31st March feels a long way away..
Today
On the exploitation licence itself, a decree was published from a meeting of the Council of Ministers of the Republic of Togo held on 18 October 2019, permitting SGM to undertake large scale mining at the Nayega manganese project. In preparation for the issue of the licence, as set out above, SGM has been converted to a Societe Anonyme, and the formal grant of the licence is expected in time to commence production in the current quarter, to 31 March 2020.
The Council of Ministers ('CoM') of the Republic of Togo convened on the 18th October where a decree was adopted and published granting a license for large-scale exploitation of the manganese deposit at Nayega to SGM. Keras and SGM have subsequently met with the Togolese Ministry of Mines and are pleased to announce that the ancillary documentation related to the Exploitation Permit is expected to be concluded by year end allowing commercial production to commence in the first quarter of 2020.
KRS RNS ON BULK SAMPLE RESULTS.
“The mine is currently on care and maintenance pending the granting of an Exploitation Permit at which point operations will recommence at a rate of approximately 6,500 tonnes per month of saleable +38% Mn ore.
Discussions are ongoing with potential off-takers to provide both development funding to expand the existing operational infrastructure and for an off-take agreement for future ore produced at Nayega.”
Admittedly the percentage is lower than AIS ore, but we more than will make up for that in volume!!
This is a MASSIVE BUY!
This is from his website.. DRY METRIC TONNES BABY!!
January 29, 2020
Vancouver, British Columbia – A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the “Company” or “AIS”) announces that it has received payment for the first 292 DMT (“dry metric tonnes”) of Manganese fines sold in November 2019. There was no discrepancy between the China Import Quarantine (“CIQ”) and Veritas Peru certificate of chemical analysis. The buyer paid the benchmark price of US$3.70 per DMTU and the final grade was 42.75% Mn.
AIS has sourced very high quality manganese from its Zambian supplier which will be sold on a CIF basis from Dar Es Salaam Port in Tanzania. The ore was independently assayed by our Chinese buyer with an assay of 53.66% Mn with low iron, silica and aluminum. We will move to contracts after the Chinese New Year.
We have 1,000 tonnes of 42% manganese fines ready for sale in Peru and we have negotiated an acceptable price for 30,000 tonnes of 42% Mn from Brazil. We have sent term sheets to a number of buyers we have been communicating with..
Oh.. boring..
Same here.. :) https://www.privateislandsonline.com/
Freudian slip by the MM’s?
Exactly what I was thinking!! All things being well, we’ll be producing 20,000 tpm by year end!
https://mobile.reuters.com/article/amp/idUSKBN20E1WL?__twitter_impression=true
This is all working out very very nicely!!
o Corporate restructuring of SGM, which is a requirement of the draft Mining Convention agreed between SGM and the Republic of Togo ('RoT') and part of the documentation required in the permitting process
Stipulation of the final signing off was a corporate restructuring, and change in the share scheme for management.
Gassingbe will get back in, he’s got the military on his side. He has promised in his campaign to create 500,000 new jobs. So this mine is happening. Sad that the dictatorship will continue and a fair election won’t take place. Slight concern that the 100% Togolese running of the mine is part of the deal, but I assume that won’t affect the top management and ownership..
It’s a pretty sure thing Gassingbe will get back in.
3 days time. Could be good timing for news?
Apple delays causing drop on Asian markets. Could this trigger the next correction?