trading halt, page-49

Hi Crespo - yes of course, GTE is not a one trick pony, the SP would be hammered hard but it would not be game over by any means. However the JV was finally legally completed back in Nov as follows, so I do not think it is likely:

"The company is also pleased to report that all the Foundation Agreements have now been finalised and the JV Company has been re-registered with the appropriate Government agencies to reflect the changes in ownership.
The Foundation Agreements include the Company Charter, which sets out the rules in which the company is to be managed, and the Shareholders Agreement, which sets out the obligations of the shareholders to each other. Furthermore both the Executive and Supervisory Board members have been appointed. This concludes all the legal and administrative work related to the Spasskaya JV and the JV Company management can now focus fully on operational matters. "


It was at this point that GTE assumed management control of the JV - perhaps it is a question of asserting this that is now the issue. We know what GTE's Development Strategy is as follows from 31/1/14 Ann:

Development Strategy The Company believes the Hadji copper deposit has excellent development potential due to its geological location within a recognized copper belt and proximity to local infrastructure. The regional center of the Karagandy Province is Karagandy, which is located 60 km to the west of the deposit. It is the fourth most populous city in Kazakhstan and an established mining centre that services numerous mining operations in the region. The Prospect area is easily accessed via unsealed roads and the closest railway station is located 20 km to the northeast of the deposit in the Shehenkara village. Approximately 5 km north of the deposit there is a high-voltage power line (110kW) with a sub-station in Shehenkara.
GTE believes that the Spasskaya Copper Project has the potential to become a significant copper producer in its own right. The development objective is to define resources from multiple prospects within the project area. These copper resources would potentially contribute both high-grade and lower grade feedstock from multiple mines to a centralized processing facility.
The current strategy is to evaluate the high priority copper prospects identified from historical data with confirmatory drilling and, if successful advance to resource development drilling. GTE is extremely pleased with these latest results from the Hadji copper prospect as they indicate the deposits excellent development potential not only as part of a multi-mine copper operation but also as a stand-alone high-grade copper operation




Ideally, GTE need TKS to be down with this 100% although in fact it is our call now. Careful diplomacy by Jordan I am sure will pull this off.