"I advised you last year that it was the Company's intention to negotiate with Mt Carbine Quarries Pty Ltd (MCQ) to purchase this asset. This failed to eventuate and we commenced a conciliation process with MCQ; as is required under the terms of the sublease we hold with MCQ. This conciliation again failed to resolve the issues around the sublease arrangement."
"Carbine has effectively ceased all operational activities at the Mt Carbine mine sithe and is on a care and maintenance program. MCQ has, we understand, put in a modified Plan of Operations to DEHP which is supposed to reflect this. Apparently, in so doing, MCQ has increased its "quarry footprint" on the site to now cover approximately 60% of the actual Mining Leases. This will clearly impact the scale of any future mining operations which can be conducted on this site."
