Having Semega as the West African manager for LLL is not optimal, when dealing with the Junta.
He was the manager in West Africa for Firefinch, so it's no wonder that everyone in Mali, including the government and the mining journalists and politicians and media, see no difference between LLL and FFX - "it's a VERY strategic MISTAKE by Simon", and one that potentially illustrates West African political and business naivety.
Look at his bio, Semega is very closely aligned with France and the USA.
The Junta hate France and USA, so potentially Semega has no influence in Mali anymore.
The old regime is gone (at least for the immediate future), and Semega with it.
As you've so poignantly illustrated, Semega was educated in France, and the Mali government has now refused visa's to anyone from France, and has demanded the French forces leave Mali.
Semega also worked for the USA for 6 years, and the USA has recently sanctioned Mali's defense minister and other politicians and ministers. The Junta hates the USA, and those associated with it.
And Semega works for Firefinch (and possibly still does - has anyone asked if he's still on the payroll?), and that Firefinch name is toxic in the Morila region of Mali.
Quote (from Leo)
"... Seydou Semega. General Manager West Africa. Mr Semega oversees the company's expanding footprint in West Africa, with responsibility for both building and optimising an extensive logistics network that covers Mali, Cote d'Ivoire and potentially other countries in West Africa. He also manages governmental and other key stakeholder matters ... "
Semega is probably a good man, he was appointed originally way-back by Birimian Gold, but is he the right man for Leo in today's Junta environment. The Junta have shunned anyone associated with France or the USA.
Semega is also the current senior mine geologist for Hummingbird Resources. How can he therefore spend much time on Leo government and PR and mining media relations and education.
Leo has some significant holes in it's organizational structure and makeup, that need to be repaired. Like Firefinch, it seems to have (potentially) temporarily dropped the ball, because it's principle decision making people are NOT located in-country, where they MUST be living, given the current changing political landscape in the country. This poses a significant risk to shareholders, though one that can be managed, if the leadership of Leo are willing to recognize it, and solve the issues in a logical and common sense fashion.
Leo should have more executive management from West Perth located on-the-ground PERMANENTLY and living in Mali, given the evolving mining environment in the country, because to not do so, in my opinion, is corporate negligence, and tantamount to doing business blindfolded.
The management of Leo MUST surely do better for this project to be successful.
Gw
LLL Price at posting:
$1.14 Sentiment: None Disclosure: Held
(20min delay)