Not sure why the company would bother spending money on all these studies when the last point was "Detailed assessment of alternative sites." Seems pretty obvious where this is heading. Did anyone else notice the huge farming project promoted by one arm of the NT Gov recently? Apparently it was to open up an whole new area for agriculture. Multi billion dollar project. Completely quashed by another arm of the Government this year as totally unsuitable on enviro grounds. I expect the same result with Middle Arm. The only hope of success I see is a new Gov comes in and dismantles the NTEPA hierarchy completely - leaving all final decisions with the new Minister. Which could actually happen.
PB needs a 50% pay cut effective immediately, and they need to lay off half the company staff until such a time they have a fully approved site and FEED study to progress with. What is the point in a 'GM Mining' , 'Exploration Manager'? They'll be scratching around doing busy work for the next 12 months.
Hilarious they've said the new EPA work would be in parallel with the FEED study, supposed to have been finished more than 5 months ago, and finance - which they've only had the last 5 years to organise....
Given PB's constant failures, call the EGM. Dump this Scott Morrison of the business world.
TNG Price at posting:
6.1¢ Sentiment: None Disclosure: Held
