As I understand, the "invitation to submit" is pro forma. It's just a way of saying that the line ministry (in this case MONREC) has to determine that all the paperwork is in order before an investment proposal goes to MIC. That determination is an invitation to submit - "ok, we're all done here, now you go to MIC for the final approvals". Also important to note that the time-frame for MIC approvals varies. It can take up to 90 days, but in practice MIC has been working more quickly than that, and MYL submission shouldn't be a particularly tricky one (for example, no complicated land titles to work out, as the land in question has been a mine for a long time). My own feeling is that 6-8 weeks from submission to approval is a reasonable time-frame to think about. All IMO, etc.
MYL Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
