I must have missed the announcement about Timis Mining Corp SL being shut down.
http://awoko.org/2015/11/20/sierra-...-collection-timis-corporation-slaa-shut-down/
Sierra Leone News: As NRA intensifies tax collection …Timis Corporation, SLAA shut down
"Speaking to the Corporate Affairs Manager, Mr Mohamed Bangura said Timis Mining Corporation owes NRA the sum of Le14.6 billion....Because they failed to respond to our several communications, we have now taken the bull by the horn and close down all institutions that have failed to meet their tax obligation."
Or maybe CFE just didn't know ....oh but hang on we sublet them their office in SL and seems like they didn't even pay the rent:
"At the Timis Mining Corporation, it was discovered that they only had a one room office as reports states that Cape Lambert that sublette them are fed up with them because they have failed to meet their responsibility, and so the entire floor that was rented out to them has been taken, leaving them with just a room."
Times Mining owe CFE $10 +Million I would of thought them being shut down for Tax evasion would have been of interest to shareholders a maybe even a teeny bit price sensitive .
I don't understand why the last CFE quarterly goes on about Timis Mining SL Limited like they are still in business
'The Company wishes to update Shareholders regarding the royalty agreement with Timis Mining Corporation SL Limited and Timis Mining Corporation Limited (collectively Timis Mining).
As previously announced, Cape Lambert will receive a royalty of US$2 per tonne of iron concentrate (Royalty) exported from the Timis Marampa Iron Ore Mine (Mine), which is payable on a quarterly basis. The Royalty of US$2 per tonne is payable on production of 24mt from the Mine.
The Mine remains on care and maintenance due to the currently low iron ore price.
Repayment of the bridging finance is yet to be received by the Company. Cape Lambert is in communication with Timis Mining to understand when it is anticipated that the Mine will re- commence production and be in a position to repay the bridging finance."
Well hello! I understand Timis Mining Corporation SL Limited have been shut down so there isn't any money from royalties or bridging finance coming.
I don't understand why I have to get my updates from the Sierra Leone newspapers?
Are these reports true ?
What is going on in SL?
Don't we have a right to know?
