Ann: Change of Director's Interest Notice - J Moore, page-21

IMO the only real risk here is the opportunity cost if it takes longer than expected. I do not imagine for one second that the Myanmar government would want to; a) sully their reputation in international investment markets, b) miss out on the cudos of the jobs generated in an high unemployment rural area or miss out for years to come on that important PSA agreement money. The spreadsheets I throw up are also an indication of the enormous sums that will flow to government within 2 to 3 years once MIC license granted.

Yes, technically, there is a risk that something could go seriously wrong but that risk is getting increasingly small and has been approaching zero for the past 3 years. The above are just a few of the risk mitigating factors.

Every event that takes us closer to finalisation of the MIC also takes the risk closer to zero and the reward closer to substantial!

You can remove all risk for yourself by selling, but of course that removes all chance of success as well.

In the meantime, the company states clearly that they expect the invitation to submit the MIC to arrive this month. If they thought differently I believe they would notify the market. I fully expect they will receive the invitation to submit MIC application within weeks. Most likely in December but if not then shortly after.

The company (and who is in a better position to judge this?) has suggested December submission and typically an 8 week process to get through to the awarding of the MIC licence.

Even though I too would like it yesterday, it seems a very modest time to wait.