Plagued - Read the contents of both parts carefully of the recent Corporate Update and you will find the BAR has no bearing on the timing of the release of the PEA. PEA to be released by end of January 2013 and the decision on the BAR will be by the endof Q1 2013, or March 2013.
"Preliminary Economic Assessment ("PEA"): GWMG plans to issue a media release that contains the results of its PEA in January 2013. While the Company had targeted the issuance of the release for the 4th Quarter of 2012 it was determined that the relative complexity of the PEA, incorporating mining, chloride production, separation, metal making, alloy manufacturing and product sales, meant that additional time would be required in order to integrate all components of the analysis. In addition, during the course of work on the PEA, GWMG made the decision to undertake a revised resource estimate. This extended, yet again, the scope of work to be incorporated into the PEA.
"Vredendal Separation Plant Basic Assessment Report: GWMG commissioned Savannah Environmental (Pty) Ltd., of Gauteng, South Africa, to prepare a Basic Assessment Report ("BAR"), which addresses all regulatory and environmental requirements for projects located on the industrial zoned land on which GWMG plans to construct its separation plant (see GWMG news release August 30, 2012). During the development of the BAR, the Company made the decision to increase the amount of land designated for the separation plant to 19.9 hectares on the advice of its technical advisor on the project, Ganzhou Qiandong Rare Earth Group Ltd. ("GQD"). As a result of the site expansion, a road transport study was necessitated. GWMG anticipates the expanded report will be submitted to the South African Department of Environmental Affairs and Development Planning by mid-February 2013. In addition, a Land Use Planning Ordinance ("LUPO") application is underway through the Company's consultants, Planning Partners. The preliminary LUPO application for rezoning has been submitted, accompanied by information and technical studies from the draft BAR, to the Matzikama Municipality. It is anticipated the LUPO application process will be completed by the end of the 1st Quarter of 2013."