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Thursday, July 13, 2017 4:39:51 PM
Sent to me by an Investor .
My suggestion would be to try to find concrete information from outside the company. I would begin with the BCMM (Bureau du Cadastre Minier de Madagascar)
http://bcmm.mg/en/presentation/
Write a formal business letter, and contact them directly. I have in the past, regarding another company.
The link above has email addresses to the main office, and the individual districts, so you can try to get information from two sources within the bureau.
Look at this link: http://www.prisma-reports.com/reportsb/2017/Madagascar_2017.pdf
Quote: In 2016 it (BCMM - Bureau du Cadastre Minier de Madagascar) issued almost 10,000 licenses.
Ten thousand fvc#!ng licenses! An average of 27+ per day.
Ask them point blank about Exploration Permit #3432 and their supposed backlog of applications and amendments.
Attached is some additional information that may help you get started, assuming you haven't already seen it. They have made enough information public, but have they made ALL of it public?
Things smelled bad to me years ago, when I found out that they executed the first agreement, knowing full well that the permit had already expired during the summer:
From: http://newsstore.smh.com.au/apps/previewDocument.ac?docID=GCA01333623MGY&f=pdf
Quote:
A Joint Venture Agreement with Canadian company Energizer Resources Inc. (EGZ) was executed on 15 December 2011
Quote:
Title Number Permit Type Grant Date Expiry Date
3432 PR 18-Jun-01 17-Jun-11
Quote:
Meanwhile, continuing delays are being encountered in the processing of tenement applications, renewals, and the registration of additional minerals on the permits. If the political situation does not improve there is a risk that the Company may not be able to secure the grant or renewal of tenements in a timely manner, or on satisfactory terms.
Either Malagasy told them not to worry about the renewal, or they took a gamble all by themselves. Some other companies would have walked away. I know I would have.
Also, I think "Stooge" is REALLY on to something with the infomation he has, and that "docket number" that keeps getting deleted. I would ask him PRIVATELY as many questions as possible.
From: http://getfilings.com/sec-filings/160928/Energizer-Resources-Inc_10-K/
Quote:
number of extremely high risks was reduced to two. These risks are:
1. The exploration permit covering the Molo pit expired in 2011 and has yet to be officially renewed (Exploration Permit #3432 is the permit in question).
Quote:
Exploration Permit #3432 is currently held under the name of a subsidiary of Malagasy Minerals called, Mada-Aust Sarl.
Quote:
This current permit expired on August 17, 2011.
Quote:
Energizer continues to diligently work with the Madagascan government to obtain the necessary permits in its name as the country clears its backlog of applications and amendments.
From: http://capmetals.com.au/wp-content/uploads/2016/01/151126_MGY_AGM_Presentation-2.pdf
Quote:
Existing Malagasy assets which are excluded from the transaction are the subsidiaries (both in Madagascar):
• Mada-Aust SARL, which holds the tenements containing the Maniry graphite project in particular, but also other graphite and mineral prospects, together with labradorite mining leases.
• Mining Services SARL, which is a drilling and sample preparation company.
• These companies will be folded into a newly incorporated Mauritian company, to be named Madagascar Graphite Limited, and a new Australian parent, Malagasy Graphite Holdings Ltd.
From: https://www.sec.gov/Archives/edgar/data/1302084/000110262416002120/energizer10q.htm
Quote:
Additionally, this permit expired in 2011 and has not been renewed despite our efforts to do so. The Company has continued to pay taxes and administrative fees in Madagascar with respect to our mining permits including the permit relating to the Molo Graphite Project (although such permit is not in the Company's name). These payments have been acknowledged and accepted by the Madagascar government. Further, in order to advance the Molo Graphite Project, the current permit will need to be converted into an exploration permit in the name of the Company or one of its subsidiaries. The Company cannot provide any assurance as to the timing of the receipt of the required permits.
From: https://www.sec.gov/Archives/edgar/data/1302084/000113717115000165/energizerforms1-06182015.htm
Quote:
our exploration permit expired in 2011 and has not yet been renewed. Failure to renew the exploration permit or convert it into an exploitation permit would prevent the advancement of the Molo project
Thank you,
Angry
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