"Tanzanian government issued regulations making it compulsory for each holder of a special mining license to sell 30% of its company shares,via an initial public offering, on a stock exchange in Tanzania itself, by 23 August 2017."
But Magnis yet to acknowledge that 30% DSE IPO laws apply to them or any subsids.
Appears to be at odds with ASX continuous disclosure if DSE listing compliance weeks away.
Maybe they considered the MDA they negotiated for SML protected them from IPO legislation in some way?
However, in June 2017, Minister of Industry, Trade and Investment, Mr Charles Mwijage, specifically named Uranex Tanzania Ltd as a firm that must comply
With latest new laws giving Tanz. Gov power to dispute MDA's, seems Magnis suspension, whilst directly related to three new acts, may also be tied in with IPO legislation.
Be extremely surprised when suspension lifted if Magnis 30% IPO on DSE not addressed as only few weeks remaining by that point.
cheers
MNS Price at posting:
48.0¢ Sentiment: Sell Disclosure: Not Held
(20min delay)