Ann: Sunrise Project Update, page-104

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asynck

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19/06/18

23:23

Post #: 33812283
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Originally posted by Alk47 ↑

All,
Couldn't help myself so gave CLQ IR a called just now to see what I could glean. Not sure I have learnt anything new however left with a feeling of confidence that all is in hand. These are my my out-takes from the conversation and I am a "unsophisticated investor" with very limited understandings of the mining and production processes.....

Seems the BFS remains on track for the end of this month (which is next week). They are clearly not going to give anything away on its content however we discussed options for their financing and that while it will be dependent on the DFS content/figures besides the debt raising we know about with shareholders and 4 financiers the expression "bridging the gap" was used for whether they will using an off-take partner, JV, equity share partner/s are all still on the table and are being considered.

I asked about any consideration to producing battery precursors/cathode manufacturing onsite and certainly there has been some "aspirational" thinking but that's all. There are clear bennefts in regards to the manufacturing process for example the production of sulphates/crystal vs the nickel/cobalt solution as used in batteries however it's just too early to seriously be considering right now and they would partner due to costs and expertise required.

I also asked about build risks associated with the site - again was referred to the upfront purchase of long leadtime items , recruitment of human resources has started (as mitigation) and the advantage of having access to power , water, road and rail access. Also that they have looked at various models of how to achieve delivery managing risk and costs.

Typing this out makes me feel like I haven't actually added anything we didn't already know however speaking with someone in the company has left me with a feeling that things are well and truly in hand and that they are very very busy on the Sunrise project and it is extremely complicated.

Looking forward (with all holders) for the DFS.

DYOR.....

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Thanks for the effort. I wished that CLQ surprised us with an early milestone delivery for once.

I must say that your post leaves me somewhat ambivalent as to what to expect ...

CLQ Price at posting: $1.10 Sentiment: Buy Disclosure: Held
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Ann: Sunrise Project Update, page-104

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Ann: Sunrise Project Update, page-104

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