Morning gassed, On the 1st Nov 2017, LNY announced: "Mining and...

Morning gassed,

On the 1st Nov 2017, LNY announced:
"Mining and Processing Agreement for Agate Creek
A Heads of Agreement (HoA) has been entered into with the operator of the Georgetown Processing Plant, Etheridge Operations Pty Ltd, to undertake mining operations at Agate Creek and process ore at the Georgetown Plant, which is currently being taken off care and maintenance with re- commissioning of the mill expected to be completed prior to 2018.
A detailed toll treatment agreement is currently being formalised between the parties, with the expectation of mining and processing still starting this year.
Other 3rd party processing plant options are also available and being assessed."

The bolded part above seems to me to be two separate parts to the agreement, in other words - mutually exclusive.

That being the case, perhaps EOPL would still carry out the "mining operations", and another party would "process ore".

Naturally, the T&C's of the agreement would change, for example, the revenue split above the head grade of 4g/t. Or even the threshold of 4g/t itself.

The ILUA is not problem, it appears to be a timing/co-ordination process. It make economic sense, that when the Mill is sorted, the ILUA will be executed.

IMO of course.