Mookiesbad98
JF-Expert Member
- Feb 1, 2015
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Haya mambo ya.makesi si.ndio.saidi lugumi naye kalipwa kashinda rufani.yake ndio.kaanza.kuvimba.tena.siku.hizi
Duh 🙄 😱😳Hiyo namba 4 ni utakatishaji hela mkubwa sana unafanyika towards election period. Ifuatilie utarudi hapa.
Duh 🙄 😳😱Haya mambo ya.makesi si.ndio.saidi lugumi naye kalipwa kashinda rufani.yake ndio.kaanza.kuvimba.tena.siku.hizi
Nchi inaliwa na wageni kwasababu ya kuwa na wajinga na wapumbavu kwenye nafasi za uongozi. Watanzania tuamke. Ebu nchi masikini kama Tanzania inaenda kulipa milion 27 za dollars kwa kampuni kwasabbu tu za kusign mikataba mibovu? Imagine hizo milioni 27 zingetengwa kwaajiri kutowa mikopo kwa vojana 27 watakao kuja na plan idea za kuazisha kiwanda. Maana yake tugeweza kuanzisha viwanda vipya na kuajiri vijana wengi.TORONTO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to report a US$27,000,000 settlement has been reached with the United Republic of Tanzania (“Tanzania”) in the dispute arising out of the expropriation of Montero’s Wigu Hill rare earth element project (“Wigu Hill”).
The settlement sum of US$27,000,000 (approximately CDN $38,000,000) due to Montero is payable in just over 3 months, with payments scheduled as follows:
- US$12,000,000– payable by 20 November 2024 –PAYMENT RECEIVED
- US$8,000,000– on or before 31 January 2025
- US$7,000,000– on or before 28 February 2025
The settlement sum represents ~39% of the US$70,000,000 initially claimed by Montero. This settlement obviates the need for a costly and time-consuming hearing, the risk of an adverse award, enforcement efforts, and finally concludes a near 7-year dispute.
Dr Tony Harwood, President and CEO of Montero commented: “I am pleased Montero was able to reach an amicable settlement with the government of Tanzania to bring a mutually beneficial end to this dispute. This resolution allows both parties to move forward, and we wish Tanzania every success in attracting new mining investment. I would like to thank our shareholders, board, management, and our legal and technical teams, for their valuable contribution to this outcome.”
ICSID Arbitration
Montero and Tanzania have sent a joint request to the arbitral tribunal to suspend the ICSID arbitration proceedings, as the first payment has been received by Montero. Subsequent payments are to be made by the specified dates provided. Provided the final payment has been received by Montero, the parties will request the arbitral tribunal discontinue the ICSID arbitration altogether.
Distribution of Funds
Montero and its litigation funding partner, Omni Bridgeway (Canada) will receive a distribution of the first payment. The second instalment will be distributed to Omni Bridgeway (Canada) and to Montero, and will also cover Montero's operational needs and legal expenses, including payments to Boies Schiller Flexner UK LLP and Jeantet AARPI. Montero will entirely retain the final instalment.
Montero is planning a return of capital to shareholders where no amount has yet been determined and is subject to accounting review and board approval. In addition, Montero will retain funds to cover legal, taxation, and administrative expenses, including potential costs for arbitral proceedings, or enforcement actions if the second or third instalments are delayed or unpaid. The net amount of the award after repayment to the funder and legal expenses cannot be estimated with certainty and no assurances can be made. Further announcements will be made in due course.
Acknowledgments
The Board would like to especially thank Dr. Tony Harwood for reaching this settlement. Without his perseverance and significant efforts to not only develop Wigu Hill initially, but to then safeguard and recover Montero’s investment speaks to his dedication and commitment to the Company and shareholders. Special thanks also to directors, the balance of management, our loyal shareholders, legal advisers and accounting team for their steadfast support and dedication throughout nearly seven years of efforts to secure compensation for the Company’s investment in the Wigu Hill Rare Earth Project. Montero’s legal team includes Timothy Foden of Boies Schiller Flexner (UK) LLP and Martin Tavaut of Jeantet AARPI. Quantum and technical expertise provided by Dr. Neal Rigby of SRK Consulting (USA) Inc. with full dispute funding secured from Omni Bridgeway, a leading global dispute funder. This unwavering commitment enabled the Board to achieve a favourable outcome for the benefit of shareholders.
Disclaimer
The conclusion of the ICSID arbitration and payment of the remaining instalments is conditional on Tanzania’s compliance with the settlement agreement. The agreement does not provide for any security for the benefit of Montero in case Tanzania would not pay any instalment, in which case Montero can either resume the ICSID arbitration or seek enforcement of the settlement agreement.
About Montero
Montero has agreed to a US$27,000,000 settlement amount to end its dispute with the United Republic of Tanzania for the expropriation of the Wigu Hill rare earth element project. Montero will continue to seek a joint venture partner to advance its Avispa copper-molybdenum project in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 50,122,975 shares outstanding.
SOURCE: Montero Agrees to US$27 Million Settlement from Tanzania
Wanajitahidi kuitetea ile mikataba nyonya Damu ya Dhahabu !!Una jiabisha asee.
umekosea, ccm halipi kitu, tozo zako ndio zinalipa, na zitaongezwaNiliwaambia hili deni dogo sana kwa CCM, nikasema hata wangeweka na interest ya deni bado CCM wangelipa, na hata wangeweka interest, na 10% wangelipa.
