You will see that the causeway providing access to the area required for the port stockyard is held by Mr Palmer under an agreement with the state. The agreement is referred to in the document as IOPAA. I looked a the agreement and guess what. The stockyard area is also held by Mr Palmer under an area called Area D.
Palmer has to surrender Area D to the state but I'm not sure that has happened. When will this happen? Has Palmer been asked to surrender the area and if so when?
The port issue appears very murky.
If Palmer wont surrender Area D then a new access road will need to be built and a new stockyard area will need to be found. That will make the environmental approval invalid and in my opinion a different project and will need to be reworked and reapproved.
IOH Price at posting:
90.0¢ Sentiment: None Disclosure: Held