Ann: Manganese Potential at Wilcherry Hill South , page-14

re: Ann: TRF: Manganese Potential at Wilcherr... I was curious about the approvals. I thought since we had Section 49 sponsorship it was federal approval required, but I re-read the quarterly.

"The recent Section 49 state sponsorship of Lucky Bay Common user Facility is a significant milestone in the IFE’s request to amend the existing development approval at Lucky Bay. IFE expects to receive the final Development Assessment Approval (DAC) during the next quarter. If granted, this will significantly reduce the project’s capital cost."

So it seems to be DAC (State) approval. From what I can tell here is the DAC website.

http://dac.sa.gov.au/

Couldn't find anything in there about Ironclad (or Lucky Bay, or Bulk Storage) though, and not much of any use.

Nothing here either:

http://www.sa.gov.au/subject/Housing%2C+property+and+land/Building+and+development/Building+and+development+applications/Major+development+applications+and+assessments/Proposals+currently+being+assessed

I thought that the approvals would have been done and dusted by now! I'm figuring that was the dig about Red Tape at the end of Ian Finch's item through Company Insight. Rightly so.


Kermit - totally agree about wasted funds on Tug and no renewed cost estimates updated DFS. Whilst IO pricing is variable the costs should be known. I am hoping that post approvals something is published.

With regards to SP needing to get a 1000% return. All comes down to what the company is worth. Current MCap $10M. If it can become a producer making $30M profit per year, then would it be worth $100M and therefore a $1 shareprice? Problem is - will it make a profit, and if so how much? This is where a tie in with the manganese could help.

All too cloudy to tell. That's why its not attracting new investors, and the SP remains depressed.