Ann: Boorara Stage 1 Feasibility Study Supports Development, page-33

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17/02/20

11:08

Post #: 42970571
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Originally posted by Voytek: ↑

Hopefully we'll apply & get some of the tenements FML is forfeiting;
acc. to today's ann.:
"Update regarding Focus’ Coolgardie and Laverton Projects
Focus Minerals Ltd (ASX: FML; Focus or the Company) provides an update on the Coolgardie and Laverton
Projects in relation to its applications for leave to proceed (Leave Applications) with applications for
exemptions from expenditure obligations (Exemption Applications) in respect of a number of the
tenements of the Company. Focus made the Leave Applications with respect to tenements subject to 9
applications for forfeiture lodged in June 2018 and a further 66 applications for forfeiture that were lodged
between the end of November 2018 and mid-January 2019 (Forfeiture Applications).1
On 14 February 2020, the Warden decided not to grant the Leave Applications and, as a consequence,
Focus is not permitted to lodge the Exemption Applications in relation to the tenements that are the subject
of the Forfeiture Applications.
2 As a result, this avenue of defence is not immediately available to Focus.
Focus is seeking advice from its professional advisers in relation to its suite of options.
However, the proceedings in relation to the Forfeiture Applications are continuing and Focus will continue to vigorously defend its position.
In the meantime, Focus continues to invest in its Coolgardie and Laverton Projects to add value for all
stakeholders, including the Company’s shareholders.
Focus will update the market as appropriate, consistent with its continuous disclosure obligations."

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How fortunate are we, not to be currently involved with them, phew!

HRZ Price at posting: 11.0¢ Sentiment: Buy Disclosure: Held
9 Upvote

2 Great analysis

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