My thoughts are...
1 - Kyrgyz / China
There are reportedly restrictions on how much money can leave china without approval from the central bank. $5m USD per quarter before you need high level approval.
https://www.ft.com/content/2511fa56-b5f8-11e6-ba85-95d1533d9a62
I'm much happier to see $5M USD followed by the balance in another quarter than wait for approval. Apparently there are long wait times with many transactions pending approval. This marries up perfectly with the announcement received today and what I've noticed with offtake agreements and prepayments with other companies.
2 - VPG / Resolute
It is going to take a while, I knew when I read this in the last quarterly:
"While the license transfer process is progressing, the large number of licenses involved and complex legal process means that the Transaction will take some time to complete and is dependent on resolving legal and taxation issues. Manas expects to provide further advice on the Transaction progress in November."
Resolving legal and taxation issues in Tanzania will simply take time... things can be quite slow and deliberate there. Have spent a bit of time there myself and dread the slowness from the moment I hit the airport. Also current govt. is quite keen on recovering revenue.
The DEAL, page-2
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