Mine Ownership?HASSAÏ VMS PROJECT
PHASE 1
The initial development stage at the Hassaï mine in Sudan involves the upgrade of the present heap
leach plant to Carbon-In-Leach (“CIL”) technology. On May 16, 2011, La Mancha announced positive
results of its Definitive Feasibility Study. For additional information, please refer to the May 16, 2011,
press release titled “Positive Feasibility Study for the Hassaï Mine”, available on La Mancha’s website
at www.lamancha.ca and through SEDAR at www.sedar.com.
La Mancha has set two conditions to be met before this first phase of the project can move forward:
a) an agreement on the ownership of the property with its partners and b) conclusion of a proper
financing structure for the project. With respect to the agreement on the Hassaï’ ownership structure,
the political transition underway in Khartoum following the independence of South Sudan has not
allowed the Company to make significant progress since August. The upcoming appointment of the
government should allow significant discussions between La Mancha and its Sudanese partner to
resume in the coming weeks. In terms of financing, the project’s funding gap has considerably
decreased in light of the significant strengthening of both La Mancha’s and its Sudanese subsidiary’s
balance sheets, over the course of the past nine months. The Company anticipates that an 18-month
detailed engineering and construction period will be required from the time an agreement is signed
with the Sudanese partner until the start of production.
This is from sedar from Nov. 2011 - can someone tell me if they know if the yellow highlighted area above is solved?