From the chairman's address in late November 2011. Let's hope things are running to plan with these two news developments!!?
THAI COAL PROJECT –KA BER DIN Lengthy delays due to unprecedented political and policy changes and extreme flooding in Thailand have resulted in unavoidable delay in the granting of the Mining Licence in respect of the abovementioned project. All technical and environmental issues have now been satisfied and submission has been made for the endorsement of the Minister of Environment prior to being submitted to the Minister of Industry for approval and issue of the Mining Licence. Receipt of the Mining Licence is expected in the first 2 weeks of February.
As you are aware recent years have been extremely turbulent with world financial markets, political and climatic events resulting in unprecedented uncertainty and volatility. These factors have resulted in our projects being subjected to delays well beyond everyone’s expectation. We had hoped that we could have come to this meeting with the business change of direction to energy and minerals with the company re-construction completed. We can report however that fruition is now foreseeable within coming weeks.
EOR Price at posting:
0.6¢ Sentiment: ST Buy Disclosure: Held
