General comments/chat, page-13411

Regulatory update

Dear fellow shareholders of ADN,

Further to my earlier posts on the topic, I thought it might be useful for everyone to provide a further (and, all going well, presumably one of the last) updates regarding the progress of the new Mining Regulations 2020 (SA).

As we know, the Regulations will underpin and speak to the revised Mining Act 1971 (SA) and related legislation and both were slated to commence in January 2021. ADN's mining application is correspondingly due - as noted by the company and James Marsh on previous occasions - to be lodged by February 2021 and once the new legislative and regulatory framework is in place.

There have been 2 noteworthy updates as at 19 and 20 November 2020, respectively:

1. The Mining Regulations 2020 were gazetted on 19 November 2020. This is excellent news as it means they are now "official"!

The Regulations will officially come into effect on 1 January 2020 as noted at Regulation 2:

"2—Commencement
These regulations come into operation on 1 January 2021"

You can view the South Australian Government Gazette dated 19 November 2020 here:

https://governmentgazette.sa.gov.au/sites/default/files/public/documents/gazette/2020/November/2020_088.pdf

You can download and review the Mining Regulations in their entirety here:

https://www.legislation.sa.gov.au/LZ/C/R/MINING%20REGULATIONS%202020/CURRENT/2020.300.AUTH.PDF

According to the Department of Energy and Mining website:

"Moving forward, DEM will work with industry and stakeholders on further non-regulatory matters in 2021 during the transition to the new regulatory arrangements. DEM thanks all stakeholders who have been involved in this process for their considered and valued feedback."

2. To mark this significant step, today the South Australian Minister for Energy and Mining today released the following public comment:

"Message from Hon Dan Van Holst Pellekaan, Minister for Energy and Mining

The release of the Mining Regulations is the final step of the South Australian Mining Act review, with the act and regulations to commence on 1 January 2021.

It will increase landowner rights, improve the state’s competitiveness across both the Mining and Agricultural sectors and promote further investment in regional areas.

The new Mining Act and Regulations are the culmination of a significant review to provide a more robust and modern Mining Act for South Australia.58 submissions were received from a wide variety of stakeholders during the consultation phase.

The consultation process used cutting-edge digital engagement tools and broad advertising to make sure that all could contribute despite the challenges of COVID-19.The review provides a number of improvements and benefits to a broad range of stakeholders.

These regulations deliver upon commitments made during the passage of the legislation, as well as making additional improvements following broad stakeholder feedback. Some of the improvements include increased public engagement requirements that reflect the expectations and concerns of local communities, stronger compliance and enforcement powers, and more information and support for land owners working with mining and exploration companies.

They improve landowner rights, increase protections for the environment and ultimately deliver more investment and jobs to regional areas in a way which promotes harmonious co-existence of regional industries.

The changes also mean landowners will have more time, more legal support, increased access to justice and stronger protections when approached by exploration and mining companies. Additionally, the new mining reform will increase the value of the state’s mineral wealth through revision of lease and license arrangements, streamlining regulatory measures, changing the way exploration license are administered to increase competition and turnover of licenses.

The enactment of this new mining legislation delivers important reform for the South Australian resources industry and forms an important step in improvements for this important sector."

The upshot of the above, in my respectful opinion, is good news indeed for ADN - as it would appear the new statutory and regulatory framework is now "locked in" and there is no associated hold-up with regard to that process now expected and that may impact on ADN's ability to lodge its mining (or quarrying) application by the date foreshadowed.

Hence it would really appear to be all on ADN now - and no doubt this most important step forward towards production at Great White will be approached by the company with the same diligence and thoroughness that appears to have characterised all of its recent endeavours.

The above represents my own commentary and should not be relied on as advice in any form. Very best wishes to all shareholders.