The project is massive and as we can see from the update, there are numerous aspects to this job that require detailed input. That is the process that could only be commenced with the new additions to management. We didn’t have the cash until a few months back to get everything running.
As mentioned, the VO2 price has obviously slowed every potential mine from advancing their processes and offtakes.
They are obviously still bullish on their production process and I much prefer them to tick every single box correctly, than screw anything up and cause any serious delays, particularly with regulatory approvals.
Nobody prefers news of a delayed FID, but did we really expect FID by years end? Stuff just takes time.
Hope to see you all there at a positive and fruitful end, at least now we understand the path forward and can monitor it properly as we go.
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