My take on it is if they get the MDL approval we are away and the share price will head North.
However it could be anytime between now and end of the year depending on the department. Having said that the application has been with them since 22nd of September so unsure what a normal turnaround period is on these applications if anyone knows that will give us an idea of date surely this Ann will mean a trading halt
This project won't be significantly derisked until we get MDL approval. I'm happy to accrue a few more in anticipation they have ticked the boxes i.e not in an area near streamflow / not environmentally sensitive, less than 10% of the area is subject to native title, any disturbed ground is repatriated for the landowners (they've got the option of buying the land). So I've got my fingers crossed lol, the larger tonnage or something else could throw us into turmoil.
Independent Geo's I'm wondering if they are doing the measured JORC over a larger and larger area so the Geo's are satisfied?
11% over 1% of the tenement may not be enough for an independent geo etcetera or they are asking for a few more areas from the indicated resource area to make sure it is the same grade. I can't see QBL having the funds to prove up a larger resource until they start selling some product we will never know if there really is 100mt or 400mt until we are flush with cash. Not that it matters until we are shipping millions of ton per annum
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