It will take a while before this process is completed. Then it will take time to get the right permits and approvals. We won’t be spending much money on this in the first 12-24 months I’d say. By then, Grandis would have evolved as well as Mongolia and our cash position might look very different.
With regards to why it warranted a TH, I just assume they follow the ASX rules. The tender information was made publicly available at the same time EXR was informed of being the preferred tenderer. This means that a niche group of people would have had access to information that the wider market wouldn’t necessarily know. This allowed them some time to draft up an announcement (and getting a designer to draft up the map).
A lot of frustration here, wow.
It will take a while before this process is completed. Then it...
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