The status of the lease negotiations is one of the risks I...

The status of the lease negotiations is one of the risks I consider in relation to ABU. It would be cruel if ABU were ready to mine but unable to formally lease and operate the plant because of the conditions precedent. The TAM announcement on 7 July 14 noted some of the conditions precedent. The TAM release dated 7 July also noted:

1). The lease term commences once the conditions precedent have been satisfied, which both companies anticipate will take approximately 3 months but the Agreement allows for up to 12 months. So assume sometime in early July 15 that the details must be finalised or the expiry date agreed to be extended by both parties.

2). Once all the conditions precedent are met (or waived), ABU will take possession and commence management of Coyote and the infrastructure. The Company will conduct re-commissioning including processing up to 10,000 tonnes of commissioning ore prior to making the first year's lease payment of $2m.

As other HC members have advised that ore movements have commenced and commissioning is in progress, therefore I have assumed that the conditions precedent have been met or waived and ABM can formally lease the plant. If anyone has any more information on the status of the plant i.e. that commissioning is in progress then this is appreciated.

All matters IMO and DYOR.