Ann: Details of SPP, page-26

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Bugwan64

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20/01/19

19:54

Post #: 37169483
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Originally posted by triage ↑

Does anyone know the difference between a mining lease and a mining license with regards mining in Guyana?

On slide 17 of the Brisbane Resources Roundup presentation, dated 18 Oct 18, the statement is made with regards the "Ohio Creek Prospect" that "Mining License in place". To me that suggests that the artisan mining done at the Tallman pit within the OC prospect had been legally carried out and that further mining within the prospect was already licensed by the Guyanese government.

But in the 2nd ASX announcement about assay results from Ohio Creek, dated 14 Dec 18, on page 7, it is stated "[], Troy has commenced preparations for the lodgement of an application for a Mining Lease in respect of the Ohio Creek Prospect".

So is the story that when they acquired the OC prospect it had a mining license in place but they also have to apply for a mining lease? If so, the application processes seem a tad redundant and the information provided in October seems a tad selective. Or maybe not. Hmmm, if a mining lease and a mining license are pretty much the same in Guyana then either Troy management did not know exactly what they bought when they acquired the OC prospect or they were gilding the lily with their spruik in October.

This one might have to go in the dubious claims category along with aspiring to put out assay updates every two weeks regarding OC, and OC might just be a 500k oz operation.

Just a reminder the first OC assay update was 7 November and the 2nd one was 14 December so even if they put out a third assay update tomorrow the gaps between updates are more than twice what was promised at the AGM (yeah, yeah, it is up to the lab to prioritise its workload but if you cannot deliver you shouldn't promise in the first place).

Greatly looking forward to the documentation they release tomorrow: is this the start of a new day or just more good money after bad?

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Was anyone else at the AGM that heard reports every 2 weeks or was it just our over enthusiastic poster?

Not many other companies have fortnightly reports.

TRY Price at posting: 10.5¢ Sentiment: Hold Disclosure: Held
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