No idea, but I'd expect it to be ratified by July this year.The...

No idea, but I'd expect it to be ratified by July this year.

The world bank have invested a lot of money into Madagascar, and they expect for things to be implemented that will help ensure the money gets paid back as per the terms of the loans (I have no idea what those terms are), and revenues from mining are the biggest income generating exports that I'd imagine would have effectively underwritten the loans.

Once the mining code is ratified, there'd still be an application and approvals process that we'd need to navigate. Given there haven't been any large scale greenfield mining projects approved recently, I've got no idea how long approvals could take.

I would be extremely happy with April 2024 (3 months away) for the mining code passing into law, but don't know if the company could apply for the mining licence straight away, or if they'd need to wait for the studies to be completed.

I'd like to think they could / would apply for the mining licence in say June 2024, and then raise to go mining in April 2025, off the back off the DFS being published in November / December 2024.

Anyways, who knows.