TOE 4.55% 34.5¢ toro energy limited

You are speculating to the extreme. I don't know...nobody...

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    You are speculating to the extreme. I don't know...nobody does...call them up, get some assurances.

    All I can point to, is the text of the Ministerial Approval, clearly citing "substantial commencement" is required. And as others have pointed out, the fact that they haven't even applied for the secondary approvals yet. And that now, there is no time left to achieve the earthworks required.

    They are the facts. The rest is speculation. For instance, could the labour govt simply extend the approval, without any issues? Maybe. But, then why have a 5yr deadline?

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    McGowan said this in June, 2017.

    The Premier said those approvals, granted by the previous Liberal government, lasted for five years.After that period expires the companies would have to go back and seek to renew their ministerial approvals, he said.

    "I would hope they [the projects] don't go ahead," Mr McGowan said.Asked if his Government would be likely to renew those approvals once they expired, the Premier said legal advice would be sought.

    "Everyone knows our position is we are not very happy about these approvals, so the mining companies need to be aware that they have a potential deadline heading at them in five years from now," he said.

    "Bear in mind five years is a long time, I mean they've already had eight years of getting a project approved and another five years to develop it, that's a pretty reasonable length of time for them to get a project up.

    "If they can't do that then that's not our problem, that's their [problem]."

    -----------‐------------------------------------------------

    Could McGowan have changed his mind? Maybe. Could his legal advice be, that he can't stop the mines, even if they fail to meet "substantial commencement" on the 5yr deadline? Maybe.

    But, all of that is speculation. I only deal in facts. I could be wrong. DYOR.

 
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