Ann: Quarterly Activities Report, page-7

'Land Court process with the final land owner to determine compensation for the Mining Lease is well advanced with submissions from both parties complete.
The Court’s decision regarding quantum of compensation payable is expected in Q1 2017.
The Environmental Authority is in place (EPSL03068015). The Environmental Bond (financial assurance) is expected to reflect the small area of disturbance and the limited activities on site - processing and tailings will be off lease.
Mine planning for phase 1 is complete - very simple near surface orebody."

Note, they are only talking about the amount of compensation payable, NOT, whether or not the ML will be granted!!!

That's a Major step forward for shareholders. We now know exactly what is happening and it's now entirely up to a decision of the Land Court. And, I must say that I fully understand why this has not been disclosed before.
Clearly, they were in the negotiating stage with the land owner and until it actually had to go to the Land Court I cannot see that that "negotiation process" would have involved a disclosure to shareholders that LNY was contemplating (threatening) to go to the Land Court WHILE the negotiations were still being undertaken.
That, IMO, would have been a very provocative move and could very easily have made an already apparently recalcitrant counter party much more un co-operative. You don't conduct "negotiations" with a gun at someone's head!!!
Again, not placing too much importance on NZ.
And they still have $720K in cash.
Changed from hold to buy after that.