quarterly report

A couple of statements stand out in the qtr report:

Final Approvals: "A Mining and Rehabilitation Plan is being assessed by PIRSA, and pending any required changes, approvals are expected to be granted during the fourth quarter of 2009."

It seems the MARP will not be approved this month. October onwards, pending any further issues.

JV Partner: "Hillgrove is in the process of arranging a short list due to the level of interest generated by the Kanmantoo Project being one of the only copper projects in Australia coming on line in the next two years."

and also : "A programme to identify potential joint venture partners for the development of Kanmantoo is at an early stage with an Information Memorandum expected to be issued in early September."

It looks like it will take a little longer for any news on a JV partner. It is at "an early stage..."

However, as has been discussed on here, Kanmantoo's value has been highlighted by saying:

- "Kanmantoo is ideally positioned to be in production at the front end of the next major metals price cycle."
- "The main Kanmantoo deposit remains open at depth and along strike providing real potential to continue upgrades of the resource and reserves base as the project moves forward."
- "With road, power and water infrastructure in place, and combined with the project’s Adelaide Hills’ setting, Kanmantoo possesses major operating and capital cost advantages to that of its more remote peers."

So, some more patience is required. :(

Y