Atlantic has just dropped a huge confirmation clue around mining...

Atlantic has just dropped a huge confirmation clue around mining licence progress..

At some point in time the mining licence will progress sufficiently through the Ghanian approval processes that the Ghanian Government will take a 10% stake in the project as provided for within their legislation. At least one website notes that this 10% stake is subject to an agreement between the Minister and the mining company. If a 10% transfer has occurred, there should be an agreement between Atlantic and the Mining Minister. IMO giving up this 10% stake means significant progress in progressing the mining licence.

The table below appears within this quarterly. As at 31 December 2022 Barari DV Ghana limited was 100% owned. The text of the quarterly however noted that Barari DV Ghana Ltd was now "majority-owned". The text of the quarterly is repeated. At least Australian shareholders appear to have missed this reference. In today's announcement Atlantic note that Barari DV Ghana Ltd is now 90% owned.

Who has the other 10% and what does that mean?

And in today's announcement:


And from the December quarterly:




And from a website discussing the mining processes at Ghana:
In brief: mining rights and title in Ghana - Lexology
https://www.lexology.com/library/detail.aspx?g=54a148a3-4b80-4e86-8a76-c20dbb0e9c85