MRA slams licence refusal
The National aka The Loggers Times | 7 March 2016
THE Mineral Resources Authority (MRA) says it is concerned about statement made by Indochine regarding a mining licence held by its subsidiary Summit Development Company (SDC).
MRA noted the Australian Security Exchange announcement last Wednesday released by Indochine in relation to former EL (exploration licence) 1093, which was held by SDC since 2010.
According to the announcement, Indochine was considering legal actions following Mining Minister Byron Chan’s refusal to award SDC to renew licence EL1093.
The company said it was disappointed that it was not advised that its application was refused and the reason for the refusal, which may have provided the company an opportunity to deal with the reasons.
It said this was after they had completed all key milestones required by the Mineral Resources Authority.
Mineral Resources Authority managing director Philip Samar said Indochine made 21 points in relation to the tenement renewal process for EL 1093 , which included:
- At the end of the term of the tenement (28 August 2014), amongst other matters of non-compliance, there was a sum of outstanding compensation owed by Summit to Mt Kare landowners pursuant to conditions in the EL 1093 licence. This outstanding compensation was consequently paid by the administrators in mid-2015;
- Mineral Resources Authority wrote to Summit, at its registered tenement holder address in Port Moresby, on 8 January 2016 notifying it of the Minister’s decision and enclosing a copy of the signed and dated refusal instrument.
- the Mining Act does not require the notification of a tenement extension refusal, nor is there a Mining Act obligation to provide reasons for such a decision; and,
- Mineral Resources Authority can confirm it has received from Summit a new application for the ground at Mt Kare, but under the system of first in time priority under the Mining Act lodgement regime, this application is currently the 4th application received.
17 responses to “Indochine falls out with PNG authorities”
Sounds like someone is getting their palms greased, without anyone knowing who is doing it!
Sounds to me very much like Indochine have breached their obligations to the people of PNG in failing to produce a simple feasibility statement after 4 years of HooHah at the expense of the people of the Mt Kare District.
Its easy to make cheap comments about peoples motives but that’s a very unconstructive way to approach what has been a completly incompetent engagement by Indochine from the outset.
How any one could expect the Minister to renew a tenement to a company owing directly or indirectly almost $14,000,000 with no capacity to pay in, and in circumstance where there has been substantial non compliance with the terms of grant over the last 4 yours, is bordering on delusional.
Its easy to take cheap shots, not integrity in though is required to do that.
ERIC,,,,,just give a quick[but accurate] summary of the $14,000000 indebtedness,,,to whom and how much,,,thanks in advance,,scanno
There are is $4,000,000 owing to contractors such as Heli Nuiguini, the Q.E.Driling, laboratory assay serviced, various freight services and a whole bunch of small and large service providers of all types, general traders in the highlands and all of Summits employees.
This has been a disgraceful betrayal of all of the people who supported the company over the last 4 years.
These creditors have been fraudulently relegated to second place by McVeigh and Roden even though Summit was not subject to any Deed of Company arrangement but because Mcveigh and his scumbag creep boss lodged a fixed and floating charge over Summit some time in 2015 when in fact there is no actual debt.
If McVeigh went to PNG he would get his porkey carrot topped body chopped up into little bits and thrown into the bushes for what he has done.
At the heart of that betrayal is Dermott McVeigh and Brian Roden.
These two scumbags have attempted to pull the wool over the eyes of the creditors by endlessly making promises to pay but they have not.
Another aspect of RODENS FRAUD, committed through FERRIER-HODGSON is the CLAIM TO HAVE LODGED PROCEEDINGS for judicial review on 2 MARCH 2016
NO PROCESS HAS BEEN LODGED.
Its just pure BS.
Thanks Eric for your insightful reply/knowledge…can you tell me your position with regards to this complicated state of affairs,,,possibly you are a shareholder in the IDC company or maybe have interests in Summit Developments,,,a landowner who has suffered through all of this.,,scanno
~~~and the amount of BS being spread is huge,,,worse than at my local RODEO show,,,I assume that you have some evidence to prove that an application for a REVIEW has not been lodged with the authorities involved??
From the Ministers own mouth on Saturday
The Mining Minister Byron Chan says no Court papers have been served to his office yet regarding the Mt Kare exploration project permit holders Summit Development Ltd.
“The Administrator of Indocine, Ferrier Hodgson has stated to the Australian Stock Exchange (ASX) recently that it has filed judicial review proceedings challenging my refusal of the Summit EL 1093 extension application,” Chan said in a statement.
Summit Development Ltd is a subsidiary of Indocine Mining Ltd.
“On 14 December 2015, acting on the recommendation of the Mining Advisory Council, I refused the extension of the exploration licence.
“The general grounds for my refusal were the continued non-compliance by Summit of its obligations, and the uncertainty of financing its proposed K40 million exploration work within the required timeframe.
Meanwhile, the mining company notice to ASX stated that “on 14 July 2014, the company lodged an application for renewal for the license term for a period of two years for EL 1093.
“The application was made in a view to complete the exploration works program and enable the company to transition to an application for a mining lease to conduct mining activities shortly after.
“Another company had registered an application on the newly created exploration license over Mt Kare on 18 December 2015 but was advised on the decision on 18 January 2016……………………………………….”
Scanno, BTW, the other three applications for Mt Kare were applied for on (#2) 25 January, and then (#3) in mid February and the last one (#4, IDC) was lodged respectively in late February 2016.
It is amazing that Ferrier Hodgson continue to publish the gross and obvious lie that they honestly and reasonably believe the Honourable Byron Chan, Minister for Mining, had no basis for not renewing El1093.
