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Adnromeda (ADN) and all the Iron ore Magnetite hopefuls will...

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Dyno

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30/04/23

15:12

Post #: 67531428
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Originally posted by eastwest101: ↑

I wouldn't be investing in any explorer or developer with a project that's within 100km of Adelaide now. The minister has made a political decision and ignored the advice of the Department, I would expect resignations from the Dept of Mines over this.

Basically - SA is open to mineral exploration but not anything within sight of a population center or a winery. Obviously, some very well-connected people in opposition to the project in the notoriously insular and small South Australian state, and the Dept of Mines eventually ran out of reasons not to permit the project, and the minister made a political decision. Hilarious that the wineries of all people were complaining about the surface and groundwater effects of a small underground mine - have any of them seen the results of surface runoff and hydrological testing from what the wineries do to the environment?

Its possible TZN could try to take this all the way through the courts, but I think it would eventually have to go all the way to the High Court, and even then, it would be a brave High Court that removes absolute ministerial discretion from the powers of state government.

The SA Chamber of Mines and Energy should now query where mineral exploration is allowed in SA that will not fall foul of this new and unique interpretation of what is and isn't permissible in the state and that all exploration licenses and fees be suspended at any location where vague notions of other stakeholders interests could prevent a similar situation to what happened at Bird in Hand. They should force the SA government to draw a line on a map about where mining is, and isn't allowed, rather than having this haphazard ministerial discretion hanging over every project in the state. If I were a Rex Minerals shareholder I would be a bit concerned with the precedent set here. Their project will be the next one

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Adnromeda (ADN) and all the Iron ore Magnetite hopefuls will never get up.

Their charts say it all.

All imho.

TZN Price at posting: 1.9¢ Sentiment: Sell Disclosure: Not Held
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Last 8.0¢		Change 0.003(3.90%)		Mkt cap ! $169.3M

Open	High	Low	Value	Volume
7.9¢	8.0¢	7.3¢	$3.781K	50.95K

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No.	Vol.	Price($)
2	42253	7.1¢

Sellers (Offers)

Price($)	Vol.	No.
8.0¢	33785	2

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No.	Vol.	Price($)
2	42253	0.071
1	50000	0.070
2	180000	0.065
1	45000	0.062
2	70000	0.060

Price($)	Vol.	No.
0.080	25000	1
0.082	5000	1
0.083	253266	1
0.085	27500	1
0.086	100000	1

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