Agree, it is an approval.
12 months of groundwater data required between borefield & Stirling Swamp & again between the Mine & Mud Hut Swamp.
The EIS stated that there is no link between groundwater & these places - therefore collection of this data can happen simultaneous to camp build, mine infrastructure building. In fact I'd suggest within a couple of months of collection of this data, TNG will see whether the statement of no connection to Mud Hut Swamp is true or not.
However, even if there is a link and the Swamps see an impact, modifying borewater drawdown or finding a supplementary water supply can still be submitted and if approved mining can commence.
What would impress is this - if TNG announce they had already commenced groundwater monitoring with an approved auditor months ago. Even better if they did so 12 months ago. The link
@Ajinomoto posted to the CLC comments should have given TNG & their consultants enough of a heads up that this was an area of concern - water - particularly at the two places listed in the approval - Mud Hut Swamp, Stirling Swamp.
So I'm wavering from a trading halt intended to spin the announcement, to something better - IMO there are potentially some major announcements which were contingent on the EIS approval which can now become reality - no EIS, no Mine. TNG have EIS, TNG have a mine (pending TO/CLC agreement).
TNG can mine - they can then sign TiO2 pigment customers.
TNG can mine - they can start to sign real deals heavy machinery suppliers (CAT)
TNG can mine - deals with EPCM contractors, ordering of long lead time items
TNG can mine - financiers have something they can finance
TNG can mine - NAIF have something they can back with infrastructure assistance that is shovel ready & will be high profile in the NT, particularly leading to the Fed election
TNG can mine - they have their own resource to feed the refinery, so more agreements on the refinery can come into play.
TNG can mine - where is PB exactly for the next 3 weeks.
(20min delay)