Ann: Muga Potash Project - Update, page-3

There is a deadlock between political parties in Spain and this has been going on since the December 2015 elections.  So the Highfield team has asked the government bodies as to the status of the approvals decision.

1. The Company is currently seeking written feedback from MINETEUR and MAGRAMA on the following :
   1. the status of the DIA; and
   2. whether the DIA can be formally granted given that no political party has been able to form a Spanish Central Government following the 20 December 2015 Central Government election.

The question is can the mine get approval without there being a Government in place. Good question.
Either the political parties form a government within the next two months, and by 2 May at the very latest, or new elections will have to take place on 26 June. There is no guarantee that the existing stalemate won't be replicated.
So if the decision is that the DIA can not be formally granted until there is a Spanish Central Government, then does this mean that everything stays effectively stalled until this happens?
If the DIA is favourable and granted then this is a huge green light. Stock will $2.50 in the blink of an eye.
If we are left waiting on the outcome of the Spanish people to engage in a new election and see what happens after that, this is something I would prefer to watch from the sidelines and wait for clarity before investing.
Good company, good projects, good management, tricky politics.