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Waiting for the extension, page-2

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serena

10,370 Posts.

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13/02/18

10:44

Post #: 31014067
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Originally posted by serena ↑

Are we waiting for two things?: (1) the extension to the Convention and; (2) a minimum of 3 years on the title to the tenure over the area covered by the previous EP92? For point no. 1, it has been indicated in the agreement on 31 July 2017, a further 6 month extension will be given if Sundance can show progress on funding the Project either by itself or with a creditable partner. It does not state that the extension requires the Parliament approval. I may interpret it wrongly. Let us discuss it.

I suggest that everyone spends time to go through the 196-page Mbalam Convention.

On page 47, point 8.2 (a) and (c) of the Mbalam Convention, it looks like that the power of the renewal of the Exploitation Permit is given to state i.e., government.

On page 47 of the Mbalam Convention, it states:

Quoted:

8.2
Renewal of the Exploitation Permit and of the Exploitation Lease

a) Upon expiry of the initial validity period of the Exploitation Permit, the Mine Project Company may apply for. in accordance with Article 66 of the Mining Code Implementing Decree, at least twenty-four (24) months prior to its expiry date, the renewal of the Exploitation Permit for a maximum period of ten (10) years. The Exploitation Permit may subsequently be renewed by maximum successive periods of ten (10) years...

...

(c) The state agrees that it will not unreasonably deny or delay any properly completed and submitted application for the renewal of the Exploitation Permit.

Unquoted

Future is uncertain. Uncertainty could mean high risk or great opportunity. Timing can make all the difference.

This is not an advice. Gain or loss is in your own hands.

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This thread is relevant to faithful holders who are now waiting for the extension to the convention.

SDL Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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