Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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Finally the results of the latest MLC meeting have been released.
Don't shoot the messenger but apparently two of the licence applications have been rejected
33403-HQ-LML Rejected -19/07/2024 appeal window
33404-HQ-LML Rejected- 19/07/2024 appeal window
https://www.mmmd.gov.zm/?p=2849
I have written to the company but I haven't had a reply as yet. I would expect the decision to be appealed.
23004-HQ-LEL has been deferred
I wonder why rejected SH? How material is this to us in the grand scheme of things?
It won't affect the drilling but it would have been good to get them approved.
They are complex applications so it could be for a number of reasons. Hopefully it is just another slight delay in the process. The JV doesn't need the Mining Licence yet but they will need it before any mine is built.
AIMO
According to the website the licenses are
Anglo American JV License Areas
Location: Zambia
Areas under license:19906-HQ-LEL, 23004-HQ-LEL, 23005-HQ-LEL, 28700-HQ-LEL
Small_Holding. Where do you get the information about licenses:
33403-HQ-LML Rejected -19/07/2024 appeal window
33404-HQ-LML Rejected- 19/07/2024 appeal window
The link is in my original post.
The LEL's are the Large Scale Exploration Licences. The LML's are the Large Scale Mining Licence applications that are in the process of being considered.
Christ, what a shambles
Thanks for sharing smallholding, I managed to get out with just a small loss before it crashed.
I daresay they’ll probably appeal and sort it out, but I can’t see AA committing to a drill in the meantime, so it’s largely about Botswana now. I’m sure it’ll bounce hard but the company appear untrustworthy and unprofessional.
Bought more. Gobbled up like tex mex dips. Lucky have some funds.
Also bought more-Dumb or Inspired, time will tell.
I've added some more here too..
Arcm have know about this soon after the decision and well before small holding found out.. and them/ their NOMAD understood this to be material to the s/p they would have had to RNS about this days back .. they haven't RNS'd, so I'm guessing this fall is well over done... but that's just my guess of course
Wasn't it published this afternoon?
Two licences were rejected out of how many? Where exactly is the proof of this? Sounds like more manipulation of the share price as for Eurasia Mining last week. Might be wrong though!
I Bought some. Anglo is not going to stop drilling because of an initial rejection of two applications. Surely they will appeal the decision. In the meantime, good drilling results should do the talking.
According to the ARC website; Areas under license:19906-HQ-LEL, 23004-HQ-LEL, 23005-HQ-LEL, 28700-HQ-LEL. I can only find one of them on the ministry site its been deferred not rejected.
The issue could very well be associated with the Cadestre system itself and not be accurate!
They have been having an issue with the Cadastre system for a few months now with inaccurate reporting on licenses.. they have had sight of this problem and are potentially still working on resolving it.
This previous release from the ministry notified that over 2600 mining and non mining licenses had been cancelled for non compliance reasons cited.
https://www.mmmd.gov.zm/?p=2787
Haven’t checked out the ARCM licenses as not a holder but I would not be too concerned if is related and the problems are persisting.
Problems with the cadestre system likely stem from its transition from manual to online applications.
https://www.mmmd.gov.zm/?p=2654
Have seen cancellations citing non compliance due to late pegging notices on advanced exploration projects!
Worth pointing out, the suspension is a result of the market volatility caused by the release and not the implications of the content directly.
From his fine contributions on the xtr.l board, I believe howezap 'knows his onions'
Imho & DYOR
@Bodruncie "Making a big decision publicly without informing the affected parties. Assigning a drilling licence but then denying a mining licence"
Is that what you really think??? Bet you wouldnt put your life on that would you?
Fulmar, I find it hard to belive that you still defend Nick, Remy etc.
IMO, to continue to dismiss any negative news or alternative opinions as untrue, malicious and now a storm in a tra cup shows a great deal of naivety in your part. I honestly think you need to start considering alternative opinions as you seem to have become blinkered regarding ARCM.
Yes, it's very troubling to think that people can be so blind to the realities staring them in the face, presumably because they are overly invested in ARCM and desperate for it to work out. Surely the time has come to clean house and remove a leadership team which simply isn't up to the task. Sadly, with no CEO and only an "Executive Chairman" (who seems to spend more time telling interviewers what an experienced and professional team of executives they have running Arc than actually achieving anything tangible for shareholders) the usual checks and balances on the BOD don't seem to work at Arc. So I guess over the coming years there will simply be a transfer of wealth from the company's cash assets (ie shareholder assets) to the vastly overpaid leadership. But apparently that is something to celebrate?
MT-the "storm in a teacup" was posted (tongue in cheek) because it is an opinion that has been used by many re the present scenario. Your comments say more to me about you not understanding what just happened, than me not willing to accept negative news. It wasn't NEWS but rumour and a mistake....! Re my naivety , you may be right and time will tell, but at present absolutely nothing has changed regarding the fundamentals of this investment for me. If anything with progression at Virgo things have improved We are drilling an amazingly good looking asset in Botswana, we have plenty of cash in the bank and we await news of Zambian drilling beginning once again. The JV would not have happened without the present BoD for many, many reasons ,and an administration error by AAL or the MoM (or both) changes nothing fundamentally.
Alternative opinions are welcome and sometimes refreshing but as you well know the bulk on here are from either insane bitter individuals or "financially motivated" posters. I'm of for a naïve coffee :-)) GLA
Fullers you are doing your bits in bigstyle so why not stop making a tool of yourself and lay low for a few weeks??
I'm surprised Mattk6's post below - 8.07am - has only gotten 25 tick ups so far.
Don't you let them upset you TNR,22 of those likes are me with all my other ID's :-)
Ignore the nasty boys
PS just get a life doing something positive FFS......!