Of course we will try to expedite the process however people have to understand that the EPA does not have statutory time limits like nearly all Government departments. If they want to delay anything they can, and for as long as they want, that is simply their right.
We have estimated a two year review and approval process. Maybe it will be shorter, however in my experience it is better to assume delays than assume we will get approval early.
If shareholders don't like the timeframe there is no use complaining to the company. Write to your local member...especially if you live in WA. I have complained about it to the highest leves of state politics for many years (ie: Portman while I was CFO, it took 4 years to get approval to remove a weed from an orebody).
It is what it is, and when we have to monitor for several seasons microscopic things like stygafauna and troglafauna deep down in the water table and above it for over more than a year then you know that the environmental process dictates the time taken to get approvals. Funny thing is that Australia did not go into recession during the GFC because of the mining industry yet it takes forever to get a mine up.
There is no use worrying about it, all new projects have to go through this process.
Another thing that shareholders may not know.....
The EPA does not approve or reject projects....only the Government can do that. The EPA makes a recommendation after extensive consultatiion with the mining company, and the Government ways up their recommendation with things like ....native title (ie the benefits the Mayala will get), the pros and cons for the local community (ie Broome and Derby), the employment, the royalties etc.....
I have no doubt the project will get up....we just have to do what all other want-to-be miners have to do and that is follow the process.
Cheers, Tony.
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