Member Info for gorsuch

The original town of Leigh Creek was sold off or demolished in 1982, Situated to the west of the northern Flinders ranges, the current town is 13 km further south than the original town—it was moved in 1982 to allow for the expansion of the mine. As a result, most facilities and buildings in the town are only a little over thirty years old, and with relatively modern designs.

I received another letter today from the Minister for Energy and Mining, the Hon Dan van Holst Pellekaan MP.

Part of which says.
Strategic Minerals Plc is still engaging with the Department for Energy and Mining regarding the approval process for its Program for Environment Protection and Rehabilitation that is required to take the project into production.

Also.
Should Strategic Minerals Plc achieve its approvals and its funding required to proceed to production, I am sure it will have a positive impact on the local community.

Not as much impact as his plans to demolish most of Leigh Creek.

Local MP Dan van Holst Pellekaan said the state government planned to demolish empty or asbestos-filled buildings, but leave some standing so the town could still function as a service and tourism hub.
Approximately 200 houses will be demolished, and they are essentially the ones that are not in a good enough condition to retain anyway," he said.
"The absolute minimum that will be retained is 59 houses, 36 flats and 29 vacant blocks.

The markets are usually right more times than I ever am, so I take it they know what they are doing.

I’ve never seen a PEPR that states “Not granted” because that would make the land worthless. Basically you tell them what you want to do, they then tell you what you need to do to achieve that, if you can comply then you get your PEPR, if not it stays active on the system, sometimes for many years.

Negativity is only someone telling you something you don’t want to hear.

Do you honestly believe that DVH.

They gave themselves 3 months to submit required information and still failed.
Then they tell us (in not so many words) that the PEPR will be granted within 3 months, how can they possibly give us a timeline on a process that they have no control over. "if" they have submitted all the required information, on average it normally takes the DOM about 2 weeks to grant a PEPR.

Don't forget DVH, that was released on the 31st March, yet they did not complete the information submission until the 8th of April, I was sent an email on the 6th April stating that the Govt had received "some" paperwork, but they were waiting for the rest of it, so I wouldn't put much faith in the Nomad.

According to the SARIG (South Australian Resources Information Gateway) website, the request for “further info required” made by South Australian Department of Energy and Mining (DEM) on 10/12/2020, has still not been submitted by SML, that’s almost a month since we submitted a reply to the 22/12/2020 info request and JP told us.

"It is the Board's view that this is likely to be the final submission required for approval and that this is likely to occur in the second quarter of 2021”

Obviously that wasn’t the final submission; there has always been another outstanding info request, so it looks like the PEPR is still sat collecting dust until they get their finger out.

I bet the BOD are not looking forward to this AGM, facing a room full of people with 2 years worth of pent up frustration, I would love to attend one of these, but alas it's not possible for me.

Prop - Just to answer your question and give my overall view.

The method for seeking to "enforce" an arbitration award under the Federal Act, is to file a motion for confirmation in the appropriate court. That court must grant the motion and enter judgment on the confirmation order.
The “STAY” stops SMG’s court case for enforcement confirmation from proceeding, that is why SMG put in an appeal to have it overturned (which was denied), because without a confirmation order they have no real legal right to Brenda's assets.

The receiver did say:
He has taken note of SMG’s position and will take it under consideration in recommending a claims procedure to the Court at the appropriate time, when the Receivership has marshalled sufficient assets for a meaningful distribution.

Taken from the initial court papers last year:
Since the Fund's inception, Smith raised approximately $105 million from “at least” 40 investors, and investors are still owed “more than” $63 million in principal.
The amount so far retrieved is less than $10 mil.

As Lupi has already stated, the magnetite Brenda bought and collected has basically vanished, but the receiver's view of our claim is interesting, because we still have magnetite that belongs to Brenda as she paid for it, which in law becomes part of her assets.

Quote by receiver:
Upon information and belief, CVI did not actually receive any magnetite for which it failed to pay; rather, it failed to purchase the full amount of magnetite required by the PSA. It is further believed that some of the magnetite paid for by CVI was retained by SMG.

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.

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.

It's definitely still on a 5 day forward roll, after 4pm your time it will change to the 18th.

P2CR - I can't take any credit for the Cobre sales figures debacle, that was Troutisout who ploughed through all the figures, thereby getting them altered.

