How can u test a plant if it isnt ready to fire up (assumption) Hots? The metallurgy would have / should have been sorted out in the lab first before building it hey (?)
I think market price now has the negatives factored in and we can only HOPE the broader market mood holds together whilst all this is sorted out. In overall context of things, oxides was only meant as a stepping stone to the real elephants later but any teething problems now take away the short term comfort aspects of the Ark.
My emphasis has always been on KISS theory. Full speed on the Uranium solo and backed by TSX corporates and let the Chinese sort out what / how the sulphides WITHOUT building a platinum coated monument here.
With so much smelting capacity offshore, why waste time with a billion buck elephant here to produce only a fraction of what could be shipped out as concentrates only. I mean why only 4 mill tpa ? Why not 10 mill tpa concentrates only for same kinda capex ? Current fiasco (still to be defined for us) only emphasises this point IMO.
Anyway Omegas Browns and its vassals is a BIG project and will have its teething problems like all other BIG projects. We are now at sub 500 mill market cap which must be looking very attractive to the sharks. And whilst there continue to be uncertainties with whats happening and what others' motives outside might be based their market induced circumstances, it aint doing much for my blood pressure atm. We need to know the realities of our Ark's status to stop the bleeding. The third marker buoy is a must-hold otherwise the roosters will continue crowing IMO.
And meanwhile we have to survive the next two months (IMO) storms as we lay stranded inside the Bermuda Triangle. (Opportnistic) industry consolidation phase now in the XRA with CSM latest under the hammer.
IMBOOC
CMR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
