Jaded, I have been doing a little research of my own re your...

Jaded, I have been doing a little research of my own re your comment here.

Now it is a Mozambique Foreign Investment requirement that locals,residents hold 20% of any project on Mozambique soil.
I'm still waiting for this clause to hit SYR,
as well as watching for the SYR time delay in getting Mine Open approval compared to TON getting a mere explore permit.

The guide I use is the international code book prepared by the lawyers who wrote the code for the government.

You are correct that there is a local ownership clause, however it's not a free carry like the UEMOA code for 10% to government, what it is is that the company makes this available to locals at proper valuation.

Given SYR have an NPV estimated at $1.3 to $1.5 Billion, that's a good guide to use. Or if you take a 6x PE and look at their numbers as a guide, it will be similar. So on your comment on waiting, it would be interesting to see if there is the appetite and ability to tip in $250m + to SYR for this share.

There was similar hot air about MDL years ago when they got their mining license. I understand once there was a valuation done to international standards, local interest quickly disappeared.

Good point though, it seems TON have been very generous indeed.