Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
POG ticking up to that $2000 mark again - nicely timed for the first pour at the end of this year if the environmental permit isnt too much longer!
Can't be long now. News could drop any day, then its full steam ahead to first gold pour and big cash flows to grow the business. Very exciting times for GRL.
I’m sure with with background of the 2 x main shareholders. I doubt there would be a slip up on the permit / licences being granted . I don’t think the next news will necessarily see a large spike in the SP . I would imagine production will be key . EP seems very confident about what the mines can produce . Lots of money can be traded on speculation . Real gold is where the money will be .
I’m a novice at this just merely offering an opinion on the way I see things .
Good spot Trek. Agreed it does seem like it goes back and forth for some minor tweaks as opposed to a blanket rejection/re-submission which is good!
As you also rightly say, 14 approved permits in a country that is very pro mining bodes well bar any catastrophic unforeseen circumstances. Should be close to the front of the queue, so any day now.....
jdt1990,
Good point this is in the chairmen’s statement in the finals published 30th June....
“The Company is now working closely with the Ghanaian Minerals Commission and the Environmental Protection Authority to finalise the environmental permit.”
So there has been obvious delay with covid but we know that 14 applications have since been granted so we should be close.
Wish I could find a status page somewhere, been digging but nothing.
Obviously the main consent was the DEP which was agreed in February so shouldn’t be an issue. I think the way they do it is to bounce anything back for amending or clarifying rather than just rejecting it unless it really misses the mark, that speeds the process up and the Agency get to see their concerns are baked in. So shouldn’t be long now.
Trek
Hi, taken a position over last month, new to this area so cannot contribute to board at present but will pull myself up learning curve rapidly. K
Only waiting for that that last permit to be issued and it's all systems go here for major cash flows in very short order. Expect to see major fireworkd as soon as news hit. Production couldn't be starting at a better time with gold over $1900. Cash from production should make further exploration and expansion of the resource self financing. 600Koz is already a decent sized JORC resource especially at this market cap, but give it another year and we could be sat on a lot more than than and all with excellent cashflows. Looks like a gold miner with excellent organic growth potential with everything about to kick off. GLA
Trek - this is from the 22nd June RNS so it must have been submitted in June. On the basis of your 25 day turnaround we are well overdue this news so I am hoping there are no major delays/issues here (or we are classed as large scale but that is unlikely)
Hopefully it comes soon as production has been “promised” in Q4.....
The application for the requisite environmental permit in respect of the Homase South Pit has been submitted to the Minerals Commission and Environmental Protection Authority in Ghana is now in the final stages and the Board expects it to be awarded in the next few weeks.
21 day’s for approval....
http://www.mincom.gov.gh/acquiring-mining-license
17th July RNS ... ‘few weeks’
“The Company continues to work closely with the Ghanaian Minerals Commission and the Environmental Protection Authority to finalise the environmental permit and the Board expects that the environmental and operational permits will be awarded in the next few weeks. On receipt of the relevant permits, the Company will be in a position to immediately commence mining operations at the Homase South Pit, utilising contract mining, and construct the heap leach plant, with the target of achieving our first gold pour in Q4 2020.”
How long does a permit take...
“Answer: Small and medium scale impacts project will take twenty five (25) working days whiles large scale impacts project will take ninety (90) days. This is exclusive of the clients’ action.”
http://www.epa.gov.gh/epa/faq
Ours is not large scale.
So 25 working days is 21st August assuming submission was 17 July
If the submission was a week earlier then it’s 14th August..
Either way not long to wait. No wonder every opportunity being used to keep lid on SP!
Remember
“Whilst the lease initially only relates to the Homase South Pit, the DEP has been approved by the relevant authorities in Ghana in its entirety and the lease can therefore be renewed and/or extended to include additional pits along the Homase Trend as the Company's production plans advance.”
And we are financed and will be drilling deeper. Permit = all systems go for first pour Q42020.
Trek