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Tasmania’s hardstand on unregistered accommodation providers

Accommodation industry bodies hope the state government take a leaf out of Tasmania's book by introducing tougher controls to penalise unregistered accommodation providers and online booking platforms. Earlier this year, Tasmania introduced its Short Stay Accommodation Act 2019 which included measures for online booking platforms to share their data with authorities. The act introduced measures for short stay accommodation providers to display a permit number on their listing and established a data-sharing model with online booking platforms. The model requires online booking platforms to provide government departments with quarterly data to ensure they are complying with requirements, also making it easier to enforce penalties for non-compliance. The data will also provide the government with information to analyse the impacts of short stay accommodation on housing. Registered Accommodation Providers Margaret River Region member Debbie Noonan said the Tasmanian Government's ..

Accommodation industry bodies hope the state government take a leaf out of Tasmania's book by introducing tougher controls to penalise unregistered accommodation providers and online booking platforms. Earlier this year, Tasmania introduced its Short Stay Accommodation Act 2019 which included measures for online booking platforms to share their data with authorities. The act introduced measures for short stay accommodation providers to display a permit number on their listing and established a data-sharing model with online booking platforms. The model requires online booking platforms to provide government departments with quarterly data to ensure they are complying with requirements, also making it easier to enforce penalties for non-compliance. The data will also provide the government with information to analyse the impacts of short stay accommodation on housing. Registered Accommodation Providers Margaret River Region member Debbie Noonan said the Tasmanian Government's legislation was a significant step in the right direction to save the tourism industry in Australia. "We have constantly said, all short term holiday lets should be registered and comply with local planning regulations," she said. "We encourage our state government to act quickly when presented with the recommendations from the enquiry into short term holiday lets, which has recently been conducted here. "We have also called for increased penalties for those properties and booking platforms that fail to comply. "Tasmania has been held up as the "poster child" for Airbnb in this country, but they have realised the oversupply of short term holiday lets causes damage to the tourism industry and brings little benefit. "Long term renters have been evicted in favour of holiday lets, rents have risen for remaining properties, and have become unaffordable for many people resulting in an increase in homelessness. "There has also been negative effects on the wider community with tourism workers losing jobs and many Tasmanians annoyed at having pop-up hotels in their neighbourhoods." Ms Noonan said the flow of online booking platforms had also hurt the economy because accommodation providers lost around 20 cents in the dollar to overseas fees and charges. "As most of these properties are unhosted holiday homes, most of the remaining 80 cents in the dollar is syphoned off to wealthy property investors in other cities or countries," she said. "It has been estimated that half a million dollars a day is being lost from the economy in the Margaret River region alone, so urgent action is needed here. "As tourism and hospitality is the second largest employer in our region, a delay in making the changes needed is likely to cause a recession in the South-West." Australia's peak accommodation industry body, Tourism Accommodation Australia endorsed Tasmania's legislative reforms to tackle unregulated short-stay accommodation. TAA National chief executive officer Michael Johnson said the reforms showed the Tasmanian Government's understanding of the need to address unregulated short-stay accommodation. "The new Tasmanian legislation is arguably the strongest reform we have seen in Australia to date," he said. "It will implement a mandatory registration system which requires planning approval and for Airbnb to only market and sell permitted, registered and approved short-stay accommodation. "In recent years, jurisdictions around the world have moved to strengthen regulations for short-stay accommodation providers and platforms such as Airbnb – finally we are seeing effective measures being adopted here in Australia. "Tasmania has first-hand experience of how unregulated short-stay accommodation negatively impacts housing affordability, community amenity and undermines the licensed accommodation sector, so their reforms have been crafted with this experience in mind." An inquiry into short stay accommodation in WA is currently underway with the Economics and Industry Standing Committee yet to hand down its recommendations to the state government. The inquiry received almost 400 submissions with a large number coming from the South-West.

Accommodation industry bodies hope the state government take a leaf out of Tasmania's book by introducing tougher controls to penalise unregistered accommodation providers and online booking platforms.

Earlier this year, Tasmania introduced its Short Stay Accommodation Act 2019 which included measures for online booking platforms to share their data with authorities.

The act introduced measures for short stay accommodation providers to display a permit number on their listing and established a data-sharing model with online booking platforms.

The model requires online booking platforms to provide government departments with quarterly data to ensure they are complying with requirements, also making it easier to enforce penalties for non-compliance.

