Joe, on environmental issues the relevant management plan studies are underway per release on 16 March 2011:
Environmental Studies The marine based environmental work in support of the Mining Licence application is continuing and Namibian environmental consultants, Enviro Dynamics, have been appointed to carry out the necessary scoping and consultation processes for finalisation of the environmental management programme report. In addition, with the identification of the preferred sites for the land based buffer pond and processing plant works, the environmental assessment process for these areas can now be initiated and progressed in parallel with other components of the DFS. ---
So far as I am aware the company is not expecting any project threatening risks on the environmental management front from Namibia. Not to say there is no environmental impact but comparatively speaking with actual mining it should be minimal and manageable.
The region concerned has previously seen some marine dredging for diamonds in shallower waters so the Namibians haven't been concerned there. Also it's my understanding that being fairly deep waters and covered in metres of this sediment the ecology of the area is sparse so there may not be much density of life disturbed. Finally the dredging process should have minimal impact on the actual sea floor and will involve sifting suctioned material on the spot with much 'waste' sediment being returned essentially immediately.
UCL Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held
