IMO only, Not the happiest Annual Report I have ever read. Big concern that the PEPR was submitted as draft Dec 17, More questions asked but the implication is that the company has not done the work to answer those questions and there is insufficent funding to do the work and there is no clarity on the timetable for doing that work and submitting the PEPR for approval? 8 Directors and 2 Employees? Maybe no wonder the work is not done?
Hope that I have missed on the interpretation.
The Feasibility Study enabled the PEPR to be lodged with DPC by 2nd October 2017
SA’s Department of Premier and Cabinet (DPC) and they provided feedback and requested additional information in December 2017
The cost of completing the approvals work has been defined together with land purchases required for project execution to commence. Current economic conditions are challenging in securing funding which will result in a delay to PEPR resubmission.
It is proposed that the Company will seek to raise funds per announced shareholder meeting for detailed mine and process plant design, a definitive feasibility study, and, ultimately, for mine development.
LML Price at posting:
1.2¢ Sentiment: None Disclosure: Held
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