In the latest ERN Annual Financial Report, it states the amounts that they (still?) need to spend on their 5 Namibian tenements as part of their leasing agreements. For the 5 tenements it totalled around $2.5 mill.
Has the figure that MLS needed to spend on its tenement ever been released, and could this be the problem with the renewal if they have not spent enough?
PS I do not hold, but watch closely as they would be well worth a punt if they can get the lease renewed.
Armour
namibia, page-2
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