When I spoke to a person from PIRSA a month or so back about...

When I spoke to a person from PIRSA a month or so back about obtaining documents from the Mining Register, I was advised that NTMA's are usually accessible, however the NTMA between Quasar, AGS and the native land owners is not accessible because of confidentiality constraints. That more than likely arises out of the terms of confidentiality in the deed of settlement.

The M&D C case is unlikely to have any bearing on the issue of the mineral lease, the issuing of which is governed by legislation. Clearly, an offer was made for the mineral lease, which supports the conclusion that the ongoing M&D C case is irrelevant in that particular process.

The Mining Registrar refused to register the "2nd NTMA" because AGS was not identified on it. There has been a suggestion that the delay in accepting the mineral lease may be as a result of AGS being taken off it. That would seem to create the same or similar difficulties with respect to the registering of the 2nd NTMA. If that is the case, it is likely that there is some interconnection between the exploration licence 3666 being in AGS's name and the requirement that the registration of the NTMA and (possibly) the mineral lease also having to be in AGS's name.

The registration of the NTMA was clearly the subject of the settlement with Quasar. I would find it very strange if the acceptance of the mineral lease and other matters so closely connected with the registration of the NTMA were not part of the terms of the settlement. If they were not, the deed of settlement could be rendered effectively useless if Quasar could then simply delay the acceptance of the mineral lease, refuse the terms offer or similar conduct that has the potential to frustrated the progress of the JV. I doubt AGS would enter into a settlement without ensuring Quasar are on a tight leash.

The extension is until the end of the month but there is no indication at this stage that they will require all that time. For all we know, they could accept the terms and conditions any day now and we could be surprised with an announcement in a week or so that the mineral licence has been issued.

Imagine being caught on the sidelines when if that happens!