RE:RE:Nextsource Material MD&AGood to know you have confidence with DNI’s in country abilities. After following this board for the last few years I have felt that your posts seem to contain some type of intimate knowledge and I am thankful you share here.
Dont get me wrong I am by no means a Nextsource pumper, I am a DNI shareholder and continue to accumulate. I do realize that we have the mining permit and are waiting for the Enviromental licence but I like to keep track of the competition especially since they have several similarities. I believe that Next source are also in the system as there application went in prior to the announcement of the moritorium. Please correct me if I am mistaken.
This is is an article from Midi Madagascar March 7 2018 after translation.
BCMM: THE ISSUANCE OF PERMITS STILL SUSPENDED
The Director general of the Madagascar Mining Cadastre Office (BCMM), David Tanuja, has raised that the issuance of mining permits is still suspended. so far we have not received any new requests. And speaking of the situation at the mining sector level, only 10% of licensees are applying for a licence to operate , "he said. And it to follow that any mining operator who wants to be a professional has the obligation to maintain a formal operating plan indicating the evaluation of its production in the coming years, the creation of jobs, the equipment and equipment used as well Investment decision. " This will allow us to assess the revenue that will be collected by the state as well as the benefits that the mining operator could derive from it. The evaluation of the contribution of the operator's mining activities in the local socio-economic development is not left out. The objective is to clean up the sector in partnership with the mining administration in order to avoid speculation of mining permits , concluded the director general of BCMM.
heres a link to a similar article that did not require translation.
https://www.jwflegal.com/news/still-no-new-mining-permits-in-madagascar/ When researching Graphite projects in Madagascar I found Nextsource to have a great resource, but whether they have a permit or not, in my opinion they will never see production due to infrastructure issues. My belief is they also have money problems, cash is low, and it will cost millions to get their graphite to market with many government requirements still to be completed. Maybe some good claims for DNI in the future when the money is rolling in. Now I am getting way to far ahead Of ourselves but good future discussions while we are counting our money.
all this just my opinions. Looking forward to Dans return and news from his trip.
checkmate28 wrote: Terra Nice your doing some real DD. Keep posting any good info you run into. Every little bit counts
Your Quote
Some posters have eluded to the fact that maybe Dan is not familiar with how things work in a Country like Madagascar. Now that CGMs settlement payments depend on the success of DNI getting into operation maybe the expertise of Mr Reid could help point Dan in the right direction.
Terra, I spent about 10 days in Madi with Dan and sometimes Steven Goertz.
I think they have the tools to get around the system. Dan was well accepted by all the officials
and locals as well, anywhere we went.
From the company website
Steven Goertz
Mr. Goertz is the Principal of Hendry Consulting, a consultancy group servicing the resources
and business sectors and is based in Madagascar’s Capital City, Antananarivo.
A (Canadian / Australian) geologist and investor with over 30 years experience in various countries, Mr. Goertz has been based full-time in Madagascar since early 2007. During this period, he has developed an extensive local contact network of professional and administrative personnel within Madagascars government and business communities.
Your Quote During fiscal 2017, the Company applied to the BCMM to have the exploration permit for the Molo Graphite Project converted into a mining permit. Despite repeated assurances by Ministers in the Madagascar government and from BCMM that the Company has followed all the regulations and that the application contained no deficiencies, the BCMM has not yet issued the mining permit to the Company. Our situation does not appear to be unique, since according to the Madagascar Chamber of Mines, the Madagascar government has not granted any new mining permits to any members during the past 18 months.
DNI is in a different situation. They already have the mining permit so were already in the system moving forward. What they are waiting for, is the final environmental approval since they have already sent in and prepared the EIS Environmental Impact Statement for both propertys. These were several hundred page documents. My understanding is that they are very near and I believe as you said, in some way the approval was affected by the arbitration.
Checkmate28