Emmerson Share Discussion Threads

[trying2getrichquick] 01/7/2020 16:48

Micky, to get the URL to work on this weird bulletin board, you have to change one of the T in http to uppercase.

[micky67] 01/7/2020 16:16

The ESIA is a key component of all future permitting workstreams, as outlined in the Emmerson's permitting roadmap (See RNS dated 22 May 2019). The ESIA will be completed in partnership with Moroccan headquartered firm Phénixa S.A.R.L. ("Phénixa"). Phénixa have been integral in all environmental and social studies carried out at Khemisset to date. The ESIA will include multiple studies on the existing area, and the final report will conclude any forecast impacts from the Project, and proposed mitigation measures, on: · Existing land uses and social settings · Flora and fauna · Air quality and noise · Climate, topography & elevation · Surface water and ground water · Archaeology, anthropology, and cultural heritage sites Hayden Locke, CEO of Emmerson, commented: "The commencement of the full ESIA is a vital step in our preparation for submitting applications for permits. Once we have a report detailing all environmental and social impact risks, alongside our forthcoming Feasibility Study, we will have all information required to commence discussions in earnest with Moroccan Authorities. "The ESIA is also a vital component of discussions with financiers, many of whom have already expressed approval for our commitment to complying with international best practice. "We continue to use local consultants with extensive in-country experience, who have been involved in some of the largest projects in Morocco. Phénixa, in particular, has been fantastic in the work it has completed at Khemisset until now, and we are delighted to have them involved on an ongoing basis. "Alongside the ESIA, our Feasibility Study continues to progress well and is currently ahead of schedule. We look forward to continuing to keep the market updated with various parts of the study as we progress towards its final release during the first half of 2020." The Company has previously completed ESIA baseline studies for the broader project area (see RNS dated 12 February 2019 and 18 March 2019). These baseline studies will inform areas of further focus, with immediate workstreams including testing of the selected site area (see RNS dated 14 January 2019): · Site noise and air quality · Underground water quality at site · Surface water quality at Oued Beht river · Analysis of site topography Emmerson is committed to developing the Khemisset project in accordance with the highest health, safety and environmental standards. Therefore, as per all of Emmerson's environmental and social studies, the ESIA will be completed in compliance with International Finance Corporation ("IFC") Performance Standards and the Equator Principles. These standards are the global benchmark for the development of mining projects and complying with them is vital for mining projects, especially those seeking finance from international capital providers. Click on, or paste the following link into your web browser, to view the associated PDF document with pictures included: If you google the guys employed by EML separately you’ll see their relevant previous track records and achievements. Worth delving in deeper (which you’ve probably done so) into the whole project as there’s been a lot of ground work (lol) done years ago for this project so they’re just pulling together the reports to ensure they get the green light for the full permit and thus conclude the debt finance deal(s)

[micky67] 01/7/2020 16:07

We’ve all been there a Lew. They’re crazy. When this takes off she might then find out as I’ll be in Spain playing golf next to my new house lol.

[lew82] 01/7/2020 15:47

Micky67 personally I'd have put up with the old bathroom, but it's not worth the moaning I'd have to put up with lol.

[micky67] 01/7/2020 15:42

My missus doesn’t know. She’d murder me as I’ve put all my savings into this lol. Done a lot of research prior so hence the decision. Bought another wee amount this morning so now have shrapnel in my bank account.

[lew82] 01/7/2020 15:38

I wish I had more cash to invest... but alas the mrs wants a new bathroom so I'm maxed out for a while lol

[micky67] 01/7/2020 15:33

Phenixa (Morocco) have been doing the donkeywork for the EISA/ISA over there since January so nearing completion. They have done this work for other projects in the kingdom previously so should be a piece of cake especially as the government pushing to help their own state owned company OCP receive the base minerals from their doorstep rather than importing from other countries. It all adds up ! I think we all realise it’s maybe still a wee flutter at this stage of the project but look at the background work already done so far, the people involved and the fact that everything is now starting to take shape for the project to come to fruition. There’s been over £20M spent on the project so far which is a fair whack of dough which when we’ve bought in has already been spent plus they have enough to get us through to construction stage ! All good :-)

