"I am not sure where POS management are with trying to change the agreement they have with the State about the processing of the gold. They wanted to have a new agreement in place so as to pay lower fees I believe. They have been at it for a number of years with the outcome ''expected soon''. However, they have been silent on this matter lately. Maybe they have failed in their endeavour? In any case, they should let shareholders know exactly where we stand on this matter. Otherwise, they were selling a dream and this amounts to unethical behaviour or even more than that. May be they have already said that this is not being pursued anymore? It is just that I could not find it in the reports I looked at."
Did you read the most recent Quarterly Report that was issued less than 3 weeks ago (23 July)? It contained a brief update. No new insights, but an update for shareholders, nonetheless. Needless to say, it's taking much, much longer than ever imagined. However, it's worth remembering that the termination requires an Act of Parliament that needs to be passed by both Houses, in order for the original Act to be terminated - far from trivial stuff.
I don't know enough about the intricacies the Poseidon Nickel Agreement Act, but I do know that treatment of gold tailings at Windarra cannot proceed until it is terminated. Once terminated a less restrictive mining license can be issued under the WA Mining Act. I don't think it has anything to do with paying lower fees. I think it's more about the current Act that Windarra is bound by being much more restrictive than normal for other projects that are usually managed under the WA Mining Act.
Fortunately, that's not central to the core investment theme atm, but it would be good to get that out of the way so we can unlock some value from those gold tailings.
(20min delay)