Ann: Quarterly Activities Report, page-48

Alright, I am as frustrated with this as you guys.  So to get myself some perspective, I put a timeline of events together:

Looking at this, I believe LNY Management simply expected this to move a hell of a lot faster. But I don't think they have given definitive timelines.

In 2014, there was a bunch of drilling and at the end of the year, it started looking good.
In 2015, the ML was submitted and a bunch of waiting around happened.
In 2016, negotiations commenced, planning commenced... etc.  In late 2016 they said they want to wrap it up in 2017, but didn't say it will wrap up. It was a goal, not a guarantee.
In 2017 they had the massive negotiation piece and went to court etc etc with a land owner.  Only then can they start formal TO compensation and education/employment conversations.   This has been progressing throughout 2018.  
In 2018 they said, we will have this done in FY18.  That was black and white. FY18 has been and gone.  I believe this is the first missed outright goal.
In 2019 they said it will be done in FY19.... and here we currently lie.

So, overall, I don't think we have been misled, I just think everyone thought/expected this to all happen a lot faster.  Who thought the landowner would go to court over compensation? Obviously we aren't privy to the ins and outs of that negotiation.

TO will take a while. Meetings aren't regular, they need to consult and allow time to consult.  1 Key person absent from a committee meeting and everyone will sit on their hands...

Now I am happy to be corrected, but after reading through all of my notes, and getting perspective, I believe we are on track.

Now I am not discounting I think the communications could have been clearer, and that there seems to be movement of execs without much communication to shareholders on why.  Additionally all the fund raising etc, without opportunity of existing holders, therefore boosting main shareholders already huge share is disappointing, as I would like to be part of some of those deals.

We have had some good people at LNY come and go.  Part of this worries me, as the main shareholders believe this can happen and will happen, but our key staff to execute key projects are being poached, or getting bored as its taking so long.  So how are we going to execute once the paperwork is wrapped up. Do we have a succession plan?  An update on the details of how we will execute would be fantastic.

	Column 1	Column 2	Column 3	Column 4	Column 5
1	Date	Document	Grant Update	Mining Update	Change
2	1/08/2018	Quarterly Activities	ML Grant in FY19	Shortly After	Moved back a FY
3	1/05/2018	Quarterly Activities	ML in FY18	Shortly After wet season
4	1/02/2018	Quarterly Activities	ML in FY18	Shortly After wet season
5	30/11/2017	AGM	Compensation Finalised, now on TO
6	30/09/2017	Quarterly Activities	Progression with no timeline
7	19/07/2017	Quarterly Activities	Progression with no timeline
8		Native Title	Allowed formal commencement of negotiation
9	26/05/2017	Land Owner Lot 2 - Compensation Settled
10	1/05/2017	Quarterly Activities	Progression with no timeline
11	15/03/2017	Half Year	No update
12	30/01/2017	Quarterly Activities	Grant after Land owner and native title	Shortly After
13	29/11/2016	AGM	Objective in 2017 - Get ML, start production.
14	31/10/2016	Quarterly Activities	ML submitted in 2015, working on it.
15	1/08/2016	Quarterly Activities	ML submitted in 2015, working on it.	Shortly After
16	31/05/2016	Land Owner Lot 7 - Compensation Settled
17	1/05/2016	Quarterly Activities	ML submiited in Feb 2015, ML is key
18	17/02/2016	Agate Update	Appoint director, civil engineer
19	1/02/2016	Quarterly Activities	HOA worked on
20	23/11/2015	AGM	ML submitted in 2015, will allow to quickly move into production
21	8/11/2015	ML Acknowledged	Commence Negotation
22	2/11/2015	Quarterly Activities	ML submitted in 2015, working on it.
23	3/08/2015	Quarterly Activities	ML Submitted.  Early Days
24	1/05/2015	Quarterly Activities	ML submitted in 2015, working on it.
25	2/03/2015	Agate Update	Good drill results
26	25/02/2015	Agate Update	Lodged ML
27	2/02/2015	Quarterly Activities	Drilling @ agate
28	22/01/2015	Agate Update	Initial positive drill results
29	6/07/1905	Drilling updates	bunch of drilling upates, good and random results

Other Licences for additional context:
March 2015 - Still in TO (georgetown)
https://myminesonlineservices.busin...yReport.htm?permitType=ML&permitNumber=100028

Feb 15  -  granted 22/5/17 (georgetown) - Land owners in jan 16 (so 1.5 years from land owners to TO)
https://myminesonlineservices.busin...yReport.htm?permitType=ML&permitNumber=100026

Feb 15  - granted March 16 (charter towers)  - land owner Jun 15 (so 1 year from land to TO)
https://myminesonlineservices.busin...yReport.htm?permitType=ML&permitNumber=100024

Feb 15 - Still in TO - still negotiation land
https://myminesonlineservices.busin...yReport.htm?permitType=ML&permitNumber=100022

march 15 - granted May 17 (georgetown) - land jan 16 (1.5 years TO)
https://myminesonlineservices.busin...yReport.htm?permitType=ML&permitNumber=100031

So, if you want my call on when TO will be finalised... Late 2018.  1.5 years from last land owner settlement.   We have another 6 months boys and girls.   Wouldn't mind putting a bet it will be the Noosa conference.