Talei - buying was quite subdued before the initial JORC announcement last year either... Once again we have those who have bought placement shares wanting the price to move - so we are at their mercy - but hoping they give it a push north - if result impress the market that is.
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wessa - not trying to cause trouble but checked a few other notes I had made from earlier. Hope it is of some value.
Latest Nimrodel media guff in the following link, still points strongly to a Q1 release of the initial scoping study.
TRIPROP southern holdings require a scoping study as part of the buy-in agreement with Nimrodel.
This TRIPROP scoping study is - I believe - in addition to the one we are waiting for that will deal exclusively with the northern holdings and the maiden JORC coal.
Page 5 of the DJC report stated (in regard to the buy-in terms for the TRIPROP southern holdings)…
“NMR is earning 65% of these tenements by completing a two-phase drilling program and the completion of a Scoping Study by October 2014.”
I understand that the October 2014 refers to three years from the signing of the 11th October Farm-in/JV agreement, and that the TRIPROP holdings require a separate Scoping Study of their own.
The October 24th 2011 Nimrodel ASX announcement states that the Scoping Study only applies to PL035/2007, so I was assuming there would be a second Scoping Study for the TRIPROP farm-in/JV - after all the southern area drilling in done and further staged payments are made to TRIPROP.
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Yes I would imagine both scoping studies would be similar in many ways - but I believe they are two different items - released at different times.
Would not imagine they would delay the initial one - as the a Pre-feasibilty study for the northern holdings has to be done prior October 2012.
Please correct me if I'm wrong.
bsh
NMR Price at posting:
4.0¢ Sentiment: None Disclosure: Held
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