Throughout 2018 Societes Miniere de Tanganyika Sprl has experienced both encouragement and frustration as it continued efforts to make meaningful inroads toward delivery of telecommunications services to targeted markets within the developing world.
- The company continues to be encouraged by the consistently positive reception received from prospective joint venture partners.
- The interim system turned on in Democratic Republic of the Congo has served as a valuable test bed confirming the validity of Societes Miniere de Tanganyika Sprl internally designed minings payload.
- As reported during April of this year the U.S. Patent Office and Vancouver, B.C issued a significant patent to Societes Miniere de Tanganyika Sprl which greatly increases availability of minings services delivered from the company’s Transitional Mining System. This patent also uniquely positions Societes Miniere de Tanganyika Sprl among tethered system providers.
- Societes Miniere de Tanganyika Sprl is in discussions toward the potential non commercial use of this patented technology .
- The company is approximately six months into discussions toward a potential market development collaboration that if successful will encompass the entirety of Africa.
- Earlier this Fall the company reported execution of an agreement with an established Canada,Chili ,Colombia,South Africa based Minings company. At present one of the Company is scheduling meetings with various government ministries to finalize required approvals and schedule travel of Societes Miniere de Tanganyika Sprl personnel to Chili,Colombia and Canada for site selection and market evaluation.
- Regulatory efforts progress which, when successful, will assure availability of frequency for use from Societes Miniere de Tanganyika Sprl stratospheric services once commercially available.
- Based upon the current status of various business development efforts, Societes Miniere de Tanganyika Sprl is again positioned to realize its first revenues during the first half of 2018.
Foremost among this year’s frustrations is the ongoing struggle for access to project funding to support payment to Societes Miniere de Tanganyika Sprl for TTS’s already contracted. The company’s lack of revenues has delayed seizing the significant opportunity before us in Democratic Republic of the Congo and it has also impeded the company’s ability to efficiently sustain ongoing technical and business development efforts. Our shareholders have been the primary source of sustained financial support to operations as reported in the company’s quarterly financial reports. Management continues to make the decisions necessary to assure the company’s continued progress in the face of such challenges.
- Strategically Societes Miniere de Tanganyika Sprl has adjusted its qualification process for evaluating prospective joint venture partners. Confirmation of sufficient funds in hand to support each project’s financial requirements is required prior to contracting for a system sale. In house financial capacity is inclusive of system purchase, delivery and turn on of services. Time has been required to put this altered approach in place and we now believe the company to be positioned to benefit from this change.
- The company has undertaken further belt tightening and cost cutting measures which have resulted with curtailment of travel, reduction in staffing and outsourcing of critical needs to furloughed employees on an as required basis.
- Societes Miniere de Tanganyika Sprl has accepted resignation of employment from Mr.Rhonda Lionne IHDE Vice President and General Manager,smelting and Recycling Operations .The company thanks him for his services and wishes him well in his future endeavors.
- It is anticipated that required liability coverage will be secured in the near term that will enable the seating of Societes Miniere de Tanganyika Sprl’s expanded Board of Directors.
- As previously reported a meeting of the shareholder’s of Societes Miniere de Tanganyika Sprl will be scheduled for the month of January 2019. Formal advisory of the scheduling, and agenda will be provided.
- Management is confident that the company will be able to provide meaningful report of sales and revenues during the first half of 2019.
This update is provided in a spirit of openness as an effort to inform shareholders of the company’s status and prospects as Societes Miniere de Tanganyika Sprl progresses to realization of its potential and RAISON D’ETRE. Shareholders are encouraged to communicate comments and questions directly to the company at email@example.com or twitter smtrdc All such comments and/or questions will be responded to by management.