the full monty, page-8

Hi GG, I was actually just reading the legislation yesterday checking something for a client. You can submit either a Mineralisation Report and Supporting statement, or a Mining Proposal which must include a JORC compliant resource, the mineralisation report is the simpler route, but it does need to be signed off by a CP, but doesn't obviously need the bells and whistles of a JORC compliant resource. The two routes are chalk and cheese, one can be quite fluffy and general, ie, I thing we will put a plant over here, but I'm not sure what it is yet, or a full Mining proposal with plant designs and layouts.

And Shady, in answer to your questions;
1. Yes you the foot print of a known deposit like De Grussa is surprisingly compact and you always give your self plenty of room for extensions, if by chance you don't then you own the tenements along strike etc and simply convert them. It's never an issue to generate Mining Leases when you have an economic deposit, unless you have native title issue or low hanging tree huggers.

2. Yes they will need a new mining lease for Monty, if they aren't preparing one now then they bloody well should be. I can be done to get one granted in 6 mths, if you have a current NT agreement like SFR does, their ML over De Grussa took about 9mths from application to grant.

3. so yes, a new ML is needed, if you can demonstrate really good continuity and mineralisation and infrastructure requirements you can convert large areas to ML's. However your rents and expenditure requirements go up 10 fold so you really want to make sure your happy with the new commitments before converting. ML's are good in that you get 21years rather than 4 for an E, but if your working the ground you can always get extensions.

Hope that answers the question, I've had a beer by the time I finished.

Tubber