The Phillipson upgrade was excellent as they had to drill outside the Woomera Protection Zone. Cynical me thinks this was hurried to comply with the issue of ordinary shares for 2010 performance shares for former SAC shareholders on 31st March 2011.
The purchase of Cascade Coal Limited is far from certain as a mining licence has not yet been issued for Mount Penny. Planning Minister Tony Kelly has said he will not be hurried and scurried on this one, or words to that affect.
Bylong Residents are continuing their campaign citing that some drilling by Cascade Coal was not authorised and was drilled in the wrong area.
The original Cascade tenement was originally, or so it is reported by The Bylong Residents Committee, purchased by Messrs Duncan, Flannery and others for only $1 million. A big profit if they get around $486 million - this includes some expenditure on the tenement.
The Phillipson upgrade was excellent as they had to drill...
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