Have asked John Young some questions re quarterly and further outlook.
He wrote me that they have planned a (drilling)program for IP targets around Molyhil and hopefully they will do this before June this year. They would do it in conjunction with a water bore programm (part of the mine construction phase) but like to get some further funds through the offtake partners for this.
The new open pit calculation is a much more conservative model than plans published last year.
Main reason for Capex increase is additional working capital. They already have bought 2 used machines for tungsten (crusher and gravity recovery circuit) but obviously are looking for additional cheap used plant and equipment (which then will reduce Capex).
The financing model for Molyhil is likely to be a combination of equity and debt.
They still have plans for a new drilling phase at Hale and Plenty BUT Harts Range is now the top priority U-project!
Hatches Creek (tungsten, gold, copper) has also high priority and they expect exploration permits shortly.
So we should stay tuned IMO!
THR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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