Ann: Market Update - BCL Joint Venture, page-7

@micky78 i think you have mis read the report


WorleyParsons Limited (ASX: WOR) have been appointed by the Joint Venture and are in the process of completing a Pre-Feasibility Study ahead of a decision to proceed to a Technical Study and an Environmental Impact Assessment, as required by the DOM, to support a Mining Licence application.

The Pre-Feasibility Study is now expected to be completed in the first quarter of 2016. (On track)

Accordingly BCL and BML have agreed that BML will apply for an extension of the three PLs pursuant to the Mines and Minerals Act 1999 of Botswana (as amended) to allow sufficient time to complete the necessary detailed reports required to support a Mining Licence (or Retention Licence) application should the Pre-Feasibility Study justify BCL approving such an application.

IMO this reads that the pre feasibility is on time however they are asking for an extension for the DOM (decision on mining license)

The Board of Botswana Metals Limited (ASX: BML) advises that it will apply to the Department of Mines in Botswana (“DOM”) to extend PL 110/94, PL 111/94 and PL 54/98 (“the three PLs”) ahead of the licence expiry date of 31 March 2016.