John and Sadike to meet with the Ministry and demonstrate that DSM is 100% compliant Both have high credibility with the Ministry
Appointments below will create added value to sell Haib 2021-05-20 Deep-South Appoints Dr Martinez Bellange as Special Advisor on Bio Leaching 2021-05-19 Deep-South appoints the CSIRO of Australia to conduct the bio assisted heap leaching test work 2021-05-13 Deep-South appoints Knight Piésold to produce scoping studies on the Haib Copper project in Namibia 2021-04-26 Deep-South appoints METS engineering of Australia to conduct metallurgical test work
DSM - V 0.12¢ seems to be the best level for risk -reward analysis Size-------Bid--------------Ask---------Size-------Last 107.5----0.12-------------0.12--------58.5------0.12
Answers from our CEO FYI: Quoted answers by CEO after permission of going public CEO: See my answers after each of you questions below: EMP for EPL 3140 The EMP for EPL 3140 was filled in august 2020 of your subsidary: the-eis.com/elibrary/sites/def…0Mineral%20EPL%203140.pdf SLR Consulting (Africa) (Pty) Ltd (SLR) has been appointed by Haib Minerals as the independent environmental assessment practitioners to undertake the EMP amendment process and submit the updated EMP to MET for their review and approval. Was it submitted to MET? Is it approved? Is that MET linked with the EPL conditions? Answer: The EMP was filed and approved. When approved it is an Environmental Clearance Certificate that is issued for 3 years. We have the ECC since February as it is a condition to start drilling. The Ministry of Mines has issued the drilling permit only on the condition that we have the ECC Please comment the progress: Drilling 20 holes for both metallurgical tests and geo-tech holes on three target area (Target Area 1, 2,and 3) with identified 10 sites (refer to Figure 1-3). Excavation of 4 representative trenches, ±20 meters long and ±1 meter deep in the above mentioned target areas. (think buld samples permitted til Nov202 Extraction of water from the Orange River for drilling purposes (as per previous EMP). Answer: The information you have is different in the resulting ECCas we have changed the trenches for more drilling and it has been approved. If we drill it is because we have received all authorizations for the District Concilor, which is the relevant authority to approve water extraction for exploration. For mining it is a different authority. As far as we know - some time ago - there was also a MDRL fr Haib applied. That would provide sharesholders much more safety than a conditioned EPL. Have you applied for a MDRL? What is the current status or the feedback of MET Answer: The MDRL application was filed by Teck Resources in January 2017 with the Ministry of Mines, not the MET, which has nothing to do with the granting of exploration or mining licences. At the time Teck was still holding 70% of the company holding the licence and they have done it without our consent. MDRL application was very bad news. A Mining Deposit Retention Licence is filed for up to 5 years when a company intends to carry no exploration or development work for a period of up to 5 years. We bought Teck 70% interest in May 2017 and immediately requested to apply for an extension of the EPL, which was approved by the Ministry. The MDRL filed by Teck was refused. Some of us are confused because we didn't find a NR or sedar Filling of the very important old application extension til 21.04.2021. Is there a filling? And if not, why? Answer: We have never issued NR for an application of a licence renewal. However, you can understand that if the Ministry has refused the licence renewal it is because we have filed an application for renewal. I confirm, we have duly applied Pilot Plant "The Company has also informed the Ministry that at the completion of the Feasibility Study, it is planning to build a pilot plant on site for an estimated cost of CAD$ 25.5 million" Our concern is that it will be difficult to communicate positively to investors. Which strategic Partner will invest before getting the detailed recovery results? That could lead to much dilution. Was this pilot plant part of the updated PEA? Do you think it will be obligatory ;-) to convince MET to get the EPL renewal Answer: The pilot plant is not part of the updated PEA but will be part of the Feasibility Study (FS). It is normal to inform the Ministry of Mines of the long term planning. Building a pilot plant after the FS is a normal step for any project in development and not planning it would be weak project management.. I am always fascinated to see how some investors are bothering with potential dilution that could only happen in a long time (2.5 years) and only if certain conditions are met. In this case, the FS needs to be positive and recommend the pilot plant. We are confident that if the FS is positive and recommend the pilot plant, our market cap will be higher and we will limit dilution. Also, the FS can be convincing for a strategic partner. So, there will be many conditions that will evolve and change over time that makes a discussion about dilution today quite speculative and useless We don’t have to convince MET (Ministry of Environment and Tourism) for the renewal of any exploration licences. We have to convince MME (Ministry of Mines and Energy) Strategic Partner In my view Tech is not that partner. "Teck may determine