I know details can be confusing, and that's not a slam, I'm being honest, permits are a complicated thing.
However, it clearly states in DNI's press release, and I quote:
"The obtaining of a commercial PE marked a significant milestone for DNI in Madagascar, as it allows DNI to move to commercial production at its option, subject to completion / fulfillment of the requisite environmental impact and social responsibility ("EIE" & "CSR") studies and obligations."
So the final hurdle in commencing operation of a mine is the EIE, which as previously stated, will be released in the next couple weeks. The PE is all but finalized with this last permit being the final step. It clearly stated that in the press releases, splitting hairs does no one any good.
I get it, everyone is upset this JV feel through. Shareholders of Cougar are pissed, as are shareholders of DNI. We could all be celebrating the completion of a PEA by Cougar, and the start of construction of a mine by now, but it didn't happen. Instead we have accusations, with zero proof provided of what happened.
I went to an event with Dan for DNI recently and asked him about this, and he was just as honest about the permit then as he was in the press release I'm quoting above. If I were a shareholder in Cougar I'd be demanding the "proof" that Randal has about these incarcerations of staff in the fall of 2017, and why it took months later for these "facts" to be shared with shareholders.
This will go to arbitration, and I believe that the judgement will result in some compensation for Cougar for what work was put in. But no PEA was provided, not enough staff nor the proper type of drill were on site over the months, and after multiple extensions Cougar failed their end of the bargain. Cougar will most likely not receive any percent of Vohitsara, simply due to the fact they did not earn the buy in as per the agreement. That's how arbitration works, unless their is a smoking gun of evidence we as shareholders have not seen yet.
That said, in all my time investing in stocks, I've never seen a CEO come onto another companies bullboard and commit possible slander against that company. Randall either has incredible balls and a stack of proof, or he's up sheet's creek with no paddles, and a 200k plus salary sized hole in his boat with nothing to show for it. As a DNI shareholder I'd be more scared if he released a press release outlining the claims instead of interjecting himself into a chat board. Time will tell, but given DNI's legal team are excepting payment in shares....
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