Officers and Director, page-9

Some Q&As

Is the GU renewable? The answer is yes on the production of a full final report to the DNPM after each 50,000 tonnes has been processed.

Will it be automatically be approved? NO


How long can these renewals continue for?
They can be expected to last for;
1) Until a full mining licence is issued. there are many criterias laws and regulations, to a maximum time stipulated on the licence normally 2 or 3 years depending on the mineral that is mined.
or
2) Until the expiry of the first environmental licence.

What time frames for the renewal of the GU?
This depends on the state governmental departments. They verify that all sales taxes paid and compatible with the final report, an average for the renewal is 60 days each state is different.
NB* Most companies do continue extraction and processing during the renewal process. Knowing that it is illegal. Any commodity recovered may only be sold with a valid licence and proof of taxes paid. Prior to renewal approval the company applying will face a mine site inspection.