What other stocks are you talking about? When? and were they...

What other stocks are you talking about? When? and were they also in South Africa?

1. Milestones relate to drilling and proving up the resource. The milestone targets can be found in earlier releases, the bee owns the resouce and signs off on the release first. Then an application is made to the Regional Manager of the Department of Minerals and Energy in the region in which the land is situated. Im pretty sure the requirements below will have already been met so its probably sitting with the Ministers dept.

The prospecting right will be granted if the following requirements are met:
the applicant has the:
funds and expertise to conduct the proposed prospecting operation optimally
financing plan is compatible with the intended prospecting operation and for the duration thereof
applicant is able to comply with the Mine Health and Safety Act
applicant is not contravening the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002).
no other person holds a prospecting right, mining right mining permit or retention permit of the same mineral and land
no unacceptable pollution or damage to the environment will occur as a result of the prospecting operation.




Reading one of the announcements it seems they are waiting on Ministerial consideration. According to

http://www.universalcoal.com/im/press/2011/UC-Brakfontein_Coal-Press_Release_8dec11.pdf

they own 22% in Bernice and Somerville. 10% in Cygnus and 15% in Donkin.



Service standard

If the Regional Manager:
does not accept the application, you will be informed in writing within 14 days and return the application back to you
accepts the application, you will be informed within 14 days to submit an environmental management plan, and to consult with the landowner and legal occupier of the land as well as any other affected party.
You must submit a written outcome of the consultation to the Regional Manager within 30 days.
Once these requirements have been met, the Regional Manager must submit the application to the Minister for consideration.

http://www.services.gov.za/services/content/Home/OrganisationServices/permitslicencesrights/Miningandwaterone/ProspectingRight/en_ZA