Just further to my last. In the discussion that was held with Amakutuwa at the Commission of Mines in May 2008 Amakutuwa was told by the Mines Department they were not going to transfer the EPL's back to him. However MLS did offer to pay the original terms of settlement for the EPL's to Amakutuwa to make him go away which was about $30,000 and some shares. He wanted $10 million plus to retain 90% interest of tenement which obviously was just ridiculous. The company was continuously told by the Mines Department that the delays with renewal of the EPL's were purely administrative but they have no way on knowing if that was true. MLS were just about to lauch legal action against the Namibian mines dept over the delay with the EPL's when the notice of the legal action was launched by Amakutuwa, so that did not proceed. In addition to the current appeal MLS have also launched a defamation case against Amakutuwa.
MLS Price at posting:
1.3¢ Sentiment: None Disclosure: Held
