Ann: Balama Production Improvements, page-54

Jawdropper, regardless of mining company when dealing with overseas governments  regarding approvals time for final approval is not the same as one would expect in Australia.

In the case of SYR grant of mining licence was 23/12/13

And then there was The next step of Mining agreement approved by Mozambique government 30/8/17

When the following formed part of announcement

Inaccordance with ordinary administrative procedures, the main legal terms of theMining Agreement will now be gazetted and the Agreement signed by Twigg and theMinister of Mineral Resources and Energy

(on behalfof Government of the Republic of Mozambique)

in thecoming weeks. It will then be presented to the

Administrative Court

in Mozambique forsanctioning after which it will bebinding and enforceable

. The Companywill announce the key commercial terms of the Mining Agreement once it is signedand becomes binding and enforceable.

So legatities fiinally  sorted came

Binding mining agreement 27/9/18

Now we know that  whilst finance was being discussed by SYR to progress development , directors stated  the terms offered were too onerous and restrictive, and they opted for equity finance.

All I can say is  that companies without a strong balance sheet  attempting to obtain favourable finance in current climate may be disappointed. 

And who knows what Mozambique government will determine re commercial terms in the final wash up, or  the commercial terms of any financier.

Whilst our share price is being smashed , for whatever reason, the future looks pretty good to me.