re: Ann: Environmental Approval for Cape Pres...
hey doc
The document says, as you show "The existing causeway shown in Figure 1 will be used for access to Cape Preston. The land on which it is based is scheduled to be resumed by the State to facilitate the future development of multiuser / common-user port facilities at Cape Preston (outside of the IOPAA area)." The area talked about here is described as Area D under the IOPAA.
The IOPAA also says that the state can't "resume" land held under the agreement without the consent of the company.
I think the environmental document (IOH) got the wording wrong.
Can you imagine Mr Palmer's reaction if the state moved to "resume" his land against the terms of his agreement. Palmer has to surrender Area D (it can't be resumed) but when will that be?
IOH Price at posting:
90.0¢ Sentiment: None Disclosure: Held