MNS magnis energy technologies ltd

0.00%

4.2¢

The lender was wound up in 2016 and deregistered, so who knows...

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15,210 Posts.

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23/05/25

19:28

Post #: 79169474
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Originally posted by TopSahara: ↑

"""• the principal amount owing to the Incoming Lender was agreed at $5.5 million
• interest will accrue at 4.5% per month payable on maturity, and
• maturity date of 16 October 2024, subsequently extended to 15 May 2026.

50% a year, Hmmmmm not bad if you are the lender.

In May 2025, the Tanzanian Minister of Minerals, Hon Anthony Mavunde, announced that on 14 April 2025 the government
issued Notices of Breach to 95 large- and medium-scale mining companies for alleged violations of licence conditions. The
Notices of Breach were issued with a deadline for responses of 13 May 2025. “If they have any justifications, they should
submit them. We will verify and, if satisfied, we’ll lift the restrictions. If not, we will revoke their licences in accordance with
the Mining Act, Chapter 123, particularly Section 63, which governs the issuance and revocation of mining licences. The
law clearly states that once granted a licence, work must begin within 18 months,” said Mr Mavunde.""""

Just when you think this could not get are worse they post this.

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The lender was wound up in 2016 and deregistered, so who knows how that will work out lol

MNS Price at posting: 4.2¢ Sentiment: None Disclosure: Not Held
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The lender was wound up in 2016 and deregistered, so who knows...

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