Exploration Permit 92 Update (EP92)???, page-2

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Safety1st

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08/06/17

10:42

Post #: 25168212
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Originally posted by serena ↑

Let us start with this most important thread

The board is required to update us on the Exploration Permit 92 (EP92). Hope the update will come soon in June 2017

Extract from quarterly report on 20th April 2017
EP92 which holds the Mbalam deposit is due to expire on 23 July 2017. The renewal for the permit has now reached its limit pursuant to the 2010 mining code. The Cameroon Government is supportive of finding a method for Sundance to maintain ownership over the land that holds the Mbalam deposit. The following alternatives are being considered:
 An extension of the existing EP92 Exploration Permit and Convention long stop date for a further two years;
 A modification of the boundaries of EP92 to create a new, smaller Exploration Permit which still covers the Ore Sundance has identified, and covers continuous tenure over the land required for the rail and mine infrastructure. Sundance could then relinquish some of the tenure area to allow others to explore in the area; or
 A granting of the Mining Permit application already in place which is permissible under the existing Mining Code.
Meetings will occur between Sundance and the Cameroon Government over the coming quarter to find an acceptable way forward.

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What happens if none of the above occurs and EP92 runs out?

SDL Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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