It has become even clearer that the current management were expecting a sugar hit to the SP with the announcement of some prospective lithium tenements. They don’t have drill rigs in place producing core samples of pure spodumene let alone clearance from the government or the Traditional Owners to even have the rigs there in the first place. With what we know about current managements ability around permitting how long is it going to take realistically to get a JORC compliant resource defined? If it was under 2 years I would be flabbergasted. Where is the cash coming from to run a drill campaign over what is a very large area and how much will that cost? To me what this all seems to be saying is that FID for Mt Peake in 2023 can be forgotten about and more realistically 2024-5 as PB admitted near the beginning of the interview that the SP isn’t where it needs to be for the equity component of project finance. Now whose fault is that?
TNG Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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