Allowing for a regulator review period of 200 days, Tigers Realm expects to receive the mining licence in the first quarter of 2013.

The licence is being sought through Tigers Realm’s Russian operating company Northern Pacific Coal Company.

Conversion of part of the exploration licence to a mining license will confirm NPCC’s tenure over the deposit for a period of up to 25 years.

This application for conversion of part of the exploration licence is based on 15,198 metres of drilling – to the end of April 2011.

Future applications based on the additional 14,403m drilling during the 2011-12 winter season and ongoing drilling will be made to increase the size of the mining licence area as additional reserves are delineated under the Russian resource classification system.

Upon conversion of the Amaam exploration licence to a mining licence, Tigers Realm will move from 40% to 60% ownership of the deposit.

It will move to 80% ownership upon completion of a bankable feasibility study.