Yep, getting the HL operational I reckon is the key that unlocks the next level for OZM. This is where OZM has the competitive advantage - on ground gold operations. The last update we got was in the Quarterly market release back on 24 April (see below). Look how they say that the mine design and site layout is almost complete. Given that there's already a granted mining lease in place, I'm assuming that all they have to do next is lodge a Mining Proposal with DMIRS. Should take about 3 months to get the approval I reckon (if REZ's experience is any guide). Assuming the mine design and site layout was completed by 30 April, and they lodged the Mining Proposal on the same day, around 3 months after that would take us to about late July to early August. So, my guesstimate is that the trial mining operations may start straight after that (probably August sometime).
Assuming the DMIRS approval comes on 31 July, and they start-up trial mining operations on 1 August. Say it takes about a month to dig the pit and another month to set up the HL and another to process, and yet another to sell ounces, then account the following month etc - so maybe before Christmas they could be in line to possibly receive a net payment I would speculate. If they can do 1,500 ounces in the first go, I guesstimate (at a margin of A$3,000 an ounce), OZM could possibly be looking at something like A$2.25m net to them just from the initial go. Obviously, I'm assuming minimal capex (use existing portable crushers etc if JV partner has them otherwise rent). I'm no geo or any expert of the sort, so this is only my speculative guesstimate as a rank armchair amateur haha! AIMHO (DYOR).