The data will also provide the government with information to analyse the impacts of short stay accommodation on housing.

Registered Accommodation Providers Margaret River Region member Debbie Noonan said the Tasmanian Government's legislation was a significant step in the right direction to save the tourism industry in Australia.

"We have constantly said, all short term holiday lets should be registered and comply with local planning regulations," she said.

"We encourage our state government to act quickly when presented with the recommendations from the enquiry into short term holiday lets, which has recently been conducted here.

"We have also called for increased penalties for those properties and booking platforms that fail to comply.

"Tasmania has been held up as the "poster child" for Airbnb in this country, but they have realised the oversupply of short term holiday lets causes damage to the tourism industry and brings little benefit.

"Long term renters have been evicted in favour of holiday lets, rents have risen for remaining properties, aRead More – Source

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Prospect Resources updated DFS, updated but is it improved?

Prospect Resources Ltd (ASX: PSC) has completed an updated definitive feasibility study (DFS) and signed an MoU with Uranium One for offtake and potential equity investment.

The memorandum of understanding (MOU) with Uranium One Group JSC, gives Uranium One a 90-day exclusivity period to complete its due diligence. If Uranium One opts to proceed it can negotiate an equity investment into Prospect, or its subsidiaries and off-take for at least 51% of potential future production.

In this article, we compare the updated DFS for Prospects 87% owned Arcadia Igneous Lithium Project, in Zimbabwe, to the previous DFS and the figures produced by Prospects peer group.

While the updated DFS is based on a 2.4mt per annum plant, in line with the previous DFS, announced in November 2018, the average annual product production rate is reduced by 22% to 173,000t for spodumene concentrate from 212,000t in the November 2018 DFS. Petalite production is reduced by 43.5% to 122,000t per annum from 216,00..

Prospect Resources Ltd (ASX: PSC) has completed an updated definitive feasibility study (DFS) and signed an MoU with Uranium One for offtake and potential equity investment.

The memorandum of understanding (MOU) with Uranium One Group JSC, gives Uranium One a 90-day exclusivity period to complete its due diligence. If Uranium One opts to proceed it can negotiate an equity investment into Prospect, or its subsidiaries and off-take for at least 51% of potential future production.

In this article, we compare the updated DFS for Prospects 87% owned Arcadia Igneous Lithium Project, in Zimbabwe, to the previous DFS and the figures produced by Prospects peer group.

While the updated DFS is based on a 2.4mt per annum plant, in line with the previous DFS, announced in November 2018, the average annual product production rate is reduced by 22% to 173,000t for spodumene concentrate from 212,000t in the November 2018 DFS. Petalite production is reduced by 43.5% to 122,000t per annum from 216,000t per annum previously. This moves the project from the large-scale concentrate production range to the mid-scale concentrate production range compared to its peer group.

The capex in the updated DFS has reduced by 1.8% to US$162m from US$165m in the November 2018 DFS. As a result, the life of mine capex intensity increased by 9% to US$35/t from US$32/t, which remains in the mid-range of its concentrate producing peer group.

Opex has increased by 20.7% to US$344/t in the updated DFS from US$285/t in the November 2018 DFS, which moves the project from the low end of the cost curve to the upper end of the cost curve compared to its concentrate producing peer group.

While mine life in the updated DFS increases by 29% to 15.5 years from 12 years the November 2018 DFS.

The post-tax NPV10 improves by 40.8% to US$645m from US$458m in the November 2018 DFS. While the post-tax IRR increases by 84.2% to 70% from 38%.

In summary capex intensity and opex have both gone up, while production levels have gone down and mine life gone up. This leaves us begging the question: How can the NPV and IRR have improved?

Well the answer is simple; while the spodumene price used has increased marginally by 1.7% to US$701/t from US$689/t, the average life of mine petalite concentrate price increased substantially by 77.9% to US$813/t from US$457/t.

But is there any justification for such a dramatic improvement in the petalite priceRead More – Source

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Panoramic Resources appoints Mike Ball as chief financial officer

Panoramic Resources Ltd (ASX:PAN) has appointment Michael (Mike) Ball as the companys new chief financial officer (CFO).

Mike is a chartered accountant with over 20 years of experience in corporate finance, principally within the resources industry.

His most recent role was as CFO of gold producer, Gascoyne Resources, between June 2018 and May 2019.

Mike will spend the next six weeks in hand-over consultation with the companys retiring CFO and company secretary, Trevor Eton, whose last day of employment is Tuesday January 28, 2020.

