red on a very green day??, page-10

dwc66

Form what I can gather FIRB have 30 days to make a judgement,plus 10 days to inform the Company, after Hanlong make their submission.
This Hanlong will make through a legal firm conversant with what FIRB require. FIRB can drag out this time frame by asking for a new submission for what ever reason they deem fit.

I do know that Hanlong had a meeting in Sydney on the 26th Oct regarding this matter. When can we expect to hear anything, thats a very good question.

MOL has given us a time frame, with an expected shareholders meeting for approval in Jan.

Therefore we would need to be informed by late Dec, it could come by the end of this month its anyones guess.

Looking at what FIRB have approved in the past month its looking good for this to go through. After all its a project that requires a fair amount of capital, so a partner is always going to be an issue that FIRB needs to consider. We don't have many Companies here in Aust that would be interested in MOL.

Hanlong are a private Company they have made it clear they want the Head Office to remain here in Perth. My impression is that they want to use MOL to build a large Mining House, if that is the case then I think MOL could be a very good investment to hold.

These of course are only my thoughts and time will tell.