rns20 Aug 2019 08:07
"The Company stated in April 2019 that it was reasonable to expect a decision by the Swedish Government on Kallak before the summer.
"This statement was based on the extensive consultation work undertaken by the Government before the Swedish election process got underway in Spring 2018, and allowed time for the new Government, formed in January this year, to 'get up to speed'.
"Despite the Government's acknowledgment that the Company has been waiting an excessive period of time for a decision, we are still waiting, and with the holidays in Sweden coming to an end the Company will be contacting the Government to understanding the causes of this further delay. The Board continues to keep in mind all options at its disposal for encouraging a decision.
"At Almedalen, I explained how ridiculous a situation is the Kallak application process and how badly it reflects on Sweden as a country 'open for business', readily accepted when I explain the history to Swedes I meet.
"However, this year, I also presented the Company's immediate plans in the event the Concession is awarded, the completion of a Scoping Study, the formation of a development taskforce with Jokkmokks Kommun to plan for the resurgence of Jokkmokk, and the provision by the Company of support for Sami entrepreneurs.
"It is invigorating to imagine the possibilities around developing Kallak, for building a sustainable mining operation, and in so doing transforming Jokkmokk, if you remove yourself from the politics, albeit temporarily, and believe the Concession is imminent and that we can soon get on with the 'job in hand'.
"As we continue to wait for a decision on Kallak, Fennoscandian's exploration team has been active in the field investigating other graphite prospects in the portfolio, and the funds invested in Vardar have been put to good use, with drilling and other exploration activities continuing through the summer.
"We have a busy period to the end of the year. If we get a positive decision on the Concession for Kallak, for which we have done everything required, that will kick-start the project and multiple workstreams for the Company. We are prepared and waiting to get going.
"I look forward to keeping shareholders updated with developments on Kallak, Fennoscandian and Vardar."
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