Permit Risk, page-13

Good research there. Keep it coming. I've gotta go look further into some of your points now.

Regarding the permits:

BEM country manager (the guy on the ground in Madagascar) Jean Luc Marquetoux discusses some of the issues you have raised here in his other role:





https://translate.google.com/translate?hl=en&sl=fr&u=https://www.newsmada.com/2020/10/23/jean-luc-marquetoux-president-de-la-chambre-des-mines-de-madagascar-le-processus-en-cours-de-reforme-du-code-minier-ne-nous-apparait-pas-judicieux/&prev=search&pto=aue

I guess what I'm getting at is that BEM is lucky enough to have "on the pulse" knowledge of where this is heading through Jean Luc. We've just raised capital successfully and stated the purpose of the raise - and I will trust that BEM will use those funds as stated. Perhaps this means the permit renewal stalemate is coming to an end.

"My view is that currently this is valued on the high side." - I can't agree with that one - I think we are currently valued on the low side. Under $25m....?.... I think $50m minimum

Back to the diggings I go

GLTAH