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The "sky is falling" stuff around the EIS delay for the mine,...

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    The "sky is falling" stuff around the EIS delay for the mine, and armchair criticism of management is a bit overdone, IMO.

    The facts are that management contracted a very reputable company to develop and lodge the mine EIS paperwork. It turned out that the NT authorities decided they needed more info about the effect of the mine on the water table - which the company is undertaking now. Requests for extra information can't be predicted. If management tried to gold plate the mine EIS submission it would have cost more and taken longer. It's likely the extra paperwork will be lodged in the next few months and everything will be ticky-boo.
    Also, the mine EIS delay will have no impact on overall timelines. Realistically, significant mine construction was never going to start until the refinery EIS is finalised. The refinery EIS was always going to happen after the mine EIS.

    Those who are complaining that management did not immediately keep us informed would likely have bitterly complained had the company done so. Imagine that announcement !
    "Hi shareholders, management here, NT EIA knocked back. They want some expensive drilling done. We are figuring out what to do. By the way, we are getting a bit short on cash and it might be a while till we can pay for the drilling."

    Wasn't it a wee bit smarter to wait until the capital raise was finalised and drilling had been organised ?
    Last edited by Dmasonic: 08/07/16
 
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