Good post Ponzi. You are actually right that an MDL is only for sample shipments; so any approval is ONLY for sample shipments anyway. My mistake there. An MDL is a QLD mining approval tier which is just below a ML, which is what any company needs to go to full scale production, anywhere in AUS. An MDL is step 4 of a 5-step process to mining approval in QLD.
So, the plan is still to go to measured resource for the whole 11%, but instead of requiring an MDL by March next year, we are looking at a ML (the standard term for a mining lease in AUS) for the whole 11%, which hopefully will be all measured status by then.
I believe that an MDL is only a tenement level term in QLD, but is often viewed as just a step down from a ML, depending on whether the mineral is considered commercially viable. Approval of an MDL is therefore a very solid additional step to applying for the mining lease for the whole 11% when the measured status is obtained, which I hope will be by March next year.
QBL Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
