re: Ann: Coburn Project Mining Proposal Appro...
You are close zoomyjeff. The proposals were approved 4 years ago, including the environmental stuff but it appears the Departments move very slowly over there and they hadn't issued permits despite approving the plans.
The optimisation study done last year as part of the Posco negotiations led to a variation in the proposal (largely due to processing more material p.a I think) and consequently the departments have forced a reassessment. Pretty stupid really given it's essentially an unchanged project but that's the type of hurdles GUN has faced along the way.
At least it's just about done. Nothing dramatic for the market as it would have been assumed anyway but a positive for the company to get it out of the way.
GUN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
