RE: fIRST POST IN WEEKS THATI think HAG might not be asked for its input, otherwise, why Happymon didn’t know this and was obviously surprised by the Aug.29 date. Too many coal play wannabes, the Ministry only contacts real players. The reason that government has to set more detailed regulations is that too many companies want to ride on the coal wave for the P&D purposes. Without comprehensive regulations, more and more retail investors would become bag holders.
From Happymon’s reaction, I think NAG will have to wait 4 months to get the permit, and then it is holiday season and winter. I think this will be second Riou lake project for the company.
From Ministry: The Ministry was asked to clarify what will be acceptable in term of exploration requirements and expenditure allocation. Consequently, the Ministry is seeking industry input on the following proposals. Given the urgency to issue coal permits, comments shall be received by the Director, Mines Branch, no later than August 29th, 17:00.
[Happymon wrote:
I had posted the government mining department was making changes to their coal regulations due to the huge size of the staking claims.
Nice to see they have set Aug 29 as last day for submissions from the many companies involved. Will probably take few weeks for the regulatory changes to be formalized. Not sure if that will delay permit process. I would think it will. But will be a more realistic regulation to lower the burden on the successful applicants to expore their permit holdings.]