1. BFS has been worked on in the background, absolutely. Has not been finalised yet or issued to market. The company is defintely not starting from scratch regarding this, so hopefully this can be something that can be finalised in the next couple of months.
2. Yes, SML in place and SEZ in place. These were issued prior to legislation changes, so a renewed confirmation of these agreements would be a significantly positive step in confirming the GOT position on the project. The major concern/consideration is the issuing of 16% free-carried interest with Uranex Tanzania. This has not been confirmed yet. Expectation is this does not apply to MTT SEZ operations.
In additional, legislation still requires a domestic Tanzanian stock listing and % local ownership. Blackrock received an exemption for this, though nothing has been confirmed with MNS at this stage. This too relates to Uranex Tanzania mining operations, not MTT.
3. Finance is probably the biggest hurdle. Construction and engineering has been an ongoing process so quite a bit of the work regarding planning would be ready to go...money is the biggest factor.
So, in conclusion, everything is rolling and on the way, though none of the criteria has been fully met yet. Would love to hear updated commitment from Tanzania ASAP and then a release of the updated BFS. This should not take a significantly long period of time (assuming Tanzania come to the table and realise the economic potential of the project). I'm giving (hoping for) 2-6 months (realistically) to be acheived.
AIMO DYOR
MNS Price at posting:
46.3¢ Sentiment: None Disclosure: Held
(20min delay)