I watched MMI when they got their MDL application back it got referred on or referenced to the EA the wording also put the MDL in doubt straight away and then they had feedback within a couple of weeks that they would need a full EIS (Environmental Impact Study) I don't believe this will be the case here however I believe the time frame will be similar couple of weeks until full MDL approval it might even come out around the quarterly report.
If Sholom and Pnina haven't been idle then CBTIC should be able to source them a few customer refineries relatively quickly to ship too. All in all announcement is positive for sentiment IMO there's no reason they can't start proving up more resources as well. I'm not sure they have enough cash to progress this all the way from MDL to Mining lease though without going back to the market but we will see they can have a good Crack anyway maybe some of the options will be exercised.
IMO being first of the small cap bauxite producers in North Queensland is a feather in their cap whilst ABX is ahead they have to ship further and more costly and the size of the resource in Tasmania is 9mt. Their major deposits are years down the track, QBL is potentially sitting on a 200-400mt resource and won't need to create another mine for the next 40-50 years for example. I believe but not a geologist they the grade would have gone up at depth given their first results were closer to surface as the bauxite resource was depleted and would have mixed with other materials so waiting to see some of those results released that they've been sitting on for a year now.
QBL Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
