the next fumble

I am afraid we can all kiss a 2013 environmental permit goodbye.

18/02/2013:
"Strong production upside through processing on-site *stockpiles* with 10+ year mine life potential - approvals expected in third quarter C2013
Adjacent brownfield hard rock [...] – approvals expected in fourth quarter C2013"

18/03/2013:
"Carbine Tungsten is pleased to announce that the Environmental Management Planes(EMP) covering the *stockpile* processing phase of its hard rock project was submitted to the Queensland Governments Department of Environment and Heritage Protection (DEHP) on the 14th March 2013. The typical duration for processing of an EMP once lodged with the DEHP is approximately 3-6 months."

19.08.2013:
"Carbine Tungsten is delighted to announce that the Company has achieved a significant milestone [...] with the Queensland Department of Environment and Heritage Protection (“DEHP”) issuing the Environmental Authority for EPML00956913. This EPML contains the existing hard rock tungsten *stockpiles* that form part of Carbine’s Hard Rock Project."

22/11/2013:
"The environmental studies for the submission of an *application* for an Environmental Permit to carry out open pit mining are at an advanced stage." Sounds great, doesn't it? But what it really means is this: CNQ has NOT yet sumitted its application for an open pit mining permit!

It took them 5 months from submission to permission of the stockpiles application. Should this be indicative for the open pit approval, we won't receive it before Q2-2014. Since CNQ emphasizes environmental approvals are a key prerequisite for funding, we could be in for another 6 months of waiting. Clearly, pointing fingers at our Japanese partner for the continued delays is another attempt to blame somebody else for CNQ's own shortcomings.