I can't speak for anybody else , but seems just a tad strange that when we had somewhat smaller amounts popping up on the Buy Side , and they were cleared virtually the same day......, and now we have a larger amount both in total at point 4 as well as at the front of the queue at point 4 , and nobody wants to sell into it at all.....
Maybe its got something to do with the expectation of news is to some degree way overdue now.
And you only have to go back to BOTH the announcements of 15th May and 20th May say that news relating to the mining lease would be LATER that month.
So allowing for the Kings Birthday public holiday , it has now been 18 and 14 trading days which have elapsed respectively from those TWO announcements and is now is in the overdue category and only growing. What's with that Management.
Interesting that in the 15th May announcement , they stated in their timeline that MRE was planned to be undertaken SHORTLY , but in the 20th May and only four trading days later was stated as they " Move towards the Maiden MRE "
Another point of interest here is the inclusion of the ' Application for the miscellaneous license for the Northern road access to gazetted roads for the transport of ore to processing plants.
Now this process has varying processing times from the moment you apply online and then submit your form 21 to relevant parties including any pastoralists. It's the next stage of this process which gets a little interesting. Because after you have submitted your application , you have to submit ALL relevant works details which include construction methods and overview of the proposed operations.
After that , Main Road W.A has to conduct a site visit and assessment which can take up to 3 Months to finalize. After that , a permit is issued which as I understand comes into effect 21 days after the issue date.
So my issue here is that it would seem that in order to provide an overview of the operations and methods of proposed mining , you'd have to at least have an MRE completed so you could talk about overall tonnages and NOT just a random figure you'd like to hope for.
So that would hopefully put an MRE to have been completed no later than 35 days from the 15th of May which would bring us to TODAY's date....Hmm. That's 35 days right ? From the time of application which I assume was 15th May and NOT earlier.....
Maybe these Guy's ( the BOD ) are having us on . Because something just doesn't gel here .....on the timelines put to us.
(20min delay)