CLE 0.00% 0.1¢ cyclone metals limited

This from LM's LSE ann. on monday."This operational review has...

  1. 1,943 Posts.
    This from LM's LSE ann. on monday.

    "This operational review has been provided to coincide with the analyst and institutional investor site visit to the Marampa project, which is taking place this week in Sierra Leone. The site visit presentation will be uploaded to the London Mining website in conjunction with the site visit."

    (continues with update of the resources,mine,plant & logistics)

    also of interest

    Mining Lease Agreement ("MLA")

    A review of the MLA comprising fiscal incentives for Phase 1 by the Sierra Leone Government ("GoSL") is near to conclusion. Current discussions with the Committee indicate there should be no material change to the project value as a result of any modifications to the MLA and associated fiscal incentive package and hence the investment programme remains unchanged.

    London Mining has also engaged in discussions with the Committee to accelerate the review that was to take place after five years and to agree now what the fiscal regime will be for the five years from 2015. This will provide certainty on the financial modelling, in particular for the expansion of Phase 1 to incorporate the full effect of the weathered ore and the Phase 2 development. It is expected that the resulting package for the second five years should not differ materially from fiscal incentives either awarded recently to other mining companies or from those that have previously been negotiated with companies already having been through this review process. The Company supports efforts to increase transparency in the mining industry in Sierra Leone, and GoSL remains very supportive of London Mining's production and investment plans.

    http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10769463

 
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