Just rereading this and $$$$ The Company’s focus is to bring the Papomono block caving mine into production during 2022. As previously reported, the initial construction of the Papomono block caving mine has been completed and has reached the stage where the caving operation can commence. After discussions with the Company and MTV’s senior secured lenders (Anglo American Marketing Limited and a fund managed by Kimura Capital LLP), MTV has chosen to temporarily halt the start of the block caving operation to ensure Papomono is preserved until such time that the Company, MTV, and its senior secured lenders finalize a solution to begin the ramp-up of Papomono as soon as possible.
Discussions with MTV’s senior secured lenders are ongoing, and collectively, the Company, MTV and the senior secured lenders agree that it is in each party’s best interests to ensure Papomono comes into production responsibly, with the full support of all stakeholders and with minimal delay.
The senior secured lenders have stated their continued support of MTV and working with the Company and MTV to ensure mining of Papomono commences and MTV realizes the robust economics from this underground mine. To this end, and as requested by the senior secured lenders, MTV has engaged consultants to undertake a technical optimization study in respect of Papomono. The Company, MTV and the senior secured lenders are aware of the uncertainty that these ongoing discussions are causing for other stakeholders, including the important suppliers, service providers and local community of MTV and reiterate their commitment to restarting operations at Papomono.
The Company and MTV continue to preserve its cash resources during these negotiations and thank all its stakeholders for their continued support and patience.
....so to suffice sadly I missed out on the .04 shares but I have been adding and during this Lull I will continue to add as the lines I have Bolded say all I need to hear at the moment... news will be coming in fairly short order and with agreements in place and mining near to starting, those aren’t peanuts on the Barbie, that’s STEAK! Gonna be a nice windfall for those with patience and a few bucks in the pot..all I can say is “Thar’s Money in Those Hills!” GLTA with the Forsite to buy and hold.. JMO