I wrote to the company, asking whether it was true that their contract had been canceled and that management knew the project was doomed, as a certain poster recently asserted.
The response as follows:
"Put simply, any reports that Tiger’s DRC contracts have been cancelled are not correct.
You will be aware of the recent review of mining contracts in the DRC by a specially appointed Commission. That Commission has submitted its report to the Minister of Mines. No timeframe has been provided for the release of the final report, although the Minister of Mines has stated that it is expected that, after all irregularities have been corrected, the great majority of companies currently in the DRC will remain in the country for the long term.
Whilst we cannot guarantee the outcome of the Commission review process, we have received positive comments from the Commission representatives who visited site on the significant work we have already done, and we are continuing our activities for fast-tracking development at the Kipoi project. "
TGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
