WHERE ARE WE AT ...., page-6

Seriously don't know what happens when I copy/paste from Word documents to HotCopper .. .. ..

Grammar, word spacing goes to poo but also I missed the paragraph under the "so yeah/nah ....."

Should have read .....
IMO, I do not think that the Company will be operating under the new 2023 Mining Code, and we should definitely take them through the courts if they indeed try, more of a {expletive deleted} you, middle finger statement, line in the sand, hopefully our negotiators are better than theirs.
They should also provide extra tax credits in lieu of the additional taxes the Company was charged outside the agreements.

30% ownership if they did, on the assumption they take the 10% free carry and the full 20% option that is applicable under the new code, but the "minimum" 10% free carry (Article 78) is a real concern, as there is no cap.

One for accountants? Financials and accounting does my head in ... consolidated, not consolidated, written down, carried over, carried forward, blah blah
Article 79 reads;
When for a year of activity, a net accounting profit is recorded by the General Assembly of the operating company, the latter votes for the payment of a priority dividend to the State, equal to 10% of said profit and only reduced by the allocation to legal reserves in accordance with the applicable law in respect to the free participation.
~ does that mean profit before the accounts do their magic and then we don't have a profit, lol?

The other point I am trying to make is the obvious monetary disadvantage the 2023 code will bring;
~ what long term cost would the government paying for any percent taken under the option to an additional 20%, given that the formula changes from the agreed market value to a valuation method.

I don't actually disagree with the innovations in the new mining code to boost the country, it is somewhat apparent that all the taxes / royalties that the State collected has not been going back to where is should have.

I get that Lithium is a new commodity and I don't think they really understand the potential magnitude of revenue Lithium could provide, and if they are going to take this sort of "fast money grab" versus a long term revenue streams they can forget about Mali being a West African Lithium processing hub if foreign investors are put through the ringer.

The IMF report has highlighted the public wage bill, from 2018 - 2022 it has increase by 13%, this in turn has put a strain on health, education and social security progress and has also lead to the increase in extreme poverty and food insecurity not helped by the ECOWAS sanctions that caused 15,000t of fertiliser not being able to come into the country as well as a parasite that affected the cotton export, FYI - cotton is a major export and a vital source of income for 25% of the population.

The 2023 Mining Code in its entirety is mind boggling .. .. .. .. including losing half your exploration tenement when renewing the licence.

The predominant purpose of the initial post is to highlight what the Company may be dealing with, and maybe the negotiations are indeed complex!

IMO, Commission rulings dependant, we could be trading but only if the main items are clarified (Bolded red in initial post) before going beck to the ASX for re-quotation to trading,
~ the Local Content Law can be sorted on the run .. .. ..

Not much I or anyone else can do but wait .......

cheers