CAY 5.33% 7.1¢ canyon resources limited

Out of our hands

  1. 631 Posts.
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    The final obstacle or requirement to legally be awarded the permit was achieved approximately 12 months ago with the production of the environmental report

    Once that was achieved and the government were legally obliged to award the permit they decided to add in a further hurdle, that being their satisfaction we had a partner to finance it, hence the eea deal

    that was finalised 3 months ago

    eea also conducted a report on the power requirements and the construction of adequate power supply to power a smelter

    the building of a power station and smelter is now a new requirement in order for the permit to be awarded

    the problem is that no one will invest tens of millions building a station whose economic survival is based upon powering a mining operation it appears the government I'd refusing to permit

    it's a dead end scenario

    only the Chinese have the money to risk on such a scenario where you can't trust the government abiding by its own legislation

    we are stuck

    this is what they got told when they sat in their hotel for 2 weeks expecting to be awarded a permit

    don't believe me if you want but have a think

    it's been 3 months since all requirements have been complied with, if they haven't signed a permit in 3 months then why would an extra month or two make any difference?

 
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