In my limited understanding, Sney has better relations in place for dealing with the african institutions. And that Allied was somehow being blocked from moving forward. Please anyone correct me if this is false. Obviously this is a simplified version. But Allied moved out of the way so that SNEY could come in and get the job done.
The best way to look at what happened here is to see it as Allied Mining being merged into SNEY. Allied has simply just gone from being a private entity to a public entity. We have just experienced a reverse merger without the company doing a reverse split by way of acquisition. SNEY first acquired the properties from a company, then they brought over the management from that company into SNEY.
This was the quickest and less time consuming process to do for bringing Allied Mining from private to public. This was actually an outstanding idea and way of doing it with far less headaches as a reverse merger process would have been.
The news of bringing in the new management, which was key Allied Mining management personnel, was important with SNEY. This move confirms that SNEY now have a TEAM in place to deal with the bureaucracy to get the approvals done in Africa that other companies could not get approved. This move facilitates the approval process that would be needed to obtain permits, licenses, etc. to mine in Africa.
The trust is greater now that all parties involved will benefit and not just the outsiders coming in with the expertise to mine the property. Putting the Allied Mining guys in key management positions here in SNEY confirms that everyone really does have everyone best interest at heart from all related parties.
After reading that link above, you will see that nobody ever said anything bad about Allied Mining so we should really be fine with our new management. There seems to be some disgruntle feelings about Steve Parent from something that happened in the past that’s not related to SNEY and this venture. Again, Steve Parent is just the IR guy and not in any key management position as what was recently PR-ed.
As from what was confirmed, the Allied Mining management is basically humanitarians and not miners. This is why they brought the more experienced guys on board from behind the scenes to help with mining the operations, especially since some of them have help some mines to become operational in the past. Some were unsuccessful before because of not knowing what they were doing. They realized this and brought on help as we know they definitely have something there because the NI 43-101 confirms it.
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