Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I thought we'd be sat around the 8 pence mark, at least. Not much to get excited about, but good news all the same.
@New5 - is it ever too early for Champaign??? ATB
Hi Croissant. Never in doubt!
ATB
@LB - the timing is perfect.
Bless the EA what lovely people.
OMG - what a relief!!!!
Those tea leaves never lie. ATB
Looking at the share movement, it looks like there are some big, probably automated sales followed shortly after by a big purchase. Fascinating the way it's moving. Lets hope it keeps heading upwards!
Well that seems to have done the job to the share price, so glad it wasn't bad news. It might as well have been with the impact it's had on the share price.
Great news! Lets hope we get a steady rise in share price and back to 2022 levels in 18 months!
Great news.
Interesting comments on HUKS mining contract and why they felt need to include this, but no comments on who will be doing the upgrade work?
Also noted the previous MD connection with Mining Plus, this is sensible given lack of technical staff at TW. Looking at Mining Plus linkdIn there are also a few other TW Alumni floating about.
Christmas has come early. So NG going was not a precursor to further delays or a negative outcome!
I think the funding will fall into place now that the last pre-condition has been met. Also give the APTprice has risen sharply the project economics must be looking a lot better. A new CEO and we are off to the races.
Cheers all, have a great day.
Special mention for Croissant, Thanks for carrying out your own due diligence.
ATB
Amazing timing! Cornwall mining conference starts today. Mining plus is JMcFs outfit - keynote speakers. Lucky coincidences maybe.
GLA
ATB LB
Well that came as a shock, can see this sp rocket up today.
@Gingy - it isn't a foregone conclusion. There are definitely still mechanisms in play which can terminate this project this month. Gawthorpe's exit was not welcomed nor managed well. The PR optics are very poor, the uncertainty it's induced and the timing are atrocious. However, the issuance of the MPF permit is looking less and less likely to be a point of concern. It's one less item on the list to worry about but without a doubt this is a big deal and very positive, if we're reading the tea leaves correctly. ATB
Gingy. That kind of practice is a good way to get free bed and board! The facilities don't usually come with star ratings either.
Personally, I don't think it's a foregone conclusion that after all this it wouldn't be languishing around 4 pence. The top brass would have got wind and see a push north.
@New5 - thanks for confirming. I was wondering whether we are now at the stage of when not if, regards this permit. NGs comment regards the last review which was performed after the draft permit was issued were along the lines that a permit which wasn't suitable was no permit at all. The EA issued draft permit was accepted by TWL, and the EA have set up this process so that very little changes been draft and final permit. It definitely is looking like they are crossing the t's and dotting the i's.
So from what I have read that given the ridiculous delays rather than press ahead and make and announce the decision on a timely basis, they might wait until after the election until announcing, or they might not? Typical lol.
Morning Croissant. Having followed that specific link I found no mention of rejection. I have also spent a deal of time trawling through the reports produced by the consultancy firm on the foot of the Gov site, It appears that any and all objections have been addressed in these .They also have looked at alternative process and seem more than happy with the one now in place.
We seem to be in the position of waiting for all the I's to be dotted and the T's crossed. While this may be a frustrating time, All good things and all that.
ATB
@New5 - if you follow that link - I couldn't find any entry on the EA site which contained a rejection. Perhaps you might wish to confirm this observation. ATB
I assume we all want the same outcome and the MPF to be granted. We need to be patient as there is no point catastrophising at this juncture. The decision is out of our hands.
I for one feel that the only noise i will care about in the end is the clinking of glasses.
ATB
Gingy and...
Water Permits
All infrastructure for comprehensive water management of the site was previously established by Wolf
Minerals and successfully operated during the previous three years of operations. The Company
proposes that mining will recommence at the Hemerdon site and has obtained the approval of the various
discharge permits, water impoundment licences, and water abstraction licences and is currently
undertaking water monitoring to support the applications to re-secure the remaining necessary permits
and licences. From the work to date, there are no known issues or changes in circumstance that would
represent an impediment to obtaining the various water use and water abstraction permits and licences,
therefore the Board is confident the final remaining applications will be forthcoming in due course.
Gingy and...
Mine Waste Facility Permit
The Company’s waste disposal strategy involves waste rock from the open pit being used to progressively
construct the Mine Waste Facility embankments, with tailings continuously deposited and contained in
a lined basin within the Mine Waste Facility. Operations at Hemerdon were previously authorised by a
bespoke Environmental Permit for a Category A Mine Waste Facility, issued by the Environmental Agency.
The Mine Waste Facility was constructed to a high standard and there have been no known historical
environmental issues associated with the Mine Waste Facility. The facility has been maintained during
the interim care and maintenance period and the Company has recently been audited for its ISO14001
environmental management certification. The Company has applied for the re-enactment of the previous
permit and is confident that the reinstatement of this permit will be forthcoming in a timely manner.
Mineral Processing Facility Permit
The activities within the mineral processing facility at Hemerdon fall under the Environmental Protection
Act (1990) and the Environmental Permitting Regulations (2016). Wolf Minerals previously held a mineral
processing facility permit regulating the crushing, grinding and processing of metal ore. During the
operation of the mine under Wolf Minerals, a few items of equipment were installed which had created
low frequency noise and infrasound, which disrupted local communities, leading to the Environmental
Agency to designate the project High Public Interest. Such designation will follow a similar process as
an ordinary determination, however, there may be an extended determination period of up to four months
with a public consultation period of 4 weeks during the High Public Interest determination to allow
interested parties to review and comment on the potential decision.
Since acquiring Hemerdon, the Company has undergone environmentally driven modifications and
engaged in regular and constructive dialogue with both the local community and the Environmental
Agency to ensure all previous concerns have been addressed and has recently reapplied for the mineral
processing facility permit to be reissued.
Gingy and....
Planning permission for the operation of the Hemerdon Mine is in place by virtue of the permission
DCC/3823/2015 granted on decision notice dated 16 February 2017 the variation of (i) condition 3 of
planning permission 9/42/49/0542/85/3 to allow the continued extraction of tungsten and tin, the
processing and disposal of mineral waste until 5 June 2036 and (ii) removal of condition 13 of planning
30
permission 9/42/49/0542/85/3 to remove the restriction of the operating hours of the primary pressure at
Drakelands (previously Hemerdon) mine.
In connection with the planning permission there is a planning agreement in place pursuant to Section
52 of the Town and Country Planning Act 1971 dated 5 June 1986 (the “Section 52 Planning
Agreement”). The Section 52 Planning Agreement requires certain properties within or nearby the
Hemerdon Mine to either (i) cease to be permanently occupied for residential purposes but only if those
properties or any of them have been purchased by the operator; or (ii) have ceased to be permanently
occupied for residential purposes. Drakelands Restoration either owns or leases the properties (or the
land on which such property (now demolished) was situated) subject to the Section 52 Planning
Agreement.
Further information in relation to environmental regulations and permits is set out in Part 6 (Competent
Person’s Report).
As a result of Wolf Minerals entering into the receivership process, a number of permits were forgiven or
lapsed, accordingly the Company has re-applied for a number of operating permits. Although the
permitting regime for a mine in the UK is complex, the Company is able to build on the historically
negotiated and approved applications and, through its planned upgrade works, has also been able to
demonstrably improve in areas where there were concerns with the previous operations. The Company
has seen significant local support for the reopening of the Hemerdon Mine and the UK Government has
also indicated its support as Hemerdon represents a strategic mineral resource project.