Running discussion on SP, page-83064

I didn’t get a letter, but I know someone who did and they had the update call with Nigel. If I know what was said, you can bet our rivals and DRC officials know too. A sketchy email followed up with one-on-one calls wasn't a great strategy, information was always going to leak. In any case, why should a few select holders get critical updates while the rest are kept in the dark? That wouldn’t fly if we were still on the ASX. There could have been an update to all holders, along with a restricted (min & max purchase) CR for anyone who wanted to participate.

The letter from the MoM claiming no communication happened looks like an attempt to mess up Nigel’s plans to raise money.

People saying "all the way with ICSID" might not realize what they’re in for. It’s not just about waiting for the initial judgment, there will be inevitable appeals from the DRC if they lose. Look at what happened with Pakistan; they used every option available, which is why it dragged on for over 10 years. They appealed to annul the judgment, reduce it, and even to stop the acquisition of state assets. In the end, Pakistan didn't pay the massive cash compensation awarded by ICSID anyway. Instead, a settlement was reached that allowed TCC to access the original mine, after all that!

Sundance Resources mining license was cancelled, and they ended up in arbitration. Even though they felt they had a strong case, they knew a judgment would be years away, so they were more than happy to take a settlement in return for ceasing all legal action.

Financing the ICSID journey is going to need very deep pockets, and there’s no guarantee we’ll see a pay-out in the end. If we can’t get the mining license reinstated and sell the project (the ideal option), settling and walking away, like Sundance did, might be our next best bet of getting any return.