order delivered by the Court shall be recorded. Where a written judgment or order is delivered, such judgment or order shall form part of the record. Where the judgment or order is delivered orally in open Court, it shall be taken down by a judgment writer and a transcript thereof shall form part of the record.
[(i) If however, a supplementary cause-list is necessary for pronouncement of any reserved judgment, it shall be prepared. On pronouncement of such judgment the order sheet shall be got noted by the parties or their counsel in court or notified by the office to the Advocate concerned.]

MP

Probably the intention was for Newmont to acquire on the cheap. See businesswire news at the time particularly the sentence:

" this is an appropriate time to sell into a strong bid "

https://www.businesswire.com/news/home/20191202005545/en/Newmont-Commits-to-Sale-of-Stake-in-Continental-Gold-to-Generate-260-Million-in-Cash-Proceeds

In the case of OMI, " the Board have determined that we want to be able to choose the outcome rather than having the outcome chosen for us".

"We have the ability to maintain and hold our position in the jv as long as possible to determine that outcome".

MP - thanks. Looking very good here.

Hi Mickey

Great newsflow expected here in the coming days and weeks from our projects. With only 84m shares in issue, expect significant rerate to our market cap.

Hi Ageos

Thanks for your responses.

Coming back to APTA, this has the potential to grow both to the North and the South and looking at the slides of the previous corporate presentation, I can easily see this developing into a potentially 7 to 9 km long strike length area.

As regards permitting process, there is no question that these will come soon. I think Newmont had several things going for them including for instance negotiating with Agnico to participate with them in a JV to really accelerate the project and the financing as well as wait for the restructuring to happen at Omi.

One thing I still have not managed to understand is that although Newmont have the right to maintain the status quo to their strategic equity investment of 19.9% in Omi, they decided to not exercise that right in the recent placing. Does anyone know why this might be the case please? Thanks

https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/an-overview-of-epithermal-gold-deposits/

Hi Ageos

Many thanks for this very informative research.

Am I correct in assuming that 'epithermal type' is good news for us being of higher grade than vms type?

Hi EWT98

Thanks for your post and I also agree with the scenario that you describe. That would be a fantastic result for all of us and lets just hope it turns out to be the case. I remember reading somewhere, and I will have to dig that out, that our land area was described as being "juiced over and over again over time" and might be holding the sweetest spot out of all the other mining areas on that belt.

Sorry - forgot to add - there will be huge synergies to be had and they are not far from OMI