If all goes according to plan (or at least according to the aspirations on many shareholders here) MAY will soon be establishing ongoing operations in Cuba, as opposed to a (admittedly-multi-year) prospecting/exploration operation. Ongoing operations require contracts/services/negotiations/relationships/etc with service providers, workers, customers, stakeholders, partners and governments, and these can be different to what can occur for short-term activities.
So I am interested in learning about the operations experience of other companies in Cuba (particularly as Cuba has social, political and economic differences from most other jurisdictions) as this may help me understand the issues and challenges that MAY may face, as well as risks and opportunities.
So I seek info about companies operating in Cuba, particularly listed companies as they are required to be somewhat honest about their experiences.
I am not having a lot of luck, but I will share the limited bit I have and hope that others may be able to add to this list (of 1 other!).
1.
Company: Melbana (ASX code MAY)
Market Cap.: AUD$415M on 18/04/22 at sp of 13.5c)
Business: Oil and Gas exploration
Duration in Cuba: approx 4 years
Relationship with Cuban Govt: Allocated territory (previously explored and previously limited production)
Cuban govt financial share: production share and royalty after costs recovered
Company Contribution: Expertise (to review old information and exploration), organisation/management, some finance
Partner: Foreign (Angolan company Sonangol)
Progress: Expertise and Exploration is indicating possible significant production opportunities
2.
Company: Antilles Gold (ASX code AAU)
Market Cap.: AUD$23M on 18/04/22 at sp of 6.6c)
Business: Gold, and other metals
Duration in Cuba: approx 3 years
Relationship with Cuban Govt: Allocated territory (previously explored and previously limited Au production) plus two others
Cuban govt financial share: JV with govt company holding a little over 50%
Partner: Foreign (seeking Chinese investment in development of Gold and Silver mine on first project)
Progress: Expertise and Exploration is indicating possible mine opportunity (yet to get to resource or PFS)
So my only other Cuban find (AAU) is at a somewhat earlier stage compared to MAY, and in a different field, but the structure of its relationships and progress is similar to MAY. But it does not give me any of the operations experience knowledge that I desire!
Can anyone please advise any relevant companies with ongoing operational experience in Cuba?
Disclosure:
When I found AAU a few days ago , I did get sufficiently interested in its story that I bought a few (but I am NOT trying to promote Au etc exploration to you O&G guys)
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