The price action is bizarre imo. How do people get their knickers in such a knot, it baffles me! There is not a thing included in the announcement that was not expected, and the announcement clarified that LMG has been correct for once with their timing forecast!
"amended the Company’s existing Pilot Project Licence (PPL000233697). The revised licence is valid until 2 February 2027."
This IS the draft licence we were expecting this week!
"The EPA may still have some comments which they will advise LMG by the middle of next week."
Not for a moment do I think the "comments" will hold things up at all.
"LMG are planning to recommence Hydromet operations, with work on August 4, 2025."
Blinkin next Monday! Meaning that operational staffing is set to go! How the heck is that not positive?! The timing is just as LMG had forecast!
"The first output of MgO and byproducts will immediately follow a period of operator training and familiarisation."
Whilst the timeframe for training is not stated, I have no doubt the plant will need to be in operation for that training. Anyone who has been trained in processing and operations is trained in an functional and operating system. With Tenova contracted to ensure operation and output volume and quality, the plant will need to be operating for training.
The output will "follow"
I'm going to confirm my thinking via a phone call, as I think people have it grossly misinterpreted!
Pat, I don't think the comments would relate to the Mg processing at all. It was infringements relating to systems/ administrative failure, for the loading, transport and receipt of fly ash. The overall aspects of plant operations, apart from fly ash, have never been communicated as an issue that the EPA had identified.
Remember, we already had EPA approval for all operations, so there is no valid reason to suspect anything else but the comments will relate to the draft and LMGs response.
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