Mawson operates an advanced stage exploration project and does not have a mining operation. It has not yet conducted any external economic evaluations and therefore the economics and technical viability of the Rajapalot Project have not been demonstrated at this time, and our data is too preliminary in nature to do so at this stage.
The EIA preparation stage allows Mawson to discuss all various options of the impacts of a potential mine in the local region at a very high level with stakeholders. This includes potential open pit ("OP"), underground ("UG") and “do nothing” scenarios without any economic criteria being applied nor studied. The second reporting stage of the EIA will require economic analysis and will incorporate feedback from the preparation stage into consideration during initial economic analysis. These studies are likely to occur over the next 18 months to 3 years. The path to mining is a long term proposition and at this stage we cannot say whether a mine is certain, nor provide specific timeframes.
Mawson considers stakeholder engagement and collaboration to be a critical part of the potential development of the Rajapalot project, and social aspects will be a key part of the EIA preparation process. The EIA is a project planning tool, and its results must be taken into account when granting permits for projects.
In combination with the EIA, the two municipal areas where the Rajapalot gold-cobalt project is located, the City of Rovaniemi and Municipality of Ylitornio, at the request of Mawson, formally decided to start the sub-area Local Master land use planning processes. Both municipalities made decisions to propose to the Regional Council of Lapland (“Lapin Liitto”) to start the phased provincial land use plan for the Rajapalot gold-cobalt project.
The regional land-use plans set out the principles of land use and the community structure. The phased provincial land use plan is a long-term plan and a guideline for the municipalities when drawing up and amending local master plans and local detailed plans.
Mawson will be responsible for the costs of the EIA and land use planning, as well as the studies to be prepared for them and any measures that require compensation.