Tuesday, June 20, 2017 3:44:20 PM
Not according to the company.
So, according to the company, they has been paying taxes and fees to an expired permit, that is not even in their name, for several years, with the hope that it eventually gets straightened out "in due course".
I contacted them several times, years ago, trying to get a truthful response from them, and they always dodged any of my questions when they pertained to the permit status.
That told me all I needed to know.
For one, I do not buy the story that "Madagascar is difficult to do business in" that they have been telling others.
Madagascar may not be (ever) a "first-world" country, but mining is important to their economy, and the BCMM is well-staffed, and mostly competent.
No way in hell it takes this many years for them to straighten out an expired permit, and do a name change. Sorry.
Caveat emptor!
As far as DNI Metals is concerned, you can parse words all you want, and try to do a syntactic analysis of the PR, but the end-result is the same:
DNI possesses clear title to their property, and they have an Exploitation Permit (PE) which gives them an exclusive right to exploit authorized minerals, and to continue exploration and research of such minerals, inside the perimeters during the period of validity of the permit.
This permit allows DNI to commercialize product extracted from the premises. Period.
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