Pepper..it is in the hands of the BLM in Nevada ..CAD nor other mining companies as far as i am aware have any influence over the BLM time frames for approval..obviously CAD management would've been hoping for a faster approval but it is out of their control so i don't feel that they can be blamed for that..The applications according to Keith and Steve are in they don't expect any issues with approvals..seems some have had applications approved faster than others not sure why ?(as i have shown by examples ) possibly because their offices are based there ?..Approvals could arrive any day ..then the drilling side of it begins..
in regards to the BLMs and drilling and your concern (
BUT as we all thought and as management has told us we should of have had lots of results by now but so far nothing) this has been passed onto me in regards to Steve's thoughts.
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Caeneus Minerals, are based several thousand kilometres distant from our principal projects in Nevada.
We are doing our very best and nobody wants success more than we do. However, in order to operate at this distance we are reliant on various Canadian and American contractors. I have no doubt that these contractors are very good at what they do but they also have other masters. As a result we cannot always get answers immediately that we need them. As a result I often have to estimate, and unfortunately sometimes I estimate badly.The BLM permit applications have been lodged and we now hope to commence drilling in September or early October.
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So basically that tells me Steve is expecting like us the approvals very shortly..that they like us all are awaiting the BLM approvals ..patience on their part and ours is the only option..as said the approvals could arrive anytime..they wait we wait...i'm fairly certain they want lots of results as well..( as Steve said they want success more than we do ) but the BLM barrier is holding them back atm from achieving for the moment..once the barrier is removed shortly then it should be full steam ahead..
The distance would be a part of the issue and i would think be the same issue with any either European or Aussie miners who have moved there...such is the way it is..and like ourselves i will assume Steve and his estimate was based on such research similar to what i have done on other companies timeframes for approval..i did contact the BLM but they had questions that i am not privy to answers only CAD management would know..so i hit a roadblock..not because of anything suspicious but because there was a lot of mining lingo questions that steve would know being in that profession...and i don't.
Well done in gaining a profit ..and yes a good idea to monitor CAD, hopefully you can get back in at a reasonable price before the upward spike happens..a couple of ANNs regarding drilling and this price imo will only be a i wish i was in at that price thing..if they hit paydirt then the price could put a pleasant smile on the faces of all who are invested in CAD..remembering that Brine is faster to production less costly and results which go to Reno have an approx return time of a couple of weeks thereabouts..so things could happen very quickly once these BLM approvals come through..
GLTAH...
(20min delay)