share price pending annoucements, page-29

I just got a reply on an email sent to Simon regarding updates. It looks like we will get an announcement within the next seven days re Jervios (all things good!). Simon said that there had been some delays with the consultant but is back on track.

The Kurultai date is yet to be set but Simon expects this within January. The timing for this is out of Kentor’s control.

The meeting forms part of the necessary course of action the new government is taking to ensure that all stakes holders are part of the process and thereby provide the country with economically, environmentally and socially sustainable industries. The problem in the past is that corrupt governments issued licenses that suited few and inevitably failed once locals and activists were aware.

“The deal will be a four-way agreement between the company, the Kyrgyz government, the local administration, and the local villagers, the KyrTAG news agency reported company spokeswoman Natalya Orlova as saying.
Kyrgyz villagers in Kopuro-Bazar say they are prepared to work with the company”

It is promising for foreign companies as there is a concerted effort to encourage sustainable investment. Recently the government has made legislative changes to improve the processes for mining companies and ensure repeated past mistakes are avoided.

‘BISHKEK, Nov 24 (TCA,BY MARIA LEVINA) -- On November 15, parliamentary hearings were held to discuss the investment situation of the mining industry in Kyrgyzstan.
They’re concerned that the Government does not fulfill its obligations to the mining companies. For example, when issuing licenses to develop fields, the Government does not take into account demands by local people, who increasingly request reimbursements from companies for the caused or expected damage from mining. Mining companies decide not to develop fields and to resell their mining licenses. This has harmful consequences for the economy of Kyrgyzstan.
The hearing participants recommended the Parliament and Government to improve the investment climate for the mining industry. The participants agreed to establish a system of guarantees for certain mining companies, as well as conduct an audit of the national wealth. It was also recommended to appoint to local governments people who are competent in the mining industry. As some deputies have poor knowledge in the mining economy, the Mining Association offered to conduct a training workshop for them.
In order to ensure transparency in the process, it was decided that the exploration and mining should be conducted with the participation of local governments.’
I believe that Kentor is now just formally finalisng the process with the Kurultai. By all other accounts this is our last hurdle, one that will not be rushed!