Buy MR1 - Next Door Cat 4 Land, page-9

what’s changed? The share price rose on anticipation of the rescission of the categorisation policy. Now we a back to square one. It’s obviously a big deal otherwise the underwriter of the option agreement would not have pulled out.

We need a positive announcement from the regulator and funding announcement from Atrum before this will climb back.

In a worst case scenario the regulation could permanently ban mining in the crows nest pass. Our only option then is to sue for sunk cost of $40million. I think the regulator will try and avoid this and issue a vague policy that will allow us to continue but it will take along time to be approved if ever and good luck finding funding going forward under this scenario.