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2018 The Year it Comes Together !, page-526

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m0ngy

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25/02/18

13:59

Post #: 31324687
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Originally posted by ando1 ↑

September 2011
POSITIVE MEETING WITH ‘CENTRAL LAND COUNCIL’ FOR FUTURE MINING AGREEMENT AT MOUNT PEAKE
As a result of the initial meeting with the CLC, TNG has established a team comprising TNG Directors and senior staff, legal representative Kevin Stephens (Ward Keller, Darwin) and industry recognised Land Access consultant Eddie Fry to represent TNG on a proposed Development Review Committee (DRC) to assist in the progress of the proposed mining agreement.

August 2015
TNG RECEIVES TRADITIONAL OWNER CLEARANCE FOR MOUNT PEAKE ACCESS AND INFRASTRUCTURE DEVELOPMENT. TNG receives Central Land Council Sacred Site Clearance Certificate for the Mount Peake Mine Tenements including the mine and site infrastructure, camp, haul road and rail siding.  The Clearance is a significant step in the Land Access process, whereby Traditional Land Owners have paved the way clear of Sacred Site Heritage for development of the Mount Peake Operations to proceed.  TNG is also in negotiations with the Central Land Council to reach a Native Title Mining Agreement with the Traditional Land Owners, which is expected to be completed shortly.  TNG conveys its sincerest thanks to the Traditional Land Owners and the CLC for their engagement and participation in the Mount Peake Sacred Site Clearance.

June 2017
MOUNT PEAKE PROJECT UPDATE.
Once all final environmental approvals are received, the Company will be in a position to secure the grant of the Mount Peake Mining Lease with the Northern Territory Government. This is also subject to a Mining Agreement with the Traditional Owners. Under NT legislation, the Traditional Owner groups are represented by Land Councils. TNG’s project falls within the Central Land Council (CLC) jurisdiction. TNG and its lawyers have been working with the CLC on the agreement for the past 12 months and on finalising the agreement for the past six months. It is hoped that this process will be completed in the next 2-4 months subject to all approvals.

TNG have been working with the CLC over the past seven years.
A few months back PB seemed a bit disappointed on mentioning April as the next meeting with the CLC.
I'm putting that down towards the time duration, rather than the TO or CLC throwing a spanner in the works. Options need to be converted and time is of importance to get things moving.
Over the years both parties would have a fair understanding of what's required in way of concessions etc. and in that period PB appeared to have a healthy understanding with traditional owners.
I doubt there'll be much if any delays come April.

Expand

It is hoped that this process will be completed in the next 2-4 months subject to all approvals.

That was 8 months ago and there is not a sniff of an agreement. TNG are always hoping and regularly failing to reach milestones on time. Mt Peake was supposed to be in production in 2015 according to the timeline I previously posted.

TNG Price at posting: 15.0¢ Sentiment: Hold Disclosure: Not Held
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2018 The Year it Comes Together !, page-526

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