MYL (ASX) Meet the Ministers: Economic response

Originally posted by Kalenn ↑

Meet the Ministers : Myanmar COVID Economic Response

I have sought and received approval to share the below videos of the recent Meet the Ministers: Myanmar video on social media. My thanks to those responsible.

Full one hour zoom video of Austcham meeting with the three government Ministers unedited. From 29 May 2020. Chaired by Chris Hughes, an eminent lawyer in Myanmar. I believe anyone that has the time to view the full video will gain some understanding of the degree to which Myanmar is moving forward.

The following is an excerpt of the above interview, an attempt to capture the flavour of the interview but with specific reference to Myanmar Metals material and a few minutes background.

The actual CERP documentation can be found at https://www.moi.gov.mm/moi:eng/?q=news/28/04/2020/id-21511 I would highlight clause 2.3 and refer people to the end of the brief version of the video above. Please keep in mind the CERP is an economic plan, not a health plan as such. It is titled COVID-19 Economic Relief Plan-CERP

Ten days has now passed so I am hopeful that news will appear soon. I expect we will hear next that the MIC application has been submitted. This application is not submitted by Myanmar Metals or the Bawdwin Joint Venture. It is submitted by the Myanmar government to the MIC when they have ticked all the boxes. It is usually a relatively brief process and concludes with approval to invest, PSA agreements etc. One only goes to the MIC if foreign investments are required in excess of US$50 Million and if the project is ready to move through to the development stage. You do not go to the MIC for an exploration licence.
When listening to the video, either version, you will note that the Minister speaks of Australian mining companies about to be ‘expedited within a few weeks’. It is my understanding that there is only one Australian mining company with a development ready project. Read between the lines
I also note that conditions on the ground in Myanmar are positive and expats and tourists may be able to return sooner rather than later. I personally am extremely keen to return.

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Thanks Kalenn,

Myanmar Govt officials are famously cautious. That the Minister said this, in a forum attended by hundreds of investors and a number of business chambers, is very significant.

I happen to know that even MYL management were a bit surprised by the strength of his statement (and they were pretty optimistic even before the forum).

The champagne has moved from the cellar to the fridge...