Uzuri Mwinguli alishatuambia " Hata siku moja hakuna mwananchi atafuatwa nyumbani kwake agongewe mlango kwamba kuna deni la kulipa huku" Wanalipa wao CCM hahaha, safi sana nchi hii.
Hahaha HUWAELEWI CCM wewe, Maendeleo wanaleta wao, PESA za nchi hii nizao, MIKOPO hawapokei wao maana zile ni fedha za ndani, ila madeni WANALIPA Wao. Pesa za Kodi na mapato yote nchini ni mali yao.umekosea, ccm halipi kitu, tozo zako ndio zinalipa, na zitaongezwa
Inauma kutoa hela bure kwa watu pengine wao ndio walikua wamevunja mkataba kwa kuchelewa kuanza mradi hadi ikabidi serikali kuvunja mkataba. Awamu ya tano ilikua na watu makini sana kwenye sheria. Isingewezekana wao kuvunja mkataba kimakosa. Na ndio maana hawa Montero wamesubiri hadi kuona awamu ya jpm imepita ndio wakaleta madai wakijua wana washirika ili kupiga hela ya umma. Wahuni walichangamkia dili sema mama kwa namna gani hatujui akawashitukia. Kwa vyovyote kazi ikawa ni kushusha kiwango ambapo sasa huenda ikabidi wahuni wasipate kitu.TORONTO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to report a US$27,000,000 settlement has been reached with the United Republic of Tanzania (“Tanzania”) in the dispute arising out of the expropriation of Montero’s Wigu Hill rare earth element project (“Wigu Hill”).
The settlement sum of US$27,000,000 (approximately CDN $38,000,000) due to Montero is payable in just over 3 months, with payments scheduled as follows:
- US$12,000,000– payable by 20 November 2024 –PAYMENT RECEIVED
- US$8,000,000– on or before 31 January 2025
- US$7,000,000– on or before 28 February 2025
The settlement sum represents ~39% of the US$70,000,000 initially claimed by Montero. This settlement obviates the need for a costly and time-consuming hearing, the risk of an adverse award, enforcement efforts, and finally concludes a near 7-year dispute.
Dr Tony Harwood, President and CEO of Montero commented: “I am pleased Montero was able to reach an amicable settlement with the government of Tanzania to bring a mutually beneficial end to this dispute. This resolution allows both parties to move forward, and we wish Tanzania every success in attracting new mining investment. I would like to thank our shareholders, board, management, and our legal and technical teams, for their valuable contribution to this outcome.”
ICSID Arbitration
Montero and Tanzania have sent a joint request to the arbitral tribunal to suspend the ICSID arbitration proceedings, as the first payment has been received by Montero. Subsequent payments are to be made by the specified dates provided. Provided the final payment has been received by Montero, the parties will request the arbitral tribunal discontinue the ICSID arbitration altogether.
Distribution of Funds
Montero and its litigation funding partner, Omni Bridgeway (Canada) will receive a distribution of the first payment. The second instalment will be distributed to Omni Bridgeway (Canada) and to Montero, and will also cover Montero's operational needs and legal expenses, including payments to Boies Schiller Flexner UK LLP and Jeantet AARPI. Montero will entirely retain the final instalment.
Montero is planning a return of capital to shareholders where no amount has yet been determined and is subject to accounting review and board approval. In addition, Montero will retain funds to cover legal, taxation, and administrative expenses, including potential costs for arbitral proceedings, or enforcement actions if the second or third instalments are delayed or unpaid. The net amount of the award after repayment to the funder and legal expenses cannot be estimated with certainty and no assurances can be made. Further announcements will be made in due course.
Acknowledgments
The Board would like to especially thank Dr. Tony Harwood for reaching this settlement. Without his perseverance and significant efforts to not only develop Wigu Hill initially, but to then safeguard and recover Montero’s investment speaks to his dedication and commitment to the Company and shareholders. Special thanks also to directors, the balance of management, our loyal shareholders, legal advisers and accounting team for their steadfast support and dedication throughout nearly seven years of efforts to secure compensation for the Company’s investment in the Wigu Hill Rare Earth Project. Montero’s legal team includes Timothy Foden of Boies Schiller Flexner (UK) LLP and Martin Tavaut of Jeantet AARPI. Quantum and technical expertise provided by Dr. Neal Rigby of SRK Consulting (USA) Inc. with full dispute funding secured from Omni Bridgeway, a leading global dispute funder. This unwavering commitment enabled the Board to achieve a favourable outcome for the benefit of shareholders.
Disclaimer
The conclusion of the ICSID arbitration and payment of the remaining instalments is conditional on Tanzania’s compliance with the settlement agreement. The agreement does not provide for any security for the benefit of Montero in case Tanzania would not pay any instalment, in which case Montero can either resume the ICSID arbitration or seek enforcement of the settlement agreement.
About Montero
Montero has agreed to a US$27,000,000 settlement amount to end its dispute with the United Republic of Tanzania for the expropriation of the Wigu Hill rare earth element project. Montero will continue to seek a joint venture partner to advance its Avispa copper-molybdenum project in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 50,122,975 shares outstanding.
SOURCE: Montero Agrees to US$27 Million Settlement from Tanzania
Duh 🙄 !Hahaha HUWAELEWI CCM wewe, Maendeleo wanaleta wao, PESA za nchi hii nizao, MIKOPO hawapokei wao maana zile ni fedha za ndani, ila madeni WANALIPA Wao. Pesa za Kodi na mapato yote nchini ni mali yao.
Wananchi hamtofuatwa kugongewa milango yenu kulipa deni la taifa, wasiwasi wenu nini?