[sportbilly1976] 01/7/2020 15:24

donald,

agreed - it is on the 15th June rns:


Permitting
On 22 May 2019, the Company released the permitting roadmap, which outlined the process required to obtaining the various permits
for Khemisset. The major workstreams include:
· Conversion of existing Research Permits to Mining Permits, governed by the Ministry of Energy and Mines
o Requires the demonstration of technical and economic feasibility, to be fulfilled by upcoming feasibility studies
· Environmental Approval, to be governed by the Moroccan Government Comité National de l'Evaluation de l'Impact sur
l'Environnement ("CNEIE"). The CNEIE will require the Company deliver:
o ESIA to Moroccan standards. The Company will also ensure this complies with IFC standards and Equator Principles
o An Environmental and Social Monitoring Program ("ESMP") to formalise ongoing monitoring and management of any issues
identified in the ESIA
o A Public Enquiry period, during which relevant stakeholders can formally request information of the Company
· Water Usage Permits, governed by the relevant Water Basin Agency
· Temporary Occupation Permits for any Government land intended to be utilised
· Construction Permits for all structures and tailings facilities
Figure 1: Permitting Process O

[donald pond] 01/7/2020 15:12

While I think getting the permits will be a formality, I seem to remember seeing somewhere that there needs to be a consultation as part of the process. Does that ring a bell with anyone?

[lew82] 01/7/2020 14:59

Thanks Cottoner, I just want that mining permit now! I would suggest that's what the market is waiting on too, then I think share price will advance significantly, though I wouldn't like to speculate to what level as that's anyone's guess!

[cottoner] 01/7/2020 14:54

RNS issued on Sept 24th 2019 may be relevant wrt Permit approvals.

Contents of RNS:

Consolidation of Khemisset Project Exploration Permits into Single Permit Approved,
ahead of Mining Permit Application

Highlights

· Consolidation of 21 core mineral exploration permits of the Khemisset Potash Project into a single project permit has been approved and authorised

· Emmerson's Moroccan subsidiary is one of the first mining companies in Morocco to achieve an authorisation for the consolidation of permits under the new Moroccan Mining Code

· Significantly simplifies Emmerson's in-country technical reporting and administration processes ahead of its eventual application for the mining permits

· Preparation underway for commencement of mining permit application process including a comprehensive Environmental and Social Impact Assessment

Emmerson Plc ("Emmerson" or "the Company"), the Moroccan focused potash development company, is pleased to announce that, after broad consultation with the Ministry of Energy, Mines and Sustainable Development, it has received the approval required to consolidate 21 of the core exploration permits of the Company's 100% owned Khemisset Potash Project in Northern Morocco ("Khemisset" or "the Project") into a single permit encompassing the combined area of the 21 permits.

Emmerson's wholly owned subsidiary, MSL Minerals SARL, is one of the first companies in Morocco to achieve a consolidation of permits under the new mining code, which was implemented in 2015, and highlights the perceived importance of Khemisset to Morocco's rapidly developing mining sector. The Scoping Study released for Khemisset (as per the announcement dated 28 November 2018) confirmed it has the potential to be among the lowest capital cost and highest margin potash mines globally, delivering world class economics including EBITDA margins approaching 70% and a post-tax NPV10 of more than US$1 billion[1].

His Excellence, Mr Aziz Rabbah, Minster of Energy, Mines and Sustainable Development, commented:

"The Kingdom of Morocco implemented its new mining code in 2015 to provide a strong platform to facilitate and simplify the administrative procedures for local and overseas companies, with expertise in mining, to invest in our vast, largely untapped, mineral resources. We are strongly supportive of companies that approach investment in our country in the right manner, targeting the development of long term, sustainable businesses for the benefit of all stakeholders."

