RE: Says it all7 Jan 2021 11:13
Interesting comparison you've posted on twitter, thanks for sharing
Drilling doesn't appear to be the issue, its lab time in SA for the results that has held us up with Blyvoor (due to Covid). Not sure where they will get the Tanz samples analysed but that has to be item that will take the longest in current situation.
Blyvoor financing
30/11 - The current status towards meeting each of the above-mentioned funding conditions are as follows:
1. With regard to points 1 and 2 above; the technical reports referenced here are in an advanced stage of preparation and final draft versions have already been received for review and will be available for release shortly to the potential funding parties;
2. Prospective funders have commenced due diligence investigations, with completion subject to receipt of the above referred technical reports which would underpin the due diligence exercise; and
3. The joint venture partners have already agreed to proceed with the incorporation of the unincorporated Blyvoor Joint Venture and are currently negotiating the final terms and conditions of incorporation which will ensure due alignment with the parties' rights and interests as captured under the existing unincorporated version of the Blyvoor Joint Venture.
The existing Blyvoor Joint Venture Agreement will remain in place until the Blyvoor Joint Venture has been incorporated as detailed above.
15/ 12 - The restated SAMREC Mineral Resource, an updated Mineral Resource and Mineral Reserve statement are key components / inputs to the SAMREC compliant CPR and SAMVAL valuation report, which is expected shortly following completion of the restated Mineral Resource. The SAMREC CPR and SAMVAL valuation reports are critical deliverables towards the finalisation of the funding process as elaborated on in the RNS dated 30 November 2020.
22/12 - 'The final draft versions of the SAMRAC CPR and SAMVAL valuation report referred to above, was received on 18 December 2020 and are now under review before the final version of said reports will be delivered.'
So technical reports surely have been delivered by now (1) which permits the finalising of DD (2) which surely cant be a long exercise which leaves (3) the incorporation of the unincorporated Blyvoor Joint Venture and they were currently negotiating the final terms and conditions of incorporation before Christmas. Only when these are complate can "Funding agreement(s) with the various prospective funder(s) " can be agreed.
So this week, next week, next month, sometime soon, imminent, next year or never! Take your pick
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