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18:50
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Originally posted by BLim89:
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Agree with you Berserk and I luckily have traded around WAF in a similar fashion to you, so I have a small position remaining.On July 18 , the leadership of Burkina Faso greenlighted amendments to the Mining Code enabling the state to increase share in mining companies to 15%. Moreover, a number of new policies are being introduced, including that mining firms attract local investors and refine up to 50% of crude materials produced inside the country." on the Company's interpretation of the text in the New Code this will only apply to new projects at the time of grant of an initial mining licence." It is difficult to rely on managements "interpretation" here (especially with the track record of other ASX co's dealings in Africa recently).existing mining permits issued under the 2015 mining code may be reduced to five years ." There is a chance this license could be decreased to 5 years, and it appears management is cognisant of this: "If under the New Code a reduction in the term of the mining licences were to apply to Kiaka and Toega then, WAF is well placed to manage the licence renewal process as we have done previously."
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Great post. Couldn't agree more.
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