Swiss, DYL and TOE dealt with the BEE issue by sharing 10% of...

Swiss,

DYL and TOE dealt with the BEE issue by sharing 10% of the project with a BEE partner. Wonder why MLS haven't bothered to mention it? Maybe because the renewal was begun before BEE was introduced, or maybe MLS are about to lose 10% IF they win the case and IF they get the renewals and IF there is anything of value at depth.

"Since late March any company applying for renewal of EPLs is being informed by the Ministry of Mines and Energy (MME) of a requirement for involvement of a BEE partner before renewals will be granted."

Joint ASX Release 28 May 2009
Toro Energy and Deep Yellow Form a JV
Exploring for Uranium in Namibia
There is to be an accelerated uranium exploration campaign by two Australian explorers in the African nation of Namibia under a joint venture agreement announced today by Toro Energy Limited (ASX: TOE “Toro”) and Deep Yellow Limited (ASX: DYL “DYL”). The joint venture, the first between the two companies in Africa will see DYL (through their wholly owned Namibian subsidiary Reptile Mineral Resources and Exploration (Proprietary) Limited (Reptile)) spend A$3.5 million over the next two and a half years on three Exclusive Prospecting Licences (EPLs) held by Toro’s Namibian subsidiary Nova Energy Namibia (Proprietary) Limited (Nova). Reptile will then be entitled to gain a 65% share of the Joint Venture. Toro will retain 25% with Namibian Black Economic Empowerment (BEE) Company, Sixzone Investments Proprietary Limited, holding a 10% share. Since late March any company applying for renewal of EPLs is being informed by the Ministry of Mines and Energy (MME) of a requirement for involvement of a BEE partner before renewals will be granted.