South African court confirmed by way of call that MSR/MRC has not submitted the Motivation for SEA to the minister of teh environment by the court ordered deadline date of July 13 2022. I spoke to a lawyer in South Africa and it seems that the law states there may be a 10 day Grace period permitted in some circumstances where the court order relates to an action (and not a payment or fine). The 10th day, if a grace period was allowed, was Saturday todays date.
So what we now have, is an advocacy group who caused the court order to be raised, now being in the position power because if MRC does anything or says anything that is not agreeable to them, then it is aocmpletely at the CER advice groups discretion to now lodge a writ against MRC for Contempt of Court.
If this is done, then; a) how will it effect recently given approvals, given that these were issued largely based on MRC/MSR committing separately to a series of conditions that the DMR wanted before they would lift the section 94 notices. Will the approvals now be withdrawn or a new section notice issued two halt activity?
b) there is currently still also an appeal against the recent approvals that the court and DMR are still to rule on
c) will the section 94 notices now be reinstated
d) why did they not submit by the deadline given that they had several, months to do so and gave their commitment to do so on company letter head?
Is this the type of management that shareholders want? That they give commitments on your behalf essentially and then do not keep them and act as though they never had any intention of doing so at extreme risk to the companies operations.
If CER advocacy group is out out of joint in anyway, the literally now have the right to lodge a contempt of court writ.
The management, and largely legal counsel have exposed teh company to extremely high risk.
Where is also all the metallurgical work for improvements along in the pipeline? Has anything, just one thing, being implemented or is it all hogwash and just an example of people trying to get stripes on their shoulders by using a company to achieve their own private Idaho gains?
It is parasitic and disgraceful.
We are no exposed to a contempt of court that could lead to massive issues that could effect operations to the point of shut down.
Or is it possible that an advocate environment group, which is actual also an experienced law firm experienced in matters of state legislature will simply let MSR/MRC off the hook?
I doubt and and believe they will make an example of it.
The company should actually go into a halt whilst it reviews the situation and then makes a statement about how they will deal with the breach of court order.
MRC Price at posting:
8.3¢ Sentiment: None Disclosure: Held