The PPSA sets taxes or royalties or both, anyone throwing big money at this would need to know where it will sit with regard to investment payback. I’ve always thought the delay was manufactured by the Government for a reason, it could have been done reasonably quickly. What that reason is only they know, we can only speculate.
The fact SM said they are pushing it with the Government now might convey that things behind the scenes are ready to get moving.
Ann: IVZ launches Entitlement Offer, page-140
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