Ann: New Geological Interpretation at Nagambie Mine, page-42

The resource at play is non existent at present. You can not have a resource based on one hole. I suggest you review the requirements for a Mineral Reservse, which is what is required to apply for a Mining Licence, even an extension to the current MIN. To expand the current MIN will require the application for a new MIN. To apply for a new MIN will require a Mineral Reserve to be identified. This requires significantly more than one drill hole, with only small encouragement.

You should review the requirements to apply for a Mining Licence - available through the Earth Resources, and also review the requirements for a Mineral Reserve - available through JORC Code 2012.

You are not correct in any many.

Establish a Resource - NO. Needs to be a RESERVE
Resource within ML parameters - What Resource? I don't believe NAG have ever published a current Resource let alone Reserve. There were other resources from other tenements, but the MIN at Nagambie does not allow the Mining of such. Any MIN will require its own separate MIN, Work Plan and Rehabilitation Bond.
An extension permit can be sought - No such thing. Requires application for an entirely new MIN, subject to all advertising, new permits, systems and procedures, community engagement.

Admittedly IF a RESERVE is identified, many of these things can and should be overcome.

The issue is that need to define a RESEVE first, and that will require a good $10-20M minimum