Galantas Gold Share Discussion Threads

[bamboo2] 10/10/2012 16:12

latest...

Mr Ross Hussey
Ulster Unionist Party
West Tyrone


Tabled Date: 17/09/2012
Answered On Date: 09/10/2012
Priority Written: Yes


Question:
To ask the Minister of the Environment what action he has taken to ensure that the failings at Cavanacaw mine near Omagh are not repeated.


Answer:


I have been fully briefed on the issues in relation to a number of planning applications relating to the Gold Mine at Cavanacaw near Omagh.


These issues relate to delay in taking enforcement action against a breach of condition on the original approval and to the adequacy of determinations made under the Environmental Impact Assessment Regulations for two subsequent planning applications relating to the reinstatement of the site and the provision of passing bays on local roads. These latter permissions have now been quashed by the courts.


I do not consider the history of events in relation to this case to be acceptable, however, the Department has acknowledged its mistakes and I am determined to ensure that lessons are learnt and there is no repeat of the failings noted above.


I have therefore instructed officials in Strategic Planning Division to undertake the following:


Urgently review the staff resources available to the Enforcement Team within Strategic Projects Division and to make greater use of Area Office Enforcement Staff to carry out initial site visits in relation to complaints received;

Move to a pro-active regime where in terms of specialist applications such as mineral extraction compliance with planning conditions is monitored to identify any breaches at an early stage, this will include engaging with applicants and the relevant industry bodies where appropriate;

Ensure all staff have access to the most up to date technology to monitor sites – for example Strategic Planning Division Compliance Teams are now able to access real time high quality aerial photographs to deliver accurate mapping and analysis of topography, boundaries, levels which is ideal for monitoring quarries and landfill sites.

Immediately review all current and recently approved minerals applications as well as a range of enforcement cases (minerals and unauthorised waste) to ensure compliance with the Environmental Impact Assessment Regulations;

Organise refresher training for staff on the requirements of the new Environmental Impact Assessment Regulations;

Provide updated guidance to staff on the processing of Enforcement Cases.


I have asked to be regularly updated on progress in respect of the above actions.

[bamboo2] 08/10/2012 20:25

Thanksgiving Day - October 8, 2012

Markets closed
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Thanks ttnyrp and george. Good info. Esp the quotes from stormont.

Am I right in guessing that the next move comes from Alex Attwood?

[georgethefourth] 05/10/2012 12:53

Nice bit of research there ttnyrp, very interesting. I didnt realise that the closure plan and removal of rock issue were linked and that by quashing the latter the former was also quashed. I do agree with you that, in all liklihood, permission should be granted. the timescale is the major unknown though - im always sceptical when it comes to the speed and efficiency of government departments. The recent trades are perhaps hinting that this may be sooner rather than later, although perhaps this is all just wishful thinking on my part

[ttnyrp] 05/10/2012 12:27

George - I personally think ultimately the permission will be granted and it is therefore more on expectation. Have a look at this recent exchange from the 19th September.

Question - Mr Ross Hussey (UUP - West Tyrone)

"To ask the Minister of the Environment whether he will give an assurance that the site at Cavanacaw near Omagh will be restored, specifically in relation to the mining pit."

Answer - Minister of the Environment

"The original grant of planning permission for the Gold Mine includes a condition requiring a closure plan to be submitted to deal with remediation and restoration. While the permission associated with the implementation of the closure plan was recently quashed the Department will be retaking this decision with a view to ensuring proper restoration of the site in the future.
I am therefore confident that when this planning application is processed properly the restoration of the site will be secured."

Now that doesn't specifically say permission will be granted, and I might be wrong, but I think you can infer a few things by reading between the lines.

[georgethefourth] 05/10/2012 11:43

Ttnyrp - agreed. I think thats the only thing that will get us moving. Grades can be excellent and we can increase the resource, but if we cant get permission its irrelevant. Thats why this accumulation (and on a pretty big scale it would seem) is so interesting. Either someones buying on the hope we get permission, or on the expectation. its a lot of money to spend on a hopeful punt, and also why now? permission took 3 years last time - would you really tie up a lot of capital on a punt for permission that could drag out for an age?

