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I was told that Sri Lanka can be notoriously slow, even at the best of times, never mind the pandemic.
I re-read the recent annual report. It is worth reading to get a sense of the amount of work that has gone on behind the scenes ranging from environmental through to community to benefits for the country itself. Very impressive to be fair and bodes well for the future in terms of this being a proper outfit that covers all angles. I don't doubt that they have done everything to build bridges and influence within the country. So this EIA and IML will be just rewards. Fingers crossed.
I agree LW, probably even more bullish than you.
SO the frustration here for all of us that know how good the ACTUAL story is (as opposed to the POTENTIAL story, evident in many junior explores) is very real. We know how good the project is, we await news from drilling as to how much better it may be about to be and we just need the government bureaucracy to announce the official go ahead.
In a country crying out for foreign investment they can't afford too much procrastination.
That's also how I'm feeling because of the following:
On reflection (or is it speculation?) the one thing I feel reasonably confident about is that CMET have NOT received any negative news re the outcome of the TEC meeting. I say this because if they had, I don't believe they would have launched into a drilling campaign, nor told the market in RNS that they are expecting approval, nor would they be doing promotional media interviews/events. That just wouldn't make sense and you would instead get radio silence whilst they figured out what to do next.
Therefore, and based on the above, I think CMET either 1) don't know what the TEC has recommended (even 3 months after the TEC meeting?), but have no reason to be concerned, or 2) they know that the TEC has recommended approval.
The recent RNS quoted MF as saying that he was expecting "timely approval."
That's certainly how I read it. I'm feeling cautiously bullish
That's the second time they have moved the TMS interview now. They are clearly expecting news to land within the next fortnight, so I would imagine that we might get a RNS within the next 10 or so trading days?
I notice 1-2-1 Mining still have not published the CMET presentation although they've published quite a few from the conference. I wonder if CMET have also put a hold on that until 'early November'
so I notice the tweet doesn't give a date, merely says 'early November'.
To me that SHOULD be before November 10th.
Now early November. Suggest to me they want to get some news out before to have something to talk about. Next 10 days or so you would think.
LW
David Burton confirmed it on twitter 4 days ago.
I hope MF confirms there were no issues raised by the TEC (or is asked about that by SF).
Are we definitely expecting the TMS interview this week? Can't find anything on their twitter....
I've given up speculating. It's October 26th FFS! (Pardon my frustration)
I hope MF is given a thorough grilling by SL @TMS this week.
Should say "delays AREN'T just"
Yeah, I think that's the case on the podcast however the delays are just covid related.
There are EIAs that had their 30 day consultation a month or more after us and their EIAs were approved (as per the press releases). Obviously ours is larger/more complex and therefore potential for adjustments/changes are much more likely. This isn't just a covid delay, there's obviously issues with the EIA approval, nothing wrong with that but not addressing that is not on imo after such a delay.
I agree with PaulFG that the "one month" comment was made because the TEC meeting had finally met in July. From there, there was every reason for MF to hope that the EIA would then take another month. The same goes for now, in that lockdown was lifted at the start of this month, so again there is a reasonable expectation that the EIA will land within a month or so of this. As for the drilling, still think it's early days to be expecting that we should have had a RNS about it by now, and in any case, there is no reason for CMET holding back on drilling updates. Maybe both updates will arrive in one RNS. I hope so.
But whatever happens, we will be getting an update through the TMS interview, so it makes sense to wait for that and see what is said if we don't get a RNS beforehand. What else can we do really?
Four days left until TMS interview remember. If you look at the historical RNS's they are nearly always released at 7am. So you know if no RNS released first thing in the morning, then you will have to wait another day.
Within a month don't forget.....
That statement gets more laughable the longer it is, he must regret saying it.
let's face it we've all had a bit of a grumble. I had high hopes for October - so much potential. I know it's not over but...
Justified though.
Another day, another grumble from Daltp98…
So tomorrow will have been 21 days since drilling commenced. I expect there will be more delays as ever with this company, we will see. A very quiet day today for cmet. About 8 weeks until Christmas, I wonder if we will get any tangible news before then?