Hi Gumboots , perhaps if anyone has any concerns over this public announcement by the Tanzanian Authorities and how it sits with the following statement from MNS announcement on 9th March 2018 they could try talking to some of the Independant directors, it's a shame Peter resigned yesterday as he would have been a good choice of contact with his background and experience with other organisations that are totally independant of MNS.
Anyway, here is that statement I was referring to
"The SEZ under the jurisdiction of the Department of Industry, Trade and Investment, governs the operation of the graphite processing plant and is not subject to the changes in the mining legislation promulgated last year. "
Oh and I better include a link to the announcement as well, here it is
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4wm8yhLzv/p37LFiGug=
And then how this holds up with the Public Notice from the authorities which very clearly refers to Magnis as well as others who may wish to operate within the Nachu SEZ (not sure what companies are wanting to though)
"I
t should be clearly understood that, MAGNIS or any other entity that, wishes to engage in the processing of graphite and other mineral ores within NACHU SEZ; or within any other Special Economic Zone licensed by EPZA, shall at all times be subject to compliance with applicable provisions of the laws and regulations which govern mineral resources extraction and processing in the United Republic of Tanzania.
So MNS seems to say the operation of graphite processing plant is not subject to mining law changes yet the Public notice clearly states that if Magnis wishes to engage in the processing of graphite within the zone that it needs to comply at all times with the laws and regulations governing the extraction of mineral resources, one would assume this would be the Mining Laws that MNS announcement seems to say they are not subject to
As I say, perhaps some may want to contact the Independant Directors for clarification, it's a shame Peter resigned with immediate effect yesterday, he would have been my pick to discuss the issue with independently.
All just IMHO though and as always DYOR
(20min delay)