RE:RE:RE:RE:RE:RE:RE:wkp press releaseStrange it is not so very---materiality it has because a project that is rejected by government has a 100% failure rate whereas a project fast tracked by government has a very good chance of success in terms of profitability for years and years; there does appear to be a rather bonkers statement embedded in the News Release:
OceanaGold intends to lodge its Fast-track application in early 2025 and expects to be fully permitted (subject to any appeals) under the Fast-track approvals process by the end of 2025. This timetable would allow the Company to commence decline and underground development work for the proposed WUG mine in 2026. In 2025, $40-45 million of early works not requiring Fast-track approvals are planned.
I suppose Oceana Gold might have $45,000,000 to risk blowing in 2025 while they wait to see if the Fast Track Approval materializes, maybe they know people in government, probably---still it is a risk given that environmentalists abound in NZ. IMO