For those who are interested in reading MMCS case, there is a specific old thread with wealthy posts by
mineralised and fellow posters.
- The way that MMCS entered into the JV with Cominiere would land them in hot water in court (and I assume those in charge of Cominiere at the time)
- They were notified in advance by both Ministry of Mines / Cominiere to get on with the work or lose the license by Sept 16 2016.
- MMCS don't have a good reputation and are known as wheeler/dealers and not serious investors, the word "scammer" was used
- They've haven't done any real work and zero drill holes, no results to show for the work they say they've done
I also compared satellite images from 2010 to 2017 and can't see any difference at all. The most glaring issue being you would need to drain the Kitolo pit of water to do properly spaced resource estimated drilling. You can put together a chemistry set and call it a pilot plant if you like, but you can't fake drill holes.
Actions of MMCS to retain the license look a bit "sharky".
The most direct path to retain the rights they believe they have is with the DRC govt and Cominiere. The contract document also states it is under DRC law.
1. The DRC mining registrar cancelled licence PE12202 and rejected a subsequent appeal.
2.
The newly created licence PR13359 is currently owned by Cominiere.
3.
Cominiere have given AVZ warranties/representations that the new licence is valid.
4. AVZ has an agreement to become a part owner of that new licence after the due diligence period.
https://hotcopper.com.au/posts/23278460/single
https://hotcopper.com.au/posts/23257955/single
ASX announcement released on 31 July 2017:
"
MMCS is no longer seeking a declaration as to its validity of PE12202 or a declaration that Manomin has exclusive right to carry on mining activities in connection with the area covered by the Manomin Tenement."
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5wu/yBCZoeFjke92GA==
