Ann: PASS and Quarry Updates, page-4

Well My summary of the Announcement is

1) NAGs has a tender in for MMR1 PASS, presumably with J Holland.
Probably won't be a lot in "Pre-Work" maybe in the order of 10-20,000 tonnes.
Just putting the tender in though means the ERR Approval is effectively in place.

2) ERR Approval has already been deemed as being met - based on legal advice gained.
I'm reading this as probably initiated by the ERR - saying why are you submitting this,
what has changed - nothing substantial, so the old Approval stands going forward.
NAGs have then confirmed it via legal advice.

3) Gravel Sales are being met & delivered. $184k for Feb (about 1/2 the SSC Contract).
Probably about the same for March (other 1/2 of SSC Contract plus spot Sales).

4) If they continue this rate with Gravel then years revenue would be $184 x 11 = $2m plus.
Other Contracts are being tended for & usually the first one is the hardest to get ... but we'll see.

The News could not have been any better I don't think, short of gaining PASS Contracts.
But then PASS Contracts haven't been awarded - for the Infrastructure Works.
So NAGs is "on track", a few more obstacles covered and on the way to meeting PASS Goals.

Didn't someone say yesterday there wouldn't be any significant news from NAGs for 12-18 months.
Guess if this is not significant, they must be expecting something really big in 12-18 months.