From pg2:
"Production from ore stockpiles from mid-late 2014".
I'd suggest this factors continued AT development to a point this is viable + the regulatory/compliance issues. I'm going to take this timeline with a large dose of salt until we can see a schedule that addresses the hearings all parties are entitled to. I'd suggest this is grossly over optimistic, but then that's just me. Marketing tends to be optimistic - it's easier to sell to shareholders!
"Conventional mining opportunities from 2016". Implying Hansen I guess, but on the timeline (pg 27) it's still in "development"; (not to forget the $80M dollars needed to build it, pg6). I guess "conventional" means UBHM in this instance since it wont be viable via any other extraction method.....bit of a stretch that in my opinion...permitting again comes to mind, new technology relative to U extraction etc. Once the permit applications are in and the hearings are scheduled and contentions noted and assessed we'll see more on that.
Another thought I had was there's ever less doubt in my mind now that the $11.5M convertible note will come into play as time drags on and more funding is needed. The positive is the funding is there, however it introduces another 676 M shares in the next 12-18 months potentially.
That's a 34% dilution to your shareholding now; ie the real value of your shares today is probably around $0.01. Food for thought.
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