Deep-South Resources / DSM (TSX)



  • Deep-South Files Applications with High Court of Namibia, Concerning Haib Copper Licence Refusal
    http://www.mining.com/press-release/?id=60f8369a00cd9d7abb180fe9


    "VANCOUVER, BC, July 21, 2021 /CNW/ - Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM) announces that the Namibian legal counsel of the Company and its subsidiary, Haib Minerals (Pty) Ltd ("Haib"), have filed an application on behalf of Haib with the High Court of Namibia for an order reviewing the decision of the Minister of Mines and Energy ("Minister") refusing the renewal of Haib's licence EPL 3140 ("Licence") covering the Haib Copper project in Namibia. The application also seeks an urgent interdict aimed at preventing the Ministry of Mines and Energy of Namibia ("Ministry") from granting a licence over the same licence area to anyone else.


    The respondents to the Affidavit are the Minister of Mines and Energy, the Mining Commissioner and Orange River Exploration and Mining CC. Orange River is cited due to its possible interest in the matter since it applied for an Exclusive Prospecting Licence extending over the Haib Copper deposit on November 12, 2020.


    The Company will provide regular updates in this regard and any other matter concerning this situation.


    The Company intends to vigorously contest the Minister's decision by all means necessary and available under the applicable laws of Namibia and international laws. The Company maintains that in its application for renewal and subsequent representations made it clearly demonstrated having met all criteria under the Minerals (Prospecting and Mining) Act 1992 and licence conditions to justify the renewal of its Licence.


    As disclosed in our press release dated June 16, 2021, the Company had received notice from the Ministry informing the Company that its application for the renewal of its Licence had been denied citing the Company's inability to advance the Licence to Pre-Feasibility and complete the proposed drilling program as planned. The Company maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility (PFS) study to an upgraded Preliminary Economic Assessment (PEA) and the commencement of a full Feasibility Study (FS). The latter WAS ALREADY COMMENCED WITH AT THE TIME OF THE REFUSAL. Moreover, the Ministry issued all permits required for the drilling program and officials WERE WELL AWARE that Haib had completed the drilling program at the time of the refusal to renew.


    As a result of the Minister's refusal to renew the Licence, the Company has terminated all work on site and regrettably proceeded with the retrenchment of its employees on site.


    The Company is also investigating its international legal options and WILL DISCLOSE ITS STRATEGY IN DUE COURSE.


    Company development

    Recovering the rights of Haib Copper remains the number one priority of the Company. However, Management of Deep-South was already looking at other projects before the situation arose with the Haib licence. It is important to carry on with the development of the company and start again adding value for shareholders. Our team is currently evaluating projects. We have identified copper and gold exploration projects that have the potential for world class discoveries and resources. We will keep our shareholders informed timely of any new developments.


    About Deep-South Resources Inc

    Deep-South Resources is a mineral exploration and development company Deep-South growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. In using and assessing environmentally friendly technologies in the development of its copper project, Deep-South embraces the green revolution.............................."

  • Hi Peter
    ja das war ja auch ein Thema in meinen Gedanken.
    10 Jahre ist ne lange Zeit da kann viel passieren, darum sollte der zu erwartende Kursgewinn entsprechend hoch sein.
    Ich nehme mir die Zeit aber nur weil ich ein Potpurry von unterschiedlichen Charakteren habe.
    z.B die Artemis. Ich gebe der 3 Jahre dann sollte sie verdoppelt haben. Mehr wird da aber auch nicht.
    Zu DSM
    Da sehe ich wirklich nur die einzige Option dass die die Minenrechte zurückklagen. Solltee das nicht ausgehen dann sind wir hier bei 15 Jahren. Solange habe auch ich nicht.

  • Das CRV sehe ich als sehr mäßig an. Viel mehr als 0,10 sehe ich nicht. Vertrauen ist auch bei der Lösung dahin; ergo strategischer Investor schwierig. Dauert es länger folgen weiter PP welche das kurspotential weiter stark beschränken. Wäre mal interessant zu recherchieren in welcher Größenordnung die Gerichtskosten sind; diese sind wahrscheinlich vorzustrecken. Wird tech vorschießen?


    Wäre DSM zumindest eine 50-100m mc Bude hätte ich gehalten.


    Peter

  • Na wenigstens hält der Preis, was der Name verspricht, in Zukunft überlege ich jedenfalls zweimal, bevor ich in was mit "South" im Namen investiere [Blockierte Grafik: https://www.goldseiten-forum.com/wcf/images/smilies/wacko.png]. Obwohl, bei Fosterville South ist ja noch Leben drin...


    Habe nicht verkauft, die Dinger bleiben vorerst als Mahnmal im Depot. Zum Glück war die Posi nicht allzu groß.

  • High Court of Namibia interdicts the Ministry of Mines to grant any mineral licences over Haib Copper licence in Namibia


    Vancouver, B.C., Canada – September 1, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSX-V: DSM) announces that the High Court of Namibia has rendered a decision that interdicts and restrains the Ministry of Mines and Energy of Namibia to grant a mineral licence, including an Exclusive and Prospecting Licence (EPL), in terms of the Minerals Act 1992, to any Person or Company over the area covered by the Haib Copper project - EPL 3140. The interdict and restrain order are in force until the final determination of the application to the High Court to review the decision of the Minister to not renew EPL 3140.


    The Court will hold another hearing on September 16, 2021, to define the steps forward with regards to the review of the decision of the Minister.


    The Company will provide regular updates in this regard and any other matter concerning this situation.


    As disclosed in our press release dated June 16, 2021, the Company had received notice from the Ministry informing the Company that its application for the renewal of its EPL had been denied citing the Company’s inability to advance the EPL to Pre-Feasibility and complete the proposed drilling program as planned. The Company maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility study to an upgraded Preliminary Economic Assessment (PEA) and commencement of a full feasibility study. The latter was already started. Moreover, the Ministry issued all permits required for the drilling program and are well aware that Deep-South has completed the drilling program.


    As a result of the Minister’s refusal to renew the Licence, the Company has terminated all work on site and has proceeded with the retrenchment of its employees on site.


    The Company is vigorously contesting this decision by all means necessary and available under the Minerals (Prospecting and Mining) Act (the “Act”) and other applicable laws of Namibia. In its application for renewal and subsequent representations made to the Ministry, the Company maintains that it clearly demonstrated having met all criteria under the Act to justify the renewal of its Licence.

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