Uttsy I can save you the trouble of ringing NB. The cost of the 3mm liner for the 800m x 800m tailings dam is $80k. One thing that may surprise you all is the degree of independence that the mining analysts have when they do their commissioned reports and I don't believe they are vetted by PLS before they are released which may help explain the disparities in the lining cost estimates. By all means phone NB and also ask him how Pilbara Prices are. He told me several times in past six months that RC drilling costs are at a 20 year low. Businesses in all the mining areas of WA are in a dreadful position with the pull back in capital projects and significant lay offs across the industry. Getting work done by outside contractors is at rock bottom prices and there is no sign of that changing. This is an ideal time for us to be going into business along with lower diesel costs to run the plant and mining camp.
A further thing worth noting that NB told a few of us 5 months ago is that the modular plant will fit onto
9 B doubles and be in the Pilbara within 3 days of getting the clearance to begin construction and trucks organised.
I am about to head off over seas for four weeks so I wish you all well. My prediction is that by 25 May all permits will be in place and the plant will be loaded for transshipment. First production I would guess four weeks later but you could check that with NB as thar was not discussed with him this week.
One moire thing. With regard to a capital raising I think it is almost inevitable given we are just over $1m in the bank but with NB targeting to triple the current resource size within 4 months I think we can happily squeeze in a few more lucky shareholders without massive dilution taking place. After that when TT is operating we should be self funding all projects
ChrsW2
PLS Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
(20min delay)