Thanks Ozind, a good summary and from what I can recall 100%...

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Nazgouhl

236 Posts.

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31/07/23

15:27

Post #: 69083143
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Originally posted by Ozind: ↑

Listened to the webinar and I am confident of the situation. Some of the key notes are as follows :

The Chair – Bronwyn has spent nearly 5 years for us to get this award. She is very firm that the efforts won’t be wasted.
It is not an appeal process but seeking annulment of the award.
There are very rigid conditions to seek annulment of the award and as per the Chair, there doesn’t seem like Tanzania has any valid reasons other than they don’t like the judgement.
The process could take around 6 months in the best scenario or 9-12 months in the worst scenario, but she doesn’t expect this to take long based on the original award being granted very quickly and unanimously. That in itself validates the confidence that they don’t have much ground to seek annulment.
Whilst generally no enforcement may be possible during the annulment appeal, there are grounds for the same and the company will seek that judgement where they can also proceed with enforcement options.
There is also no way that Tanzania can drag or delay the process for their convenience as the timeline will be determined by the World Bank.
She touched base on the aircraft arrest if required and that is an option she will keep if required.
When award is received, the company wishes to return a fair share of the proceeding back to the SH. She mentioned her view that she doesn’t prefer to have too much money held in the bank to avoid any cashcow take over.
The SA project is very promising and the rest of the funds will be used to fast track the project.
The company has received many offers for buying out the award but she really doesn’t favour them for the reasons that they are discounted and also she is very confident about getting the enforcement for a much larger amount.

GLTAH..

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Thanks Ozind, a good summary and from what I can recall 100% accurate...cheers.
IDA Price at posting: 6.5¢ Sentiment: Buy Disclosure: Held
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Thanks Ozind, a good summary and from what I can recall 100%...

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