Ann: Mount Peake Development Activities Update, page-43

Knee jerk reactions are easily invited when one reads the paras under the EIS Heading.

April the Supplimentary proposal was filed. 10 May the questions asked from NTEPA. Mid June in an upbeat update we are given a time line of 2 to 3  months to file answeres. This time line is repeated in the Quaterly for June end but announced in July.

Now we are told "an approved EIS is expected by end 2017".

Well let's think this through. An "approved EIS" im assuming is the NTEPA approval so the timeline  includes the 35 day consideration period following filing of answers.  Therefor that extends to earlier 2 to 3 months period by no more that 2 months, ie October to mid November.

Not great but not extremely bad either. So not a plus nor neutral but not bad and what we've learned to accept from the apparently inept GHD.

BUT the big as plus. Rather that quote I cut and paste below:

This component of the update strongly suggests finance is being advanced notwithstanding the EIS delays. New flowsheets and optimization Calcs near complete with a further meeting with ECF participants  once new CAPEX and OPEX figures available. Very very positive and indicates the critical issues of finance is steaming ahead anticipating final EIS and Mining Licence is in hand.


Again this is just my read but the announcement looks like a game of two halves to me on ballance very good.