From my research it's now pretty clear that the head of the AELB specifically said it will take 7 months to review the documents for the POL which were submitted 1 month ago. In other words, the review of the documents will be finished at the end of May and the EARLIEST possible time for issue of the POL would be June 1. It's quite possible they might return the documents yet again for further adjustment at the end of that 7 month period. I don't see any reason for your prediction that it is "likely" to be March/April apart from just hopeful optimism.
This is just for the PRE operating license. It would be pure speculation to say how long it might take to then obtain a full operating license, however I don't see how this can be interpreted in any other way than extremely bad news for LYC, and in my opinion should result in a huge sovereign risk premium being placed on all future direct investment in Malaysia.
I'm loath to say it but this seems like an act of spite to "punish" NC for media announcements about planned production in Q1 but that's just speculation on my part.
I'd like to see LYC taking immediate steps to ship ore to Rhodia or some other processing plant to begin generating cash flow as soon as possible. Let's see how long it takes Nick to get this ball rolling.
LYC Price at posting:
$1.29 Sentiment: Hold Disclosure: Held
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