Hi Christian, and the big one, a life of mine Special Mining...

Hi Christian, and the big one, a life of mine Special Mining Licence.

For those that are not aware, an ordinary mining licence only lasts 10 years and then can be renewed one time for a further 10 years. So if you mining licence was granted some time ago and say for whatever reason you don’t get to mining till 5 or6 years later then you effectively only have a 15 year period to mine. Quite often feasibility studies are done over a longer period as the delay not envisaged at feasibility stage, rendering some of the numbers such as NPV etc meaningless. That’s my understanding of them anyways.

So I guess that’s why achieving a life of mine SML was considered a key requirement of funders.Hopefully we are dealing with Tier 1 funders with all our work that was done on meeting Equator principles and other ESG requirements.