Ramp-up of mining operations at the new Savannah North orebody
Panoramic managing director and CEO, Victor Rajasooriar, will be working closely with Mike and the Savannah general manager, David Hume, on ensuring a successful ramp-up of mining operations at the new Savannah North nickel-copper-cobalt orebody in WA.

Given thRead More – Source

Panoramic Resources Ltd (ASX:PAN) has appointment Michael (Mike) Ball as the companys new chief financial officer (CFO).

Mike is a chartered accountant with over 20 years of experience in corporate finance, principally within the resources industry.

His most recent role was as CFO of gold producer, Gascoyne Resources, between June 2018 and May 2019.

Mike will spend the next six weeks in hand-over consultation with the companys retiring CFO and company secretary, Trevor Eton, whose last day of employment is Tuesday January 28, 2020.

Ramp-up of mining operations at the new Savannah North orebody

Panoramic managing director and CEO, Victor Rajasooriar, will be working closely with Mike and the Savannah general manager, David Hume, on ensuring a successful ramp-up of mining operations at the new Savannah North nickel-copper-cobalt orebody in WA.

Given thRead More – Source

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Core Lithium shares rise after hitting world-class 119-metre spodumene pegmatite intersection

Core Lithium Ltd (ASX:CXO) jumped almost 20% after returning a world-class 119-metre continuous spodumene pegmatite intersection at BP33 Prospect within the Finniss Lithium Project near Darwin in the Northern Territory.

This intersection includes 105 metres of strongly mineralised spodumene pegmatite.

Visual inspection of this interval of the drill core and under UV light suggests that spodumene grades are in line with or better than the average grade 1.5% Li2O of the BP33 ore body.

Resource expansion expected
All holes completed during recent reverse circulation (RC) and diamond drilling intersected spodumene mineralised pegmatite outside the defined BP33 mineral resource and are expected to expand the resource.

Cores managing director Stephen Biggins said, “Cores latest world-class spodumene pegmatite intersection at BP33 highlights the significant upside potential for the Finniss Lithium Project.

“Core is focused over coming months on increasing value for shareholders by growin..

Core Lithium Ltd (ASX:CXO) jumped almost 20% after returning a world-class 119-metre continuous spodumene pegmatite intersection at BP33 Prospect within the Finniss Lithium Project near Darwin in the Northern Territory.

This intersection includes 105 metres of strongly mineralised spodumene pegmatite.

Visual inspection of this interval of the drill core and under UV light suggests that spodumene grades are in line with or better than the average grade 1.5% Li2O of the BP33 ore body.

Resource expansion expected

All holes completed during recent reverse circulation (RC) and diamond drilling intersected spodumene mineralised pegmatite outside the defined BP33 mineral resource and are expected to expand the resource.

Cores managing director Stephen Biggins said, “Cores latest world-class spodumene pegmatite intersection at BP33 highlights the significant upside potential for the Finniss Lithium Project.

“Core is focused over coming months on increasing value for shareholders by growing mineral resources and increasing the mine-life of the project.”

Shares up 20%

Investors responded positively with shares up almost 20% to an intra-day high of 3.7 cents.

The results indicate that the primary pegmatite body at BP33 extends with an approximate 40-metre true width for at least a further 100 metres vertically from previous drilling on that section and remains open at 400 metres vertical depth.

Other intersections

Two other recent RC drill holes at BP33 also intersected pegmatite outside the current resource.

Long section for BP33 showing the current mineral resource coloured by grade and segregated into resource category, showing previous recent assays and new drilling geology results.

Assay results from the recently completed RC and diamond core drilling programs at BP33 are expected in January.

Core is planning an upgraded mineral resource and ore reserve estimate during the March 2020 quarter which will incorporate the latest results and upcoming assays.

An expanded, high-grade lithium resource at BP33 is expected to contribute to increased mine life at the Finniss project.

Mining studies and an updated feasibility study, to be completed in the first half of 2020, are expected to show high-grade continuous mineralisation at BP33 and Carlton is amenable to efficient underground mining methods.

High recovery

The very coarse spodumene crystals of the BP33 pegmatite are typical of the spodumene pegmatites within the Finniss Lithium Project.

This enables the high recovery of lithium by simple, gravity dense media separation (DMS).

Effective DMS separation translates into significantly lower capex, lower processing costs and low start-up risk.

Read More – Source

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