InvestorsHub Logo

saprolities

03/08/18 11:28 PM

#473 RE: BryanC #472

The Vohitsara license is currently a PRE. That cleverly worded news release relates to the PRE being submitted to the BCMM for conversion to a PE. That's NOT a PE that's an application only. The PE is fully reliant on the EIE and CSR and with the reported disputes DNI has had with the locals, that will be the biggest hurdle facing them. Although DNI does not have a PE licence over its Vohitsara graphite Project it's a different story with Marofody. It has a PE8904 licence. From the news release you quoted :
it allows DNI to move to commercial production at its option, subject to completion / fulfillment of the requisite environmental impact and social responsibility ("EIE" & "CSR") studies and obligations.
The latest news out of the BCMM is that the issuance of mining permits is still suspended. That's not going to work well in DNI's favor either. IMO, the arbitration will be well over before DNI see a PE for Vohitsara.