I guess the key for BMN's approach is to cut corner, assume it has enough mining reserve for a profitable mining project, without proven it first. The question is how much they can convert the JORC inferred resources to measured reserve for anomaly "A" in the near future?
The upside is BMN can be a couple of years ahead of peers in racing for being a producer.
But the down side is obviously. A good example is BDG - BENDIGO MINING LIMITED.
Of course, it biggest risk is how they can get money from banks without following the length formal procedure? Or the project can be fully shareholder funded?
One approach is BMN can start small, and grow big. Start with small scale production, and prove the reserve year by year.
3000t+/yr production from beginning is aiming too high.
trading halt maybe a takeover offer, page-36
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