to increase or decrease its holdings in Deep-South depending on market conditions and any other relevant factors » Answer: All large mining companies have the same statement about their investment in exploration companies. They want to protect themselves if some investors start to speculate about their intentions. At the moment, Africa is not the focus of Teck, so, they are a passive shareholder Some of us are invested in Gold developers in thopia. They still have similar problems with the progress (finding local investors) and state 'requirements'. Answer: However, I have to say that the Mining Act is very clear and we do not foresee any problems with this in the future. The article of the Namibian you refer is stating 15% of mining licences. We are not at this stage yet as we have apply to renew and Exploration and Prospecting Licence. In our case, we already have a large shareholding with Namibians and we will have to see when we apply for the Mining lease if our Namibian shareholding is at or over 15%. Keep in mind that the company wa originally founded by Namibian shareholders. Regards Pierre
Pierre Léveillé, President & CEO of Deep-South Resources, makes an announcement following this week’s news release. Pierre will keep you informed of any upcoming developments. See more here. TSX-V: DSM OTCQB SMTF LINK TO VIDEO https://twitter.com/i/status/1406002691806056448
Deep-South Resources halted at 12:04 p.m. PT 2021-06-23 15:08 ET - Halt Trading Deep-South Resources Inc. has been halted at 12:04 p.m. PT on June 23, 2021, at the request of the company, pending news. © 2021 Canjex Publishing Ltd. All rights reserved.
https://www.stockwatch.com/News/Item/U-th1k98FgEvD-U!DSMTF-20210623/U/DSMTF deep-South Met with The Minister of Mines and Energy of Namibia on HAIB Copper Licence Renewal 2021-06-23 15:19 ET - News Release (via TheNewswire) Vancouver, B.C. - TheNewswire - Canada – June 23, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSXVSM) (OTCSMTF) announces that today the representatives of the Company have met with the Minister of Mines and Energy of Namibia and other Officials of the Ministry of Mines and Energy (the “Ministry”) to voice the Company’s objections to the Minister’s refusal to renew its Haib Copper License. During the meeting, the Company’s representatives had the opportunity to inform the Minister of the work in progress on the project and discuss the reasons provided by the Minister for the refusal to renew the Exploration and Prospecting Licence (“EPL”) covering the Haib Copper project. As a result of the meeting, the Minister informed the Company that he will review all the information provided and reconsider his decision, which will be communicated to the Company in due course. John Akwenye, Chairman of Deep-South stated, "It was a good meeting with the Honorable Minister and we are hopeful that our representations to the Minister will reach a positive outcome”. As disclosed in our press release dated June 16, 2021, the Company has received notice from the Ministry informing the Company that its application for the renewal of its EPL has 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 upgraded Preliminary Economic Assessment (PEA) and commencement of a full feasibility study. Moreover, the Ministry issued all permits required for the drilling program and are well aware that Deep-South has completed the drilling program. In its application for renewal and subsequent representations made to the Ministry, the Company maintains that it has clearly demonstrated that it adequately meets the criteria under the Minerals (Prospecting and Mining) Act (Namibia) (the “Act”) to justify the renewal of its EPL. Accordingly, the Company is of the opinion that the refusal is unreasonable and unjustified. As a result of the Minister’s refusal to renew the Licence, the Company has suspended all work on site and hopes that the retrenchment of its employees will be avoided. The Company has demonstrated to the Minister that during the past two tenures (from April 2017 to April 2021), it has invested CAD$ 2 million ( N$ 23 million) with the completion of among other things, a NI 43-101 resource estimation, a Preliminary Economic Assessment (PEA), a large two tons sampling and bio heap-leach test, geological mapping, modelling and an upgraded PEA. Furthermore, in its renewal application, the Company has proposed a Feasibility Study program with a budget of CAD$ 7.1 million (N$ 80 million) . The program was underway with 3 drills and 42 employees on site. METS and CSIRO of Australia have also begun metallurgical tests, bio-leaching, High Pressure Grinding Roller tests and a flow sheet optimization program in two laboratories in Australia. Knight Piesold also has 4 scoping studies underway covering water usage, alternative power solutions and leach pad assessment and environmental path to the ESIA. The Company has also informed the Ministry that at the completion of the Feasibility Study, it is planning to build a pilot plant on site for an estimated cost of CAD$ 25.5 million ( N$ 286 million) . 