Ann: Quarterly Activities Report, page-2

Native Title arrangements with the Traditional Owners regarding compensation, employment and training opportunities were progressed during the quarter and are nearing completion.


The Mining Lease Application (MLA 100030), which covers the high grade near surface Sherwood and Sherwood West Prospects, is still awaiting grant. This is expected during FY 2019.

Capital raising program, by way of the issue of ordinary shares and convertible notes, commenced during the quarter to raise $3 million to primarily fund the Agate Creek Gold Project including the remainder of the project approvals process, payments that will be due upon grant of the mining lease and to provide funding towards the mine development start-up.




All in all I think the TO agreements are near their end awaiting final sign off is my read. I also think they expect that to happen close to wet season therefore mining in fy19 after wet season.

They specifically call out capital raising was for agate which means that I think they believe it’s still good to go once formalised.

I know it’s all happening a heap slower than we want but the last hurdle of employment and training which sounds pretty much agreed is the final hurdle.