Ann: Key Management Appointments, page-7

“The Good story” is the one that keeps the gravy train running and that is that the licences are just around the corner and almost there etc etc. this keeps some interest and allows the pump crew to keep draining this husk of any cash they can raise. That’s the story.

Unfortunately the real story is that this area has in its whole recent history has never been able to reach agreement between the various tribal and family groups on what should be done and how. For decades there has been disagreements and court action ( masses of it before AVQ and sumitomo) between various groups. Then the idea to circumvent these issue was thought up and that was to register the land in the name of a group of landowners that were disposed towards doing a mining deal and to change the land from Customary title to registered title. This was an absolute cracker of an idea that would sweep away the need to have all these bickering parties agree on an SAA and enable everything to progress. iT DIDN’T WORK unfortunately and was thrown out by the COA and reversed.

So back to having to get ALL landowner groups to agree on what to do and this is just as impossible as it has been for decades.

There well may be a huge and rich resources there’s under the ground but no one has ever been able to get to it and I doubt Axiom will have any more success than anyone else.

The government CANNOT simply say, look its in the national interest and we are just going to issue a licence and get things going because it waould be kicked to the kerb immediately by the courts. The COA decision reaffirmed in absolute terms that the process of dealing with customary landowners cannot be circumvented or short cutter or altered. The Customary landowners are king of the hill when it comes to dealing with their land. No way around it.

They are nowhere with this application because they haven’t even gotten to the Minerals board yet! The first step! So put out of anyone’s head the idea that it’s sitting on the ministers desk for signature, it hasn’t even started it’s journey yet.

They have to keep the “story”imminent so they can justify raising more money to keep squandering. They will need another avenue of finance by the end of March as they would have spent their way through the whole $9 million of the Magna con note funding by then. But I’m sure the licences will be “imminent” at that point still and blue sky’s ahead but underneath nothing will still be happening.