SUNDANCE RESOURCES Forum: Community User: Scoty82

SUNDANCE AND ITS SUBSIDIARIES, CONGO IRON AND CAM IRON, SERVE NOTICES OF DISPUTE ON THE REPUBLIC OF CONGO AND THE REPUBLIC OF CAMEROON OVER THE MBALAM NABEBA IRON ORE PROJECT ➢ A notice of dispute has been served on the Republic of Congo with respect to the apparent withdrawal of Congo Iron’s mining permit. ➢ The actions of the Republic of Congo breach its obligations under the Mining Convention between the State and Congo Iron. ➢ A separate notice of dispute has also been served on the Republic of Cameroon in respect of its failure to implement the exploitation permit that was deemed to have been granted to Cam Iron in 2009. ➢ Sundance has engaged experienced international dispute resolution counsel Clifford Chance. ➢ If the disputes are not resolved within 60 days, Sundance and its subsidiaries will commence international arbitration proceedings to pursue full compensation. Dispute with Republic of Congo Sundance Resources Limited (“Sundance” or “the Company”) (ASX Code: SDL) advises that it became aware on 7 December 2020 that the Republic of Congo (“Congo”) had issued a decree on 30 November 2020, which purports to withdraw the mining permit from Sundance’s subsidiary Congo Iron (“Congo Iron”). While the withdrawal decree has not yet been published in the Official Journal of Congo or formally provided to Congo Iron, the decree as seen by Sundance appears to bear the signatures of the President of Congo, the Minister of Mines and Geology, the Minister of Tourism and Environment, and the Minister of Finance and Budget. As a result of the withdrawal of the mining permit, Sundance considers that Congo has breached numerous provisions of the Mining Convention dated 24 July 2014 between Congo and Congo Iron (“Convention”). The Convention was passed into law on 29 April 2016. In particular, and without limitation, the withdrawal was not conducted in a manner and on grounds that complied with the Convention, and Congo did not give Congo Iron the opportunity to remedy any alleged non-performance. Given the circumstances, not only do the actions of Congo constitute a serious breach of the Convention, they also constitute a grave violation of due process. Further, the withdrawal breaches Congo's undertaking not to expropriate (by direct or indirect action) all or part of the assets of Congo Iron. Congo Iron is now commencing the formal dispute resolution process provided for in the Convention. In the event the dispute resolution process does not achieve a settlement within 60 days, Congo Iron intends to commence international arbitration proceedings pursuant to Article 33 of the Convention.

Wo ?

Es gibt news, wenn ich es richtig verstehe, dann wars das 😞

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Bin mal gespannt wo die Reise hin geht. Kann mir auch nicht vorstellen das sie einfach den Laden zu machen mal schauen bin auch Investiert

Es geht um dreistellige Millionen Beträge die Aktionäre hier drin haben. Die machen den Laden nicht einfach so dicht. Meine Meinug

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Dachte ich kann es mir schön reden

Das gute ist er kann weiter die Tage hier zählen

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Was ist daran gut Silizium? In den Bericht steht drin: (mit Google Übersetz) "Seit 2018 versucht das Bergbauunternehmen, eine Einigung mit der chinesischen Firma AustSino zu erzielen. Nach mehreren Verschiebungen wurde die vorherige Vereinbarung zwischen den beiden Parteien Anfang November 2020 beendet. Die Kündigung hat die Hoffnungen auf eine effektive Inbetriebnahme des Eisenerzlagerstättenprojekts Mbalam-Nabeba weiter zunichte gemacht." Also ich kann da nix gutes erkennen.

Läuft 😉