The Nam government is likely to make the granting of new mining licences for strategic minerals conditional on granting participation (eg 5-10%) to Epangelo.
But Extract for one appears to be relaxed about this. Any participation would be on commercial terms (ie not a 51% grab as in Zimbabwe).
(The Namibian Economist 7th April: Extract Resources continues to keep the state-owned mining company, along with the Ministry of Mines and Energy in the loop, and according to Galloway they are now waiting for proposals from the state-owned mining company.
"We are keen to work with them, we think it is of benefit for the project in long term," says Galloway. An application for the mining licence from Government is currently pending and the company is optimistic that all would go well".
EXT Price at posting:
$8.46 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)