RE:RE:It's a pure joke........The situation is not like you described it.
Read my previousl posts. The situation is has played out exactly as i've described in my comments so far. I said, if this went to the Namibian courts, games woukd be played & it would get dragged out. And presto!.......guess what happened?
Before being accepted on an international arbitration, a company needs to exhaust the local court possibilities.
I'm no international law lawyer BUT i do have some knowledge of how the system functions. It is debatable if Deep South HAS TO EXAUSST all avenues in the local system before it has the option to go to the international arena. In my 30+ years in investing in these markets, i've many situations where NA mining companies operating in foreign lands bring their dispute DIRECTLY to international settlement courts and bypass the local system entirely. So like i said, it is debatable whether DSM had the option or not. Imo, doing what they did was a complete waste of time & money.
Also, DSM has applied for the review of the decision of the Minister, which is the only way to appeal the decision with the Namibian Constitution. The application has the goal to force the Ministry to reinstate the rights of DSM and re-issue the licence to the company. If this steps works, the company will get the project back.
I think your're getting confused here. Dsm had already asked the Minister of M&E before this went to the courts. That whole process was an even bigger joke than whats taking place here with the high courts. The Ministry;s review should have taken a few weeks to fully examine the case and make a neutral & unbias decision based on concrete facts. Unfortunately the Minister's mind was already made up even before Dsm sked for the review to take place, resulting in the whole process taking 48hres and Dsm being plain out flately denied renewal. IE....it was a complete farce!
If DSM eventually goes into an international arbitration, it will be for a cash compensation because those treaties doe not have a ruling capacity in the country to reinstate rights but only to get cash compensations.
This a mute point, whether Dsm gets cash or the rights to the asset, the important point here is that DSM gets fully compensated for the loss & any financial harm done to them during this ordeal.Again, i'm no international lawyer so i don't know what the full powers of the international courts are.
Therefore, despite your thinking it seems clear that DSM follows the right path.
Read my posts friend. Imo, i think it was a GRAVE mistake to take this to the local courts, especially if DSM had the option to go to international settle courts. And it seems to be headed that way.
Also, you need to remember that the licence has been blocked by the court and the Ministry cannot grant the licence to anyone else.
Again with the Ministry? Are you that blind on what's taking place here? For f's sakes, you only need to see what happened at the beginning of the year BEFORE all this took place to understand where this was heading. When DSM got the OK to continue drlling on the property but STILL no word on their property rights being renwed. Why did they issue Dsm the drlling permits but complete silence on getting their rights renewed? Infact Mr. Leveille actually had asked them point blank why they did this. Their answer, "Well, we wanted you to continue spending money & working on the property so additional information about the property would be logged on their site.........BEFORE we kick you out!
Really man.....wake up!
God luck & God speed