I think Mali will end up settling the $US417 BS tax bill with...

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manny100

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2169

13/05/24

19:48

Post #: 73804110
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Originally posted by camban: ↑

On that note (Barrick) it will be interesting to see how the rest of the industry’s reaction plays out to what has happened here, especially after the hosing down “expropriation” got during recent investor calls by other miners operating in the region. If this wasn’t expropriation by stonewall and proxy, I don’t know what is.

My inclination is they’ll sympathise privately with Hay, but indirectly infer in public forums if asked that this was unsurprisingly FFX-specific, and a bit of bad luck contained solely to Leo with no wider precedent for others. If that proves correct then for Mali, we’ve been the whipping boy. But if it’s a sign of more of what’s to come then they’ll want to have their legal teams scrambling all over their structural setups now, and trying to front foot shareholders on “orderly transitions” to new codes or voluntary agreements with Govt etc. I doubt we’ll see ANY of them enter into partnerships with companies from Malian junta-aligned nations tho.

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I think Mali will end up settling the $US417 BS tax bill with Barrick before it goes to Court just to move on. If the Mali Tax Court ruled the BS tax bill valid then if Barrick refused to pay in full then Mali could cancel their permit. Their is a provision in Mali mining law for cancelling the permits of those unfit to hold a license. So Mali wins no matter what.
Just like our case Barrick will fight it until the risks get to high then settle.
I am very happy to be out of Mali.

LLL Price at posting: 50.5¢ Sentiment: Hold Disclosure: Held
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