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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution Regarding Forward-Looking Information Information contained in this news release which are not statements of historical facts may be “forward-looking information” for the purposes of Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words “believe”, “expect”, “anticipate”, “contemplate”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, “understand” and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: the Minister’s refusal to renew the Company’s Licence, ongoing and future discussions with the Minister relating to such refusal and the potential for any successful negotiated solution resulting from any such discussions. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Deep-South, are inherently subject to significant technical, political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things: political risks associated with the Company’s operations in Namibia; the failure of the Namibian Government to comply with its continuing obligations under the Act to allow for the renewal of the Licence; the impact of changes in, or to the more aggressive enforcement of, laws, regulations and government practices; the inability of the Company and its subsidiaries to enforce their legal rights in certain circumstances. For additional risk factors, please see the Company’s most recently filed Management Discussions & Analysis for its quarter ended February 28, 2021 available on SEDAR at www.sedar.com. There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Deep-South, and prospective investors should not place undue reliance on forward looking information. Forward-looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law. Copyright (c) 2021 TheNewswire - All rights reserved.
Deep-South Resources to resume at open 2021-06-24 07:06 ET - Resume Trading Deep-South Resources Inc. will resume at the open on June 24, 2021. © 2021 Canjex Publishing Ltd. All rights reserved.
https://www.stockwatch.com/News/Item/Z-C!DSM-3102692/C/DSM Deep-South Resources halted at open 2021-06-24 08:36 ET - Halt Trading Deep-South Resources Inc. has been halted at the open on June 24, 2021, at the request of the company, pending an announcement. © 2021 Canjex Publishing Ltd. All rights reserved.
http://www.prnewswire.com/news-rele...er-licence-renewal-application-301320006.html ORIGINAL: Update on Deep-South Haib Copper Licence Renewal Application 2021-06-25 08:00 ET - News Release VANCOUVER, BC, June 25, 2021 /PRNewswire/ - Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM) announces that further to the meeting yesterday with the Minister of Mines and Energy of Namibia and other Officials of the Ministry of Mines and Energy (the "Ministry"), the Company has received a notice from the Minister confirming that the Company's application for the renewal of its Exclusive Prospecting Licence 3140 (the "Licence") has been refused. The Company intends to vigorously contest 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. 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 upgraded Preliminary Economic Assessment (PEA) and commencement of a full feasibility study. 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 real facts: (1) water, metallurgy, power, bio-leach ALL TAKING CARE https://www.deepsouthresources.com/...australia-to-conduct-metallurgical-test-work/ METS will conduct the following test work and high-level studies: · Bio-assisted heap leaching column test work (to be conducted at a laboratory in Australia) · High Pressure Grinding Rollers (HPGR) test work · Agglomeration test work · Flow sheet optimization high level concept study · Alternative heap leaching test work The scoping studies include: Water Supply Scoping Study Alternative Power Supply Scoping Study Environmental reconnaissance and road map to the Environmental and Social Impact Assessment (ESIA) Heap leach pad conceptual assessment About Knight Piésold Founded in South Africa 100 years ago, Knight Piésold operates in over 15 countries around the world https://www.deepsouthresources.com/...uct-the-bio-assisted-heap-leaching-test-work/ The goals of the bio-assisted heap leaching test work include the evaluation of the performance of promising solvent extraction reagents for extraction and separation of copper and molybdenum and monitor and evaluate the adaptation of bacterial strains for improved ore processing. The test work will also monitor and evaluate percolation performance. The test work will mainly serve to optimise the bio-assisted heap leaching processes with the ore at Haib. Dr. Martinez is a biologist with a Doctorate in Biological Sciences.. He has been involved in the research and development of the next generation bio leaching technology used by Codelco. He has also been Executive Director of the Sustainable Tailings program of CORFO, which is partially funded by Codelco. The program was focused on bio technological recovery of value elements from secondary resources (2) ''''''''''''NO BREACH OF CONTRACT'''''''''''' 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 upgraded Preliminary Economic Assessment (PEA) and commencement of a full feasibility study. Moreover, the Ministry issued all permits required for the drilling program and are well aware that Deep-South has completed the drilling program. (3) CEO IS PERFECTLY FIT FOR THE JOBWITH TOP OFFICERS AROUND HIM (4)john H. Akwenye, Chairman, Director Mr. Akwenye is a Namibian retired lawyer with over 30 years of experience in business development in Namibia. Sadike Nepela, Director Mr. Nepela served as an Assistant to the Minister in the Namibian Ministry of Mines and Energy.
