Chart Chat, page-974

http://www.alabc.com.au/News/ID/163...in-America--An-Extract-from-LATAM-News--March

Centaurus Metals

Centaurus Metals has moved one step closer to producer status after the Brazilian Department of Mineral Production approved the economic development plan for its flagship Jambreiro iron ore project.
The economic development plan is the primary technical document in the mining lease application and in conjunction with the previous approval of the environmental impact assessment, provides the basis for the environmental control plan to be approved and the issuance of the installation licence.
Centaurus expects to receive the installation licence next month, clearing the way for the company to commence onsite construction as planned in the second quarter.The ore reserve for the project sits at 48.5 million tonnes grading 28.1% iron.
Managing director Darren Gordon said the approval reflected the hard work of the company’s team in Brazil. “The team in Brazil continues to deliver against out timetable and we are continuing to work out way towards production by the end of the year, systematically ticking all the boxes required to allow the Jambreiro development to move ahead on time,” he said. “The focus on the approvals process can centre on securing the installation licence during the course of April, putting the company in a position to commence on-site construction shortly thereafter.”
The news comes after the company delivered a positive bankable feasibility study in November that outlined a low-cost two million tonne per annum project capable of generating revenues of $A836 million and earnings before interest, tax, depreciation and amortisation of $545 million over an initial nine year mine life.
Capital cost estimates came in at $136 million while average annual cash flow tipped in at $62 million.
The mining lease for Jambreiro can be granted any time following the receipt of the installation licence in April through to completion of the construction process and the receipt of the operating licence by the environmental agency, expected around December.

I'm confused can someone explain what happened here?