are they ready to go, page-2

This meeting of local community is just one small step. Its not an official step but once we have them onside we can file our application.

The formal application OVOS deals with the social and environmental apects. With community onside we tick one off. Environmental should be a breeze but their are many myths out their and one politician was spreading mistruths that we would harm the environment. So nothing can be taken for granted.

Simon says the OVOS takes 3months for the government experts to review. The paperwork is ready to re-submit as soon as the social aspect is resolved.

At that point we can apply for individual construction permits. Its not one large permit. You do it in stages. So we should be able to start quickly.

Until now we havent had access. When 3months is over and the OVOS is approved we have all the plans, long lead items, funding, etc in place.

The community approval is only worth 3c max imo. The OVOS is the big one because it formalises the community response. Until then they can change their mind. It also removes the risk of environmental delays. OVOS is worth close to 10c imo.

Individual construction permits are worth nothing. Just a formality.

The other issue is the expiry of our permit in June 2012. The permit expires if we aren't in production. From construction to production is 12months. So we have missed this boat.

Simon has started the process of an extension on the ground that we have had issues with locals. All regulatory indications are that it is a formality and an extension will be granted. But would be nice to see this happen in writing.