[ttnyrp] 05/10/2012 11:25

George - a few possible scenarios as you say. Re block sizes, yes it is unusual, more usual is 25-150k so whatever scenario is playing out they want stock.

The real issue as we know is the planning situation. Material movement on that and/or some sort of planning policy movement from up high with regard to the ever worsening unemployment situation is the game changer. I think then there will be a seismic price shift.

[tomboyb] 05/10/2012 11:19

Post 2362 - lol

[georgethefourth] 05/10/2012 11:09

If that were the case theyd surely have raised the price instead of selling stock they didnt have? Unless they already had a short position and wanted to keep a cap on the price. Still, i think the simplist explainations are often the more accurate.

Re the trades after the last drilling results, i think they kept the price down to fill our big buyers order. They knew a lot of people were momentum traders (like all those who turned up on this board) and so would likely sell out soon if gains were capped. Before the news the price was relatively stable and lots of sales were going through without dropping the price. Then the news came out and, with the increase in short term traders, they knew theyd lose interest and sell if the price was dropped below the previous low

[georgethefourth] 05/10/2012 10:57

Ttnyrp - wow that speaks volumes. I never really try dummy trades, but i imagine thats pretty rare. It certainly looks like someones accumulating

[ttnyrp] 05/10/2012 10:55

Alternatively they are very short after selling 2 million plus after the last drilling results came out.

[ttnyrp] 05/10/2012 10:49

George - when they drop the price to this level I've had online quotes for 7 figure blocks at above bid.

[georgethefourth] 05/10/2012 10:49

Bit early to be on the sauce no?

[georgethefourth] 05/10/2012 10:27

Ttnyrp - it does appear so. How much stock would the mms take off you? Was there much of a discount to bid or was it at full?

[ttnyrp] 05/10/2012 10:12

Interesting George. Noticeable here too that the MMs have quoted me prices online recently to sell very substantial blocks of stock to them. Somebody is looking to accumulate it would seem?

[georgethefourth] 05/10/2012 09:41

Ttnyp - the limits on tsx changed markedly yesterday as well. On the bid, between 2.5c and 4.5c you can sell 1,121,000 while on the offer at 5-8c you can only buy 161,000. I havent seen that much of a difference in a long time. And having either side over a million isvery rare.

Also, when the trdes yesterday at 5c went through the offer momentarily went up to 6.5c before someone made another 8k availableat 5c. It could be an iceberg and so irrelevant or it could signify that once 5c goes 6.5c is the next stop

[ttnyrp] 05/10/2012 09:22

Interesting divergence on pricing between here and the TSX

AIM

2.25p (6) - 2.75p (1)

TSX (close last night)

2.83p (93k) v 3.15p (5k)

Approx 250k been traded at 2.83p or above in the last couple of trading sessions on the TSX, the majority at 3.15p.

[bahamasoil] 03/10/2012 13:51

Who needs a power plant?

Not in my back yard!

[bamboo2] 02/10/2012 09:15

Both Stormont and Westminster are currently looking at reviewing the system for Judicial Review of planning applications.


"Planning delays are costing millions of pounds in private sector investment which could create thousands of construction jobs, First Minister Peter Robinson has warned.

And now he wants the Executive to investigate how judicial reviews on planning decisions - such as the long-awaited John Lewis store at Sprucefield - can be limited or avoided. "


Read more:
Members&anbt=All Ministers&abpt=All Parties&spt=2012-2013

[bahamasoil] 02/10/2012 08:24

And so it goes on, more losses.

[bl4ster] 01/10/2012 04:16

I think that the continuing pride in an unsinkable ship, that sunk on its first voyage, sums things up quite nicely

[bageo] 29/9/2012 12:47

Unesco have also complained about approvals for the South Crofty mine in Cornwall .... a mine in a mining heritage area - think that says it all.