Ann: Cleansing Prospectus, page-9

Hmmm, smoke before fire?

Are they going to sue MCC over their shenanigans on BFS?
And, recall, 'the Chinese', attempted to sneak in the back door on some of our tenements last year. Fixed apparently, but talk of ICC arbitration makes me wonder if someone is still putting money into certain pockets. For context, I have another entity experiencing this technique at the moment. Seems China Inc is absolutely desperate for access to raw commodities, but prefer not to transact in western ways. They're calling in their belt and road strategies all over Africa in their own particular style.

"This is not a slam dunk" appears to me to be an understatement


(h) Legal Actions
The Company has entered into an agreement with a third party where the interests of the Company may be adversely affected by a third party’s failure to perform or deliver. The Company may become involved in legal proceedings in order to protect its interests or to otherwise assert its rights. Further, third parties may seek to challenge or undermine the rights of the Company to one or more of its tenements in Cameroon however, the Company is confident that it can overcome any such challenge based on both its agreement with the Government which gives the Company rights to international arbitration which agreement is in the form of a Cahier de Charge and the provisions of the Cameroon Mining Code.

Second issue I have with this prospectus is the number of shares still to be issued, based on milestones being met

5m to Altus, and 50 mill to Serge. Both were mentioned in the last AR as being likely to be issued, but no mention of them in this prospectus.

With all these still to come, SOI is going to be ~1 billion, and then we need to fund the build/buy the train-set.

I know the prospectus is a requirement and a formality, but have to say it make depressing reading.....