Glass Half Full

QBL, is so much closer to having the MDL approved and finalised than many realise. Whilst myself included, we have been so bullish on the MM/Pot news we received the other day, I hadn't taken the tome to analyse the MDL update properly until earlier today.
Whilst my initial thoughts where, he we go again, another delay, BUT, after reading through the details again, I am more convinced now than ever before that the approval is not IF, but, WHEN.

My reasons for this are simple, all the way through the MDL process it was made clear that the DNRM needed to approve the MDL and THEN QBL would need to submit the final application to the EHP department for approval. In the announcement it states that the following ( this has been taken directly from the announcement.

"The Department of Natural Resources and Mines (DNRM) have decided to withhold decision on grant of the MDL until the issues raised by EHP have been fully addressed. QBL’s technical, engineering and environmental consultants Northern Resource Consultants (NRC) and Sea Transport are currently modifying the reports and work program in accordance with the matters raised by EHP and DNRM. It is anticipated that these reports should be resubmitted to the Department in the coming weeks. The Company is confident that the revised reporting should give the DEHP and the DNRM the confidence to finally grant the MDL."

The positive is in the negative, basically the DNRM are withholding the final decision until QBL has clarified a couple of matters concerning the EHP.

Here it is here from the announcement-
"Following review of Northern Resources Consultant’s 177 page submission to vary the conditions of the Environmental Authority held by Queensland Bauxite Limited (QBL) – i.e. those conditions enabling QBL to conduct its South Johnstone bauxite pilot operation at Camp Creek - the Department of Environment and Heritage Protection (DEHP) requested further clarification on a number of matters."

My conclussion from this is that DNRM have come back to QBL and asked them to clarify the details for the DEHP and we will make our final decision, once again my opinion is that the DNRM are simply waiting to say YES the MDL is approved once the all clear is given by DEHP.

Very long post, these are only my opinion, please do your own research and make your own decisions.