Hayden Locke, CEO of Emmerson, commented:

"The Moroccan Government and, in particular, the Ministry of Energy, Mines and Sustainable Development, continue to offer strong support to Emmerson, providing us with a high degree of confidence in our ability to advance the world class Khemisset Potash Project forward.

"The consolidation of the permits is the first step for the Company in the eventual process to apply for a mining permit over the Project. It also assists in reducing the ongoing administrative reporting burden. The Ministry's continued support will be instrumental in the permitting phase and as we develop our social license to operate in the Khemisset region.

[lynmee90] 01/7/2020 14:49

I'd be very surprised if the permit wasn't granted given the reaction of the Moroccan Government towards the Project. So long as the numbers are what they look to be which I am sure they are as I feel HL is a straight shooter, financing should be gained and the amount of de risking taken place already it's very attractive.

[lew82] 01/7/2020 14:44

Micky67 Yeah I'll be a lot more relaxed when its 100% I think it is contingent on the Environmental piece of work which is due Q3 so hopefully Permits will be granted say towards the end of September time.

[lew82] 01/7/2020 14:40

Yasyas1 ironically the one part that doesn't worry me too much is the finance as the numbers stack up... it's just making sure that Emmerson are actually clear to mine, obviously without that there is no business.

[micky67] 01/7/2020 14:39

Refer to previous posts re the call one of the EML investors received last week from Hayden who advised him the permit was “pretty much a done deal”. That’s why GC has now been taken on board as they would have waited for the green light before taking to the next stage - ie construction.

[yasyas1] 01/7/2020 14:31

And yes permit worries me too

[yasyas1] 01/7/2020 14:30

Just topped up. Putting more and more into this. 1.5k down at present but fingers crossed.

[lew82] 01/7/2020 14:16

Micky67 thanks for the link, that is crazy, if it goes from £1.4B to £1.8B or even higher the CAPEX costs will be totally absorbed by the additional mining potential... Permitting does worry me but from the few sound bites I've heard the Moroccan Gov seem supportive of the project. Anything can happen but I'm optimistic.

[micky67] 01/7/2020 13:58

Lew, read this mate. I’ve done a bit of digging too on what’s happening over there. hxxps://polaris.brighterir.com/public/emmerson_plc/news/rns/story/ry1pm7r/export

[micky67] 01/7/2020 13:57

Lew, read this mate. I’ve done a bit of digging too on what’s happening over there. hxxps://polaris.brighterir.com/public/emmerson_plc/news/rns/story/ry1pm7r/export

[micky67] 01/7/2020 13:11

Exactly Lew hence I’m in with everything bar my kitchen sink lol.

[lew82] 01/7/2020 12:59

Micky67 that's what I think too, I really approve of the initial FS only looking at the top 3rd of the mine & the project being costed from this... anything else is a huge bonus. From my research the bottom 3rd of the land seems good, the real question is over the middle bit and can it be mined given its proximity to a local populus... even if it cant it has no negative impact on the current project, it's just a question of if/how much the current operation could be increased. I hadn't realised there was additional potential land for mining other than what calculated in the first FS... superb opportunity.

[micky67] 01/7/2020 12:45

Lew82, now that the permits seem to be a formality I reckon that’s why they moved to get GC in to do the mine construction detailed works. Q3 going to be massive and no doubt the finance might be in the bag by then too. They’re currently doing a secondary DFS to see what lies beneath in the other parts of the Khemisset site and they reckon the scoping works done to a month ago confirm the resource likely to ensure an NPV of $1.8 Billion but likely to be more ! That’s why I again added this morning (as did quite a few others) as this project is moving. OCP will be definitely be involved so off-take also going to be a formality too which I think we’ll here about soon.

[lew82] 01/7/2020 12:32

Just watched the interview with GC thought he spoke very well, seemed optimistic, knowledgeable & calm. If this project is going to work I think we are going to see significant movement over the next 3/4 months.

[cyberbub] 01/7/2020 11:17

Yes I know :-)