Perhaps whats going on is the finish line is now in sight more than ever ; )
FEB 3-6
High Level meetings held during Indaba.
FEB 8-10
There was a 3 day window provided for On-site visits.
FEB 11-14
Allowing time for delegates to travel back home to their international destinations.
Following dates are purely an educated guess
FEB 14-21
Writing of reports and pre-submission of said reports to Funders Investment Review Committee's and their Board of Director
Allowing for a 1 month window
MARCH 14-21
If we have missed an investment committee's meeting dates by a week could be earlier.
If the reports have been submitted a week later for example may be a week later.
MARCH 13 - Half Yearly Accounts Due Date
https://www.asx.com.au/documents/products/company-reporting-dates-2020.pdf
Interesting times ahead with the 13th of March likely to have some funding details included if not sooner.
What should be noted is that the Investment Review Committees have no involvement from WKT or Pareto. They work to their own timetables.
The Investment Review Committees are contained within each of the debt funding organisations.
Key Debt Financiers who have been dealing with Pareto and also in attendance of the high level meeting in Tanzania, will have had very specific questions, concerns and seeking clarity on matters they feel are precious to them being involved with an investment in Tanzania.
They will be looking for words of comfort or letters of comfort from the GoT that addresses their concerns.
They translate their interpretations along with the entire DD processes of the project. In essence they submit to their (debt providers) Investment Review Committee or their (debt providers) Board of Directors for final sign off, a comprehensive report supporting the project and highlighting any concerns and potential work arounds that would derisk their investment.
You do not have these high level meetings unless your a serious contender who will be fully aware and fully briefed on the project and fully aware of the implications of the new mining legislation impacts especially with regards to the international arbitration framework.
These (debt provider) Investment Review Committees in larger organisations work to their own schedules, not Paretos, not WKTs. Depending on the size of these organisations they typically meet monthly.
The removal of the international arbitration has been a red line for a majority of debt providers by default, which limits the pool of potential funders. So any debt providers Pareto are dealing with are most certainly very well aware and sitting at the table so to speak.
Now that the Barrick deal has been legally concluded and finalised this year and their is a new arbitration framework, it should be providing a great deal of comfort to the debt providers that was not there previously.
(20min delay)
