RE: The Flanks27 Jul 2020 08:39
The following is lifted from a Mining Maven article of 5th Feb 2019
"Operating in Russia
You might expect operating in Russia could be problematic, but Schaffalitzky tells us this is simply not true.
“We have successfully applied for and have been granted two mining licences on two areas in Russia. We have been operating since 1996 in Russia, exploring and now mining, and at no stage have we had any obstacles relating to the jurisdiction.
The only delaying factor is a bureaucratic one.
We have a certain amount of reserves to mine this year but really want to extend our active reserves further and that required another report to the government, and then the government, in this case at local level, becomes the logjam.”
Schaffalitzky also told us that he feels the market can underestimate how long bureaucratic processes can take when progressing an asset through to production. This is particularly the case when aspiring to develop larger projects such as Monchetundra."
It's just a waiting game........ GLA