Re: SP stable @ 0.35....why?
in response to
by
posted on
Apr 26, 2016 05:23PM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
There was a conflict between the CLF proposed private road and the railway, because both were intended to run along the exact same narrow esker high ground. There wouldn't have been room for both there. A long drawn out court battle arose from this, wasting time and money, which resulted in a return to the original situation, with the Minister responsible for any decision as to use of the surface rights along the esker. Perhaps fortunately Mr Gravelle is no longer the minister holding that portfolio, as his original solution was to pass the buck to the Mining Commissioner, who decided in favour of KWG's rail proposal. CLF didn't like that, etc.
The conflict wasn't over limited available money, but over limited available high ground.
Now, however, the north-south road idea has been dropped, and the road under discussion will follow the much more sensible east-west route, serving the needs of several communities as well as the EN mine.
Don't be confused, two different roads, serving different interests. A private road going north-south, for CLF to run chromite trucks, and a multi purpose public road going east-west.