"'With respect to the Mineral Lease Application, the Company has today received a notice of intent to grant the mineral lease from the Department of Mines and Energy (NT)and this is anticipated to progress to granted status shortly.'"
Just catching up with this news today, i missed this on friday. It certainly sounds like good news, not that you would know from all the whinging in the posts over the weekend!
Granted (excuse the pun) that it does sound a little strange. The fact ABM say they have "received a notice" suggests they have something in writing, albeit only an "intent". I hope they are not announcing this based on some verbal promise ...
Anyone know if this is normal practice from NT Govt? Why issue an an "intent" at all? Either the thing is approved and you can formally issue the ML or it's not approved and you can't formally issue anything more than a whisper or a nudge. Any ideas or views on a bridge/timeframe from the issue of an "intent" to an actual "ML" for NT?
ABU Price at posting:
2.5¢ Sentiment: LT Buy Disclosure: Held
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