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6,439 Posts.

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10/11/16

15:28

Post #: 20522774
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Originally posted by Aljini ↑

I agree 100%. Here is my understanding.

This suggests that the capital expenditure will well exceed the $100 million special mining licence requirement.

This suggests that a special mining licence is what we will be applying for. In previous announcements when Volt talks about ML I would assume they are actually referring to a SML. I believe it is semantics.

If this is correct, and id be happy to see some logical and solid thoughts on why it would not be correct, then we will be required to:

1) The minimum local shareholding requirement of a
holder of Special Mining Licence shall be thirty percent of the
total issued and paid up shares.

2) A holder of Special Mining Licence shall list its
shares on a stock exchange within the United Republic in
accordance with the applicable listing rules of the stock
exchange (DSE).

We will be required to meet these obligations within 1 year from the granting of the licence.

This is just my understanding based on the information I have. Please feel free to share any other information that either confirms or contradicts this.

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IMO you are spot on.

VRC Price at posting: 7.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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