last 7 trading days volume DSM...............109,600,472 DSMTF........... 6,378,801 S/O ................143,334,700 The market is in highly oversold territory. Beware of a trend reversal
Looking forward for DSM to recover EPL 3140 My evaluation of the situation is the the Minister of Mines and Energy based his decision only with the briefing of a tire kicker needing a claim of fame. When the Chairman met with the Minister, the Minister took a lot of notes. In these countries a Minister take his time before reversing a decision, simply to avoid looking stupid. On the other hand Namibia sent a strong signal to foreign companies ''spend a lot of money and when we are ready will give you a kick in the butt''. Countries doing that doesn't attrack international capital.
The company up to this time has admitted no wrong doing and they've claimed that they've upheld their part of the agreement regarding their obligations on the Haib property. The company has said & maintained that the Namibian Gov't was advised & aprised of EVERY update and modification at every step of it's developmental process. In addition, mgmt has also indicated that Namibian Gov't, specifically the Dept of Mines & Energy, had in fact agreed to all the changes made and there were NO objections on their part. So unless the company has put out an official statement that they admitted to being negligent on their obligations on this property and i've missed it, i maintain my comments above. As for the Namibian Gov't side & all their accusations against Deep South, both can't be right and either one or the other here isn't being totally truth full. Unless the company is outright lying about what they've stated so far or have exaggerated their claims of what said or done, legally the company hasn't breached their contract with the Namibian Gov't ....yet. What is in question though, is whether the company has all these contractual modifications, claims and subsequent Gov't agreement on a legally binding document TO PROVE what they've said. Usually simple modifications like whether technicalties as a PFS, FS or PEA are to be done and what is prioritized is inconsequential are determined by the operator NOT the country's Gov't. The only hand or say the Gov't has in this, is whether to approve or not the PEA. In the end, it should really be up to the company to decide how this process should flow as they are the best judge of what needs to be done to bring projects successfully along to eventual full development. This is how it works in EVERY part of the wolrd and it usually flow through quite easily WITHOUT any complications. BUT in Africa, especially Sub-Saharan, these simple processes become very complicated & in a grey area for reasons i don't want to be into right now. Because there's a lot to be said there and iv'e stated a few in my previous posts here. Even the Chinese & Middle East who are difficult to deal with and are harsh places to operate in don't pull off sh*t like this. Anyway, until the company officially responds to the Gov'ts decision with something more concrete & meaningful besides the "we didn’t do anything wrong" schtick, this is going to remain in limbo for quite a while. If i were managing this situation, i would advise the company to try and resolve as quickly as possible, by either forcing the Namibian Gov't to abide by their contract on the property OR by bringing the matter to the International courts ASAP. The longer this drags on without ANY actions on the company's part or they keep staying silent, the worse it will look for them and it will be.
Size Bid…….Bid……… Ask…Size Ask.......Last............Volume 1237.0........0.045.........0.05......1169.0........0.05...........1,787.0
Since June 17, 2021 136,493,249 shares traded Deep-South Shares Issued146,334,700 93.27% of s/i traded
DEEP SOUTH RESOURCES INC - http://deepsouthresources.com ..........................Last............Volume #DSM - V..........0.055.........741,600 #DSMTF - Q....0.0396.......40,000
The Yin and the Yang Haib gone open the door to DSM to acquire 43-101 assets in safer jurisdiction DSM is cash rich and ready to move forward
