To obtain an "exploitation" license (i.e. a license to mine) 10%...

To obtain an "exploitation" license (i.e. a license to mine) 10% of the project is required to be relinquished to the Senegalese government. An additional 5% royalty to the Senegalese government is required. This is the price to pay to operate in Sengal.

At least that is my interpretation of the jurisdictional constraints. This is based on review of a number Mako, Resolute and Bararri announcements.

Can anyone divulge, how 10% ownership of a project actually works? is this effectively a 15% royalty? Does 10% ownership suggest additional bureaucracy in mine operations and decision making?

Anyone follow the Barrari story? They were delisted early 2022. I haven't deciphered how yet except it seems management was garbage, funding issues and something about covid delays. Barrari also has an amazing resource in Sengal like Chesser (with a ridiculous IRR of >100%). So as we all know a great project and resource doesn't necessarily equate to success.

Also i don't buy the idea that Barrick is considering a TO of CHZ imminently. They will only do it if their mill is hungry which is like a decade away (?). I do appreciate its a good time in the cycle to consolidate though...

Apologies for being a negative nancy. I am just hyper focused on minimizing my downside.