Szopen I have a different view and I don't think it would be anything that the shorters should rely on in terms of crashing the price... to me it is business as usual.
The design is well advanced. There will be some fine-tuning and this happens right throughout the construction phase of the project. However, it would be folly to place any orders until such time as the "go mining" decision is formally made.
In the interim Letters of Intention (LOI's) and Memorandums of Understanding (MOU's) would be placed with those long-lead item suppliers to secure the equipment and the terms and conditions. This would be an administrative function.
The ML has been granted, the next government requirement is the EPA plan (I would like to hear more about the status of this).
I suspect that the whole reason the DFS was not published sooner was because MEP has been holding ADN back. Perhaps not able to stump up their 25% of the development costs... hence the deal.
The DFS and/or BFS will only be released after the deal with MEP is finalised and that is when the final "Go Mining" can be officially made.
To me this decision will make itself based on everything we know. Once MEP are not part of the decision-making process it will be a much simpler matter. ADN will be 100% owners of the project, so will also have to carry 100% of the costs, the cost estimate is likely to increase by ~25%. The funding plan will need to be covered in the DFS, but I don't see this as an issue. The increase in costs will more than compensated by the increase in returns and profits.
IMO.
ADN Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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