According to the ANN:
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"Togo Phosphate Tender
The Company remains on the short-list for the world-class Togo Phosphate Project in West Africa and has recently submitted the final stage tender documents for review by the Government of Togo.
In January, the Company announced that it had signed two separate MOU’s with experienced phosphate companies that added substantial value to the Balamara consortium. The two parties concerned were Minemakers Limited (“MAK”) and Deepak Fertilizers and Petrochemicals Limited (“Deepak”).
Deepak, for its own reasons, has since withdrawn from the consortium of parties assembled by Balamara.
Balamara remains in discussions with several other major organisations to identify a substantial new partner to play a wider role within the consortium covering not only phosphoric acid production, but also other key areas including off-take, infrastructure and
project funding."
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Good news - we are still in the running, confirmed above.
Confusing - we have submitted final stage tender documents, these must have been submitted without Deepak. I wonder if there is a caveat that we will update the tender with the third party, and if so what the deadline is (obviously, I have no idea as there is currently no information).
Interesting - Deepak left for its own reasons, that wording would suggest it is not at the request of the Togo govn but due to Deepak itself.
I'm happy we are still in the running, though very nervous about what the result will be, hopefully we win at least the mining component, which really shouldn't be impacted by Deepak leaving, and as intimated in the past Togo may have a mix and match strategy for picking who wins which parts of the tender.
High drama, hopefully big results.
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