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Gorsuch, The lesson from your last paragraph: take with a pinch of salt even PW’s Twitter announcement on expecting PEPR approval in this Q2.
Thanks Gorsuch,always a joy to read your posts/research.
Dotcom - They initially lodged a draft PEPR in May last year, this was done to get feedback from the DEM (Department for Energy and Mining) before putting in a full PEPR.
According to the RNS dated 1/9/2020, the DEM had requested further information be submitted for the draft, but after consultation with the relevant government department and their own consultants, SML decided to turn the requested information they should have submitted along with the draft copy into a full PEPR.
In the RNS snippets below they talk about consultation with, and encouragement from the South Australian government to put in a full PEPR, if that was the case!! How come the DEM after the full application was submitted, then turns round three months later and requests a further two lots of information? It doesn’t make much sense.
Taken from RNS Dated: 21/5/2020
The lodgement of the draft PEPR is an important step to full re-opening of operations and producing copper at Leigh Creek. The general regulatory process for a licence to operate is for companies to lodge a draft proposal which is circulated to relevant departments within the South Australian state government. This process normally takes around two months and feedback is then addressed/incorporated into a final PEPR lodgement. Generally, the process takes around three to four months from lodgement of the draft PEPR to the granting of the approval.
Taken from RNS Dated: 1/9/2020
Announces that the planned lodgement by Leigh Creek Copper Mine ("LCCM") of updated information to accompany the draft Program for Environment Protection and Rehabilitation ("PEPR") with the South Australian government has been delayed by a few weeks so as to upgrade the submission to a full PEPR application.
Previously, the Board had reported that it expected to provide updated requested information to the South Australian government in a draft form by the end of August. However, after reviewing the information provided, and in consultation with the relevant government department it was decided to delay a few weeks and lodge the information as a full PEPR application. The Company's consultants have recommended this approach and the Company was encouraged as it opens the way for a PEPR approval before the end of the year, subject to internal South Australian government processes.
Taken from RNS dated: 10/9/2020
Given the level of detail reviewed in the draft submission and the encouragement received to date by the South Australian government, the Company feels confident that an approval will be forthcoming before the year end.
What did the highly paid consultants miss first time around that needed so long to amend. When filling in the forms there would be detailed guidelines from the Environment Agency to follow or a quick call to discuss any problems.
These agencies are usually approachable to iron out issues before submitting an application so why is it taking so long with dedicated consultants on board?
So, predicated upon - at the very least - eighteen months’ worth of communications and engagements between SML and the SA government, involving exchanging copious amounts of detailed information on Leigh Creek, it would not be remiss to infer that the SA government possess enough knowledge to quickly approve the PEPR - unless, of course, our remiss BoD yet again fail to supply the requisite minutiae that would satisfy them.
Sorry Lupi - I think I failed to answer your main question.
As a rule 9 times out of 10, the "assessment competed date" is the same as the "approval date"
Lupi - The SARIG system was always updated daily until Covid hit, but I think it's virtually back to normal now, the info I put out last week was almost instantaneous.
When it's approved I think the info will be updated the same day, also, as far as SML is concerned that would be price sensitive information, hence it should appear on an RNS immediately.
What's not certain is the outstanding DEM information request dated 10/12/2020, from what I can see that request has not yet been fulfilled by SML, it may well be that SML lumped it together with the 22/12/2020 request, if that was the case I would expect the PEPR to be approved this week or early next week, but if the DEM is still waiting for that info, then it could be weeks if not months. The only people who can answer any of that is the BOD, don't think they are going to tell us.
Hi gorsuch. Do you think this is another case of them not updating to say "completed" or will it only say that once they have made a decision on our response?
It's definitely still on a 5 day forward roll, after 4pm your time it will change to the 18th.
https://map.sarig.sa.gov.au/MapViewer/StartUp/?siteParams=ApplicationStatusWidget
MPEPR2020/032
Leigh Creek Copper Mine Pty Ltd
Assessment
Target completion
17/04/2021
Will check again tomorrow and see if the date is "rolling" or static.
i do agree the Australian Govt want mines like this open, but it needs to be done right, lets hope all is addressed
We are where we are. We are waiting for a response from the SA Gov. If the response is to award the PEPR, we move forward and should tick up. If the response is a request for more info, we have been waiting a year so the price should be stable. It would be out of sync with the SA Gov's backing of mining for us to be refused.
Excerpt from an RNS from May 2020:
SML is pleased to announce that the Company's wholly owned subsidiary, Leigh Creek Copper Mine Pty Ltd ("LCCM" or "Leigh Creek") has today lodged a draft program for environment protection and rehabilitation ("PEPR") with the South Australian government.