On the SARIG site, apart from the "Further info required" notices for the 10th & 22nd December, it has always stated "The application has not required re-submission" but now it states "last re-submit date 8/4/2021" it's quite possible the info required in December made the PEPR unworkable, hence they may have re-submitted the whole thing again, that would account for it taking 3 months to do, it's anybody's guess what's happening.

Like I have said before, they didn't lie on the RNS, it was the way it was worded, people just read into it what they wanted to see and hear, for instance it states "has lodged a response" which appears to be a few documents, had it said " lodged THE response" that would mean the whole thing.

Have I checked with JP definitely not, that's a bit like Trump asking Putin did you rig my election, not likely to get an honest answer.

I don't know about anyone else, but to me the following statements give a false impression, to put it in a nutshell, they seem to imply that they HAVE submitted ALL the information requested, also they DON'T need to submit anymore information.

"The submission of the further information sought reflects the on-going dialogue that LCCM has maintained with the DEM and reflects the prudent policies the South Australian government follows in ensuring mining projects are environmentally robust.
"It is the Board's view that this is likely to be the final submission required for approval and that this is likely to occur in the second quarter of 2021.

I don't put out information that hasn't been checked, this is a snippet of an information request I made on the 1st April, I received this answer dated the 7th April, although it may take them a day or so to update the SARIG site, you cannot dispute the information on it.

"I understand that a number of documents have been lodged with more to follow.
The PEPR previously lodged remains under assessment."

So much for them telling us they had submitted all the requested PEPR information on time.

According to the SARIG governmental site, the information requested by the DEM on the 22/12/2020 for the PEPR, was only submitted yesterday 8/4/2021 and received by the DEM today 9/4/2021.

The information requested on the 10/12/2020 for the PEPR, which we were never told about, has not yet been submitted to the DEM, so until they get their finger out and give in all the requested paperwork, our PEPR application will just sit on a shelf collecting dust, I knew the RNS was a bag of s****

They are very clever when writing RNS's they never actually commit to anything, that way they can't be held to account, always use a pinch of cynicism when reading anything that comes out of SML.

Here we have two prime examples by their use of the words "Likely" & "Expects"
"this is likely to be the final submission"
"this is likely to occur in the second quarter"
"that he expects PEPR approval, in Q2"
They used all the same words when we got the spurious "letter of intent"

Don't forget there were ( 2 ) requests for information made to SML, one on the 22/12/2020 that we were told about in an RNS, but there was another request made before that on the 10/12/2020 that we were not told about, like I said It's not over until the fat lady has all the paperwork!!

There were a few things about the last RNS that didn’t seem right to me, firstly the time it was released 12.05pm, only 2 other RNS’s have been released around lunchtime in the past 12 months, not counting any of the Price Monitoring Extension or notifiable shareholding ones, they both appeared after they had time to read the forum that morning, i.e. Brendagate, and “Trout’s” Cobre manipulation figures, all damage limitation exercises.

They stated the requested information would be submitted before 1st period end, to tell us it was done on the very last day is just too convenient, also we were told that it would take around another 12 weeks to have it approved, if you give the Department for Energy and Mining “ALL” and I mean “ALL” the information they have asked for, it could be approved within 5 days, to say 12 weeks means they know something they haven’t told us.

After reading it again and doing some more research, I believe the RNS was very cleverly worded to give a slightly false impression.
“Leigh Creek Copper Mine ("LCCM"), has lodged (( a )) response to the request for further information”
It's not over until the fat lady has all the paperwork!!

Not seen any communication from the BOD today, although I’m not on twitter, a simple “yes we have” or “no we haven’t” submitted it would have sufficed.

According to the SARIG site, as of close of business Wednesday 31st March, they have not received any further information from SML.

SML have mentioned several times about responding before this period end, but they haven't actually ever said they “would or could” definitely submit it before a specific date and time.
(The company EXPECTS to submit this to the South Australian government during the quarter ended 31 March)

I have been in contact with the Department for Energy and Mining for a while, I queried why the SARIG page didn't show any mention about wanting more info from SML, they have now rectified that part and also put it on automatic update, although we still can't be 100% certain that what the site is showing is accurate, the reason being what they outlined in this email snippet.

(( SARIG gets its information from other DEM systems which if not updated will not be reflected in SARIG.
With COVID and a large proportion of staff working from home there have been issues in updating some systems.
I’m advised that this information will be updated when staff are back in the office. ))