Lots of talk about BHP / KRM alignment but nothing official yet!
Derogation permit from ministry of Environment for Penikat to land very soon and then to follow will be the submission of exploration permit with TUKES.
If all goes well with no objections in the next 3-5 months we will receive exploration permit for Penikat and start drilling by December. As I shared previously, mapping of drill pads and access routes are already established for the initial phase so it will literally be GO time. Additionally, in the background, further studies being completed to hopefully extend the drill period beyond March 2025.
I expect a significant rerate of the SP on approval of the permit and I suspect many on the sidelines waiting for this critical moment to occur.
IMO, SP to x2 /x3 before drilling begins.
Lots of talk about BHP / KRM alignment but nothing official yet!...
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