Thread by @BigBiteNow

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In terms of #ACP Mining Right, Blackrock Minings progress is well worth looking at, given they are a neighbour of ACP's in Tanzania and ahead of them in terms of progress, be it Capex is far higher and grades lower.

Here's their Mining Right progress from 30th January 2019.

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Now here's their Mining Right announcement.

Note the dates.
Submitted 9th November 2018 (post DFS completion, same as ACP).
Received 26th Feb 2019.

Total = 3.5 months, which is quite remarkable efficiency with "recommended" status coming even earlier on 10th Jan 2019.

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ACP have approached things slightly differently because Blackrock already had their Environmental Impact Assessment (EIA) approved (Sept 2018), prior to applying for their Mining Right because they had no completed DFS. and so pushed this to completion first.

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What's remarkable about ACP, is that they have announced (perhaps not submission date), their EIA the week prior to NEMC conducting their "field visit," which is deemed to be ;

"one of the final steps before recommendation for the granting of the environmental permit

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(EISA approval) which will allow the granting of the mining licence."

ACP Mining Right application dated 30th June, so 3.5 months would be around min Oct.

However, with the EIA process there are still clear a couple of barriers/processes to bring to a close,

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so the comparison is guidance as opposed to expected reality.

Key takeaways for me, which I do not take lightly, is that ACP management clearly have good connections within the Tanzanian authorities, and the process to completion is a short time frame.