The environmental studies were meant to be done and dusted in March 2018, but because of delays it was pushed past the March completion time and the new law came into effect regarding the recommendation of a public hearing by the minister. Now they are saying environmental permitting will be finalised in early 2019 which is 1 year delayed.
DFS could potentially be 3 months late (most likely 1-2 months) but this doesn't seem of much consequence as engineering and design, off-take/finance, as well as any purchasing of long lead items will be able to be done during Q4 2018 and Q1 2019 to finish in line with environmental permitting.
Overall project construction might have been pushed out 6-7 months from their timeline published last year. When you buy into a spec delays are a given so nothing to be too disappointed about. I was hoping for a max of 3 months delays but I can live with 6. Overall a good presentation and I hope it bodes well with investors at Noosa.
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The environmental studies were meant to be done and dusted in...
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