Ann: Investor Presentation - Bell Potter Unearthed, page-55

Smart to wait for the Minister's signature.

As a real estate developer in a previous life, I can tell you that until you have all of the I's and T's dotted and crossed, then you have absolutely nothing.

Even when approved, conditions may be onerous and untenable making an Approval impractical.

I can think of two instances lately where late minute approval delays are a problem.

STO (I hold a few) on the NW shelf. Last minute objection from Aboriginal Land Councill about "undersea cultural issues".
One of my neighbors is in Merchant navy and he and 200 others have been laid off indefinitely as a result. Delaying a massive project.

Also, SVL in NSW waiting for an Approval that is "imminent" and has been for twelve months or so.

I had some shares in SVL for two years and sold out about six months ago because of the delay. I sold for 20 cents. Today, they are about 15cents.

Unfortunately, there is an election in NSW in March and governments can play political "footsy" with these sorts of things.

What gets me the most with these approvals, are these last-minute objections.

If the applicant has to play by the rules and meet time deadlines, then objecting parties should also.