.. and can you do your magic on EPM 18463? The latest annual report says a renewal application in progress. Is Volcan involved with this one too?
The Exploration and Evaluation asset of $2,451,028, relates to the South Johnstone Project, Queensland, mining tenement EPM 18463. This mining tenement was set to expire on 25 May 2020. CGB has lodged the renewal application for the mining tenement with the Queensland Government’s, Department of Natural Resources, Mines and Energy (DNRME). The status of the tenement is therefore Granted (Renewal lodged). CGB have lodged the renewal application on time prior to expiry date and are now waiting for the DNRME’s decision. CGB is yet to be advised whether the renewal application will be approved. If the renewal is unsuccessful then in that event the capitalised Exploration an Evaluation asset cost of $2,451,028 will be fully impaired. CGB has no reason to believe the renewal will be unsuccessful.
CGB Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
