Hi Windsor, I agree and am sympathetic, but the irony is that the govt handed over the gas acceleration $ but have been dragging their heels on other stuff (permitting etc). I know on at least one occasion the goal posts got moved a bit in terms of what environmental approvals were required. Some of this stuff is at the absolute line item level and based on conversations between DNRME staff on site, so I can see why EWC are not commenting beyond what they have already, as it would be too granular and could change with the next govt officer on the ground. Having said that, there has to be a bit of a happier medium in terms of details. All I can add is that in the last quarterly, they had made progress on some of their permits:
"We have received approval from the Department of Natural Resources Mineral and Energy (DRME) to our applications under the 1923 Act for PLA numbers 1111 to 1114 from July 2021 to July 2051 (30 years). Furthermore, we are in the process of renewing PL184 (Thylungra) and this has been given the new PL number of 1115."
As of today, PL184 is still the current permit with an expiry of 12/9/2021 and PL 1115 is still shown as the new (replacement) permit (application status): They have applied for another 30 years and given they 've got that for the others, common sense says they'll get it for this one too: But, as I've said previously, we never quite know what is outstanding and how long things might take. But maybe they don't either! The other problem was that they were going to bring in staff from Indonesia to operate, but COVID ruined that, so they've had to recruit locally, with those higher wages (I assume), and then suffer the bureaucracy here too. We all like to bag Indo and Philippines for dragging the chain, but I reckon over here is just as bad, if not worse.
EWC Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
