Ann: Entitlement Issue Closed, page-25

Yes, I can't add too much to what MAP stated previously. It looks like it might be a possibility though.

One point to keep in mind is that, as noted in this recent French news report, back in 2014 Variscan's mining permits in Brittany were signed off by the then French Minister of the Economy, and you can guess who that was.

Anyway, it looks a bit incongruous that the same guy who gave them the green light to explore for minerals in these areas of Brittany has now pulled out the rug out from under their feet without offering so much as a dime.

Keep in mind that the results of the exploration work that has been conducted by Variscan in these areas is now in the public realm, and so conceivably, in ten or fifteen years from now, another mining company looking at the same area might be able to take advantage of the work already carried out by Variscan.

So, logically, you would think it would be a reasonable expectation that the company should be reimbursed for the cost of their exploration expenditure in the Brittany region over the past five years.

The politics involved is a complication. A recent poll suggested that Emmanuel Macron is no longer 'Mr. Popular' in France, and politicians flagging in popularity have a tendency to target anyone or anything they think is even less popular than themselves, which in the case of Macron, seems to includes smart-aleck teenagers as well as controversial Australian mining companies.

So my suspicion is that, although compensation may be warranted, the issue is a sensitive one for the French government given that Variscan is under a bit of a cloud in parts of France.