“The holder of a mining license shall list at least 20 per cent of equity in Kenya within three years after the commencement of production. The minimum local shareholding for a holder of a mining license shall be obtained through a public offer in accordance with the provisions of the legislation relating to capital markets and the listing rules of disallowed,’’
Any insights on this?
My guess/take:
It looks like it could be another capital raise via Kenya which some may look unfavourably towards... Being the optimist I am, capital raise = further mine extensions in Kenya while improving the foothold that Base currently has as the flagship company... if you remember, Base said "It's exciting to be able to shape a mining industry". Giving the locals a slice of the pie is a good long-term play in my opinion.
BSE Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
