3 separate PEP11 approval windows in the next 12 months, page-2

With the entitlement issue successfully completed, MMR is now at the top of the runway and about to be cleared for it's long awaited take off. It's not that long ago that PDF status had been lost, Scomo had refused the PEP11 applications, and MMR was in intensive care on life support. It's a credit to the BOD that PDF status was regained, Scomo's decision was overturned, and MMR gets to resume it's journey.

In the context of PEP11, the importance of the success of this issue cannot be underestimated. The current decision maker, Ed Husic, has issued a preliminary view that the applications be refused. To turn his preliminary view around, the first potential approval window, we must demonstrate that his concerns are not valid. Although not public, it is fair to assume that the concerns are the same as those raised by DISER for Scott Morrison. By far, the strongest "concern" centred around the groups ability to fund the drill, refer extract from the DISER advice below:-

"There is uncertainty as to whether the Applicant has, or will have, access toadequate financial resources to allow it to fulfil obligations under the titleconditions."

At the time of writing, December 2021, BPH was doing all the heavy lifting for the PEP11 fund raising. With MMR recapitalised and back from suspension, the argument put forward by DISER is completely dismantled. The combined resources now exceed $10M in cash and the uncertainty is removed. This is a major milestone for the prospects of PEP11 and a potentially fatal body blow to Anthony Albanese and Ed Husic.