I think they thought they had it nailed down...and the MD probably farked up..otherwise why would u release results on your tenements then only to tell the market you have not secured leases?....i mean u dont have to be einstein to work that out.
alternatively, they didnt know what was there and were reluctant to spend th emoney required to keep the lease so they started to back track...as i have pointed out before and NO ONE HAS EVEN READ IT OR COMMENTED ON IT, the legislation is clear on what is required on behalf of the coy and what obligations the government has to allow the leases.
The law in Namibia is not some half baked african tribal law..its modern and they have a good judicial system as 80-85% of all their reveneue comes from the mining industry which means that foreign capital is welcomed and those coys need assurances that the law can be relied upon......
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