Ho Hum wasnt this predictable by the TAhow the chart lies5 April...

Ho Hum
wasnt this predictable by the TA
how the chart lies





5 April 2005
Company Announcements Office
Australian Stock Exchange Limited
Level 20
10 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam,
STATUS OF RENEWAL APPLICATIONS FOR ERONGO AND SKELETON
COAST EXCLUSIVE PROSPECTING LICENCES
As a result of significant delays by the Mining Commissioner of the Ministry of
Mines and Energy, Namibia in addressing renewal applications lodged in
respect to the Erongo Polymetallic Project (EPL 2805 – 2811) and the
Skeleton Coast Diamond Project (EPL 2698 – 2700), and in the absence of
any official correspondence from the Ministry of Mines and Energy, Namibia
as to the progress of the renewal applications, the Board of Directors have
resolved to engage legal counsel to pursue the same.
Section 71(3)(a) of The Minerals Act (Namibia), 1992 provides that mineral
licences continue to remain in force until such time as the Minister of Mines
and Energy refuses to grant a renewal for the licence.
With the renewal applications for the Erongo Polymetallic and the Skeleton
Coast Diamond Project having been lodged in March 2003 and August 2004
respectively, and despite assurances from the Ministry, it is the Board’s view
that the period of time the Commissioner has taken to consider the renewal
applications for the Erongo Polymetallic and Skeleton Coast Diamond Projects
is inappropriate and unreasonable.
The Board of Directors will provide an update in respect to this matter as
further information comes to hand.
Yours faithfully,
Bradley Moore,
Chairman.
1st Floor, 47 Ord Street
West Perth
Western Australia 6005
Email: [email protected]
Website: www.reeftonmining.com.au
Tel: (61 8) 9322 7822
Fax: (61 8) 9322 7823
A.C.N. 010 546 675