i was also at the AGM. With regards to the EIA process, what I took from the 'notification process' is similar to when certain mining licenses are granted in Australia.
At the conclusion of the process of granting certain licenses, the mining authority allows 'stakeholders' (as the company referenced) or those that maybe impacted by the license approval such as local residents, land holders and native communities amongst others, to formally lodge objections as to why they think the permit should not be granted. Yes they can be consulted beforehand but it's ultimately up to the respective applicant to engage them prior to build relationships and trust (which i imagine AGY has done given the numerous comms on investing in the community and local workforce). So by giving the stakeholders the ability to object prior to granting, it at least ensures that big mining companies can't come along and use whatever land they want (and how they want) at the detriment of local communities or 'stakeholders'. Mining authorities can obv overule any objection.
With regards to timing, there is normally a period to lodge objections as well as extension of time to do so. Further, if any objections are lodged, additional time is naturally required to assess them and determine an outcome.
So if my understanding is close to correct, when JZ mentioned in the AGM that it is perhaps a few months away or this 'upcoming quarter' per yesterdays ANN, i think it is referencing this part of the process.
On the presumption based on what we have heard over the last few years regarding our commitment to the people of salta and the communities, id like to think this is just a formality and this will get over the line no problem. If no objections, then perhaps we will get approval sooner rather than later. a final tick box that is required to be done.
AIMO of course...i could be well off.
AGY Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
