will start by saying I am very much hoping for news of an...

will start by saying I am very much hoping for news of an extension of the license

black hat opinion of recent volume is a pump for those that took place in the CR at $0.005 so they can exit prior to license expiry and effectively PCL shutting the doors for good

rationale is based on:

• PCL is now logistically unable to satisfy retention requirement for the license - impossible to arrange, shoot and process 3D with the time left
• Namibian government may prefer opening the license to new bidding
• New bidding would give the Namibian govt the ability to source best possible offers direct from super majors rather than PCL choosing based on farm-out terms
• Super majors may prefer this option of dealing direct with the govt as removes the need for small cap JVPs that may slow future development timelines