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Ann: Shareholder Update, page-133

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SonicBlast

12,773 Posts.

39

07/12/17

22:33

Post #: 29469119
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Originally posted by iskandarca ↑

Guys read through the Law summary posted by ajm65. Luso has submitted the mining license application in haste, a day before first injunction hearing. The application must contain some serious documents like EIA ( which NLI commenced in 4Q 2016 and was due in Q3 2017). Also PFS or scoping study is required, in addition to numerious other techincals like mining and metallurgical plans and results etc. Appointment and sign off from techical director is also required. The mining license approval will take around 6 months, but other parties can legally challenge the application by Luso. I think Luso is smart enough at this stage to come to reasonable terms and walk away with cash or/and shares very soon.
I understand why Luso suddenly defaulted on its contract with NLI. Luso had a flagship asset called Marrancos project where it was hoping to do a 70-30 JV with Metgold and perhaps Centerra, but that option agreement was terminated by Metgold in April/May 2017 after exploration potential of the tenement was found not promissing. What are your thoughts on this esoj?

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The tenement that NLI has just taken up?
You are correct in the other matter.

NLI Price at posting: 6.4¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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