Australia's largest stock trading and investment forum Australia's #1 stock forum

AVQ

0.00%

2.5¢ axiom mining limited

Date for final submissions, page-33

First 33 Last

Share
Profile

Follow
shane.hardy

3,012 Posts.

02/10/16

15:30

Post #: 19566881
Share

Originally posted by Consolidated Fuzz ↑

Hello Dutchie.
Sorry for the late response.

Deet's post says:
"The Ministry of Mines, Energy, and Rural Electrification is inviting inputs into its draft National Minerals Policy"
This says to me that it is a Government Department inviting Expressions of Interest into a draft policy that is designed to change the way that some Government law is being carried out.

It goes on to say that this policy:
"sets out the Government’s intentions for the mineral sector."

It also says:
"It proposes significant changes to a number of areas, including how landowners are identified for potential mining projects, who owns minerals, and how mining revenue is managed, allocated, and reported on."
As you would realise these are significant areas in the Mines and Minerals Act which are followed by the Ministry of Mines, Energy, and Rural Electrification.

For the Government to change the way it goes about dealing with the mineral sector in S.I. it will have to change part of its Mines and Minerals Act OR the Mines and Minerals Regulations which deal with how sections in the Act are achieved.

Therefore that says to me that it will be introduced as a Bill in the Parliament to change the way that mining is done in S.I.

It also says that it is a draft at present and that final EOI's will be accepted on the 21st of October.

That says to me that it will take forever (slight exaggeration) to get put through the Parliament because they have to collate the EOI's, probably have meetings with the respondents to explain how the decision has been arrived at, and then to make a final draft inclusive of the EOI's and to submit it through the Parliament for approval.
Once it has been passed as an amendment (probably to the Regulations) then it will come into effect once it has been gazetted.

That is what the article by the Solomon Island Broadcasting Commission says to me.

Also note that I don't think this applies to our current application that is before the S.I Government. In my opinion I think that this Policy will be enacted AFTER we are successful (or not) in having the Kolosori tenement handed back to us...(AVQ KB that is).

Happy to hear alternative interpretations.

Cheers.

Expand

Fuzz your absolutely correct ,it will form part of the Minerals Act , Its main purpose is to make sure funds derived from the Benefit of Mining back to the Landowners is correctly used by those people.
It Is a draft proposal that will be used after mining licenses and Pl,s are granted , this is well advanced in the process making it commenced not long after the High Court Challenge from memory when news came out that new tenements were coming up for tender and SIG wanted to change legislation to make everything more transparent especially where it involved payments to land owners.
we can all thank SMM for this new piece of legislation.I wonder how they will fair with their 2% non payments.

AVQ Price at posting: 22.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

ATH

Trial for Alterity's neurodegenerative drug ATH434 shows reduced disability

LRL

Labyrinth shares rocket by 219% on news of Comet Vale and Vivien gold project acquisitions

CTT

Cettire shares jump on FY24 revenue growth up 80% vs pcp – but stock still badly bruised

NWC

New World Resources inks complete PFS for Antler Copper Project in Arizona, USA

AI stocks: What to expect in 2024-25