AuKing Mining Ltd (ASX:AKN) expects to receive a long-awaited decision on the status of its two paid up Prospecting Licences at the Manyoni Uranium Project in central Tanzania, by the end of this month.
A meeting took place recently between the company’s legal representative in Tanzania and senior officials from the Country’s Ministry of Mines and the Mining Commission and following this AuKing’s managing director Paul Williams said he welcomed the prospect of a decision.
“It is most unfortunate that nearly 15 months has passed since two important AuKing licences at Manyoni were revoked by the Mining Commission,” Williams said.
"From the outset, AuKing has maintained that the process around the revocation of the Manyoni licences was not in accordance with relevant provisions of the Tanzanian Mining legislation.
"At least we now have an expectation that a decision will be made shortly and hopefully AuKing has the opportunity to carry out the detailed drilling, metallurgical test work and further exploration that has been planned for the Manyoni Project but not as yet carried out,” Williams added.
Background
AuKing announced to ASX on January 31, 2023, the completion of its acquisition of 92U Tanzania Limited after that company was granted 12 Prospecting Licences (PLs) in Tanzania on January 26, 2023, including five PLs that comprised the Manyoni Uranium Project.
A significant portion of the historical Manyoni uranium resource estimate was contained within two of the 92U PLs – licences 12193/2023 and 12194/2023.
Galo Capital, another Tanzanian company unrelated to AuKing or 92U, was then issued PLs on February 3, 2023, over the exact same areas as those two AuKing Manyoni PLs.
AuKing has not yet requested a refund by the Commission of the applicable licence fees paid by AuKing to originally secure grant of the Manyoni PLs.
Notices were then received by AuKing on Monday, February 20, 2023, from the Tanzanian Mining Commission indicating that the two Manyoni licences had been revoked due to a flexicadastre system malfunction that led to double allocation of mineral rights over the same areas. There had been no prior indication to AuKing that such revocation notices would be issued.
Mining Commission decision
As a recent meeting in Dodoma, Tanzania, with senior officials from the Mining Commission and the Ministry of Mines, AuKing’s legal advisor in Tanzania reiterated the grounds that were set out in AuKing’s February 2023 Ministerial Appeal.
The legal advisor was requested to re-submit these materials to both the Ministry and the Mining Commission, which has since been done, with an undertaking that a decision would made within a month or so.
AuKing has no indication or expectation as to the outcome of the decision that will be handed down and once received, the company, will analyse and assess the decision for further consideration.
In a statement, AuKing said: “At least at that time, after 15 months of the matter being in abeyance, the company (and other interested parties) will know the Tanzanian Government’s position in relation to the status of AuKing’s Manyoni licences.”