ALR puts in their announcement on the second page “represents a deal which cannot be replicated.”& Altair CEO Fahim Ahmad's Comment also says, “it virtually makes it impossible for any party to come in a put together a contiguous block to the scale we have” and “It’s a deal which simply can’t be replicated”
On page 9 it says “Currently, Guyana’s permits for mineral exploration and development are broken up into fragmented 0.5 to 5km2 blocks which are all held by private citizens. Hence, to establish a large contiguous land package for exploration and development, presents a near impossible task in liaising and dealing with countless private citizens – in hopes of getting all parties to agree on similar terms.”
I found this in the G2 Mineral Resource report, which shows how small these permits are. The bottom half of pink area for G2 ($800M+ MC) is 47km2 and I count 12 permits, which are held by 3 separate individuals in their Resource Report. = Average 4 permits per individual.
So, to putting together 592km2 land package like ALR's Greater Oko Project, assuming each permit averages 3km2 would mean doing a deal for 197 ‘licenses’ or permits.
Taking the G2 numbers (4 permits per individual) that would mean dealing with at least 49 individual parties and private citizens, getting a hold of them and then having them agree to sell their properties on similar terms.
Having negotiated deals in the past, even having two companies can be very difficult, let alone doing this successfully with 49 private citizens instead of companies…that I don’t want to imagine. And it makes sense why ALR says its an impossible task for any other Company to do this.
THE EXCEPTION TO THIS RULE, APPEARS TO BE THE GROUP ALR DID THE DEAL WITH , ADAMANTIUM EXPLORATION INC. I’ve researched into who’s behind this, and it appears its an entity of a very wealthy family in Guyana, who are rumoured to be the largest license holders in the country. So looks like, ALR DIDN'T HAVE TO DEAL WITH “49 GROUPS ”, INSTEAD ALR DID ONE DEAL WITH THE LARGEST MINING GROUP IN GUYANA AND TOOK CONTROL OF THIS MASSIVE 592Km2 CONTIGUOUS PROJECT.
GREATER OKO CURRENTLY IS 4 TO 5x THE COMBINED SIZE OF BOTH G2'S OKO PROJECT AND GMIN'S OKO WEST PROJECT.
Very interesting deal they’ve managed here.
All IMO & Please DYOR
(20min delay)