RE:Video call with ceo Translated by google translator
Corporate governance doubts cleared. Until April 21st 2021 ELP. 90 days in advance Dsm filled more than a 100 pages report. Feedback from the Minister for submission of the 2-year financial Plan.. Was presented including the current drilling program, PFS and testing plant.
Likewise, everything has been delivered punctually and satisfactorily so far. Delivered last 2 yrs as part of the exploration estimate plan (2m of 2.6m cad - rest postponed to current drill Programm). Quarterly reports to administration always ok.
Then a the shock of the rejected EPL. FCO is familiar to Minister at a distant level. Call.
Minister confirmed that he does not had all the documents submitted by dsm. Signed recommendation from administration.
Stakeholders such as cooperation with the university and landowners have already turned to the ministry. Monday meeting. Precedent case.
Unclear whether the application has to be submitted again (2 hours work) or the old one will be rolled out. CEO expects clarification. Best case 2 weeks; worst case 2 months.
Probable NR after meeting early next week. Has to be signed by IIROC.
In the meantime, DSM does not belong to anything. Also no claim to anything. This has not yet existed in Namibia. DSM has the knowledge of deposit; not easy to substitute with a snap.
Of course, he is very confident that the misunderstanding will be cleared up soon. Drilling permit was issued at the end of January after the submission Drilling was approved until after the application deadline, plus bulk samples taken until nov approved. Silly?!
According ceo chaos because of Covid and other large copper projects in Namibia
DYODD
peter
HuberPeter wrote: Had today a 30m video call with ceo. Corporate governance worry has been cleared. EPL topic has been described and adressed to my satisfaction. At this MC still a hold. A risky one ...
peter