pvb, it is not a holdup with the Native Title. Just as the title was about to go through (before the previous options expired mind you) a "third party claim" came out of no where.
What has most likely happened is the previous owners of the tenement, Calcifer, are trying to squeeze some more money out of somewhere. As Ian said in his email, Calcifer where unsuccessful in their negotiations with the Native Title holders for 5 years, Mantle has come along and reached an agreement with the multiple parties in less than 2.
As soon as this "third party claim" has been resolved things will move quickly as in the time during the negotiations and the claim Mantle have worked in the background in preparation.
Take this for example:
Mt Mulligan Coal (Mantle Mining) Mt Mulligan is in very early stages of investigation due to lack of mining analysis data. Should the operation be a coal bed methane/coal operation (rather than coal only) then the time frame for commencement would be earlier. Similarly, the viability of the mining operation will depend on whether the coal is thermal coal or metallurgical coal. Metallurgical coal is three times the value of thermal coal. Port options canvassed have been between Townsville and Cape Melville. Coal is ideally transported in Cape Size vessels (80 100,000 mt). Coal can be exported in Handimax vessels (40 50 000 mt)requiring less draft.
FNQ MARINE INDUSTRIES CAPABILITY PROFILE December 2008 http://www.cummings.net.au/pdf/recent/J2103%20CE%20Marine%20Industry%20Capability%20Profile.pdf
MNM Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
