The debt was to Gunvor, more about them lending big $ in Africa in below article (1.25 bil profit in 2023/ 2.5 bil the year before) They win big contracts and have had execs in Africa charged with bribery. The company paid $100 mil fine after being accused of corruption in 2019 in Congo, similar issues in the Ivory coast. They own multiple refineries worldwide and are already heavily entrenched in Namibia . https://www.rigzone.com/news/wire/gunvor_funded_gabons_acquisition_of_assala-26-jun-2024-177209-article/
In an election year the Government was always going to push hard to recover those lost funds. Ian made a mistake when he put a timeline on our expectations for news....a lesson learned i suspect. We are at the mercy of Namcor and ill include an interesting article about Namcor workplace politics https://www.namibian.com.na/comalie-drugs-case-struck-off-court-roll/
PCL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
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