The reasons stand out like rams testicles in a field of mallee roots.
1. No Feasibility Report in 4 years.
2. Failure to comply with obligation to pay compensation within the terms of the Deed.
3. And how, pray tell, could any self respecting Minister for Mining in their right mind avoid the profound “in your face fact” that a Minister can not and must not renew a tenement to a company with no technical or financial capacity.
After all, Indochine only exists on paper, it has no staff, not technical expertise, thats all gone after August 2014……….
~~”No Technical xpertise”?,,Mr B.Roden is a world renowned expert in underground mining,,,he owns AMC….which is a highly profitable company.
~~~I recollect a Feasibility Study was done on Mt Kare by Buffallo Gold so another one is unnecessary!,,,NON TRANSPARENCY is the major problem in PNG mining governance,,,and why are the landowners ‘wishes re the development of Mt Kare by IDC being totally ignored??
Roden is not a “world renown expert” on resource studies and undertaking feasibility studies.
Not at all.
You really just don’t know what your talking about old chap.
Brian’s a miner who puts holes in the ground but what has that got to do with Mt Kare?
And your ‘recollection’ of a feasibility study is a recollection of what?
There has never been a bankable feasibility study done on Mt Kare.
If there was why would the competition of a feasibility study been a requisite tenement term of great?
Obviously you have not read the studies done by Madison or IDC nor would you understand what they amount to if you had.
They fall way short of the mark from being bankable in any way.
Nor was there a feasibility study done by Buffalo Gold, it was just a scoping study, and the IDC study was essentially a cheap re-wriet of that under the JORC code.
The only LACK OF TRANSPARENCY I can see is coming from the devious IDC and Ferrier-Hodgson who have consistently lied and concealed the reality of what happened to the shareholders and stockholders in PNG.
What trashy crown of lowlives.
They have made suckers of gullible people like you and their own share holders, they are unbelievable.
Although it is adverse to my position I entirely agree with what the position taken by the MRA and the Minister.
IDC has been unable to pay its debts as they fell due for over two years and what…..leaving creditors busted left right and centre all over PNG and you re saying this doesn’t matter?
Get real old chap.
~~~~sorry,young fellow,,,have neither the time nor the inclination to delve into the history of a now non-existent company!Losses I incurred have been written off long ago against taxes,,,suggest you do likewise,,,and it’s ‘composition’,,not ‘competition’!! Fraud charges presently being ‘dealt-with’ by the ‘judiciary'[joke] should help you pass the time,meanwhile.!
what happened to my last comment,,,hasn’t been accepted??
How about you just stop being an obvious fawning sycophant.
In the latest ASX/PomSox release from Indochine of 20 April 2016 we are treated to a further fest of what appears to be unsupported misconstruction and misrepresentation, further reinforcing the inexorable conclusions that these people are just cowboys and cowgirls.
How about this…………..
“ We understand that the effect of the grant of leave and stay orders is that, as SDL’s extension application remains unresolved, the holdover provisions in the PNG Mining Act 1992 for exploration licences subject to a timely renewal application continue to apply and the ground is not available for any other exploration licence application (ELA). All new ELA’s are held over (including SDL’s fresh application) pending the outcome of the judicial review. ”
The above statement is materially incorrect, and deliberately misleading, and completely unsupported by any Court order………………but if it were true why bother going to court and yet, as a matter of fact, Indochine applied in the PNG National Court of Justice for leave to argue for a Judicial Review of the Minister for Mining’s decision not to renew Summits former now dead EL1093.
And yes, leave was granted, along with stay orders but the current status of EL1093 is that it expired on 14 December 2015 and is recoded as expired in the Register of Titles but the granting of leave to present an application for judicial review does not mean the Minister’s announced determination on 14 December 2015 not to renew the tenement remains “unresolved”, or is overturned because that decision is in full force and effect.
Nor has the National Court made any order restoring Summits former rights of application for extension and the true situation is Summit are simply commencing a process to seek a judicial review, which must be argued before the court, and is opposed by several parties.
Nor where there any new “holdover provisions” granted to Summit by the court in these proceedings these being extinguished on 14 December 2015 and the area occupied by the former EL1093 is open for new Exploration Licence applications (ELAs) and the PNG Mineral Resources Authority has accepted and registered 4 new ELAs over the area.
Its clear that the ASX statement made by Indochine is designed to mislead:
a) shareholders and creditors of IDC, and
b) creditors of Summit who are currently in court in PNG
c) other commercial parties to IDC and SDL
It is an act of deception to assert that is EL1093 has (somehow) “not expired”, and that (somehow) expired rights of renewal have been “resurrected” as a consequence of the granting of leave to proceed with an application for judicial review. Neither of these positions is correct in any way whatsoever.
This is the same dishonest misleading crap that IDC shareholders, Summit creditors, and the government of PNG has put up with from 2010 and who can blame t minister for making his determination when having to deal with this sort of confounding and dishonest rubbish.
~~~same-old,,,same-old pure ,unadulterated gobbledegook that’s been pouring out of Solomon Islands re the SMM [AXiom mining battle over Isabel and landowners rights for years,,,,rules/laws change constantly to suit those with deepest pockets and offshore accounts!!PNG mines will remain dormant as foreign investors find safer havens for their money,,,like myself.
We don, yes, it’s a typo but clearly in the context of its use that word was intended to be “completion”.
As in ‘completion of a feasibility study’.
Your not with it when you spend your time picking out typos and not bothering to read the content of what others bother to lay down.
That really is just pathetic .
As for allegations of fraud the court may have to take a good look at how this company has conducted if affairs.
No hope of getting the license