Ann: Binding Sales and Distribution Agreement with IberoClays SLU, page-80

Even if the funding was secured ext week the chances of producing finished products in CY2024 are very slim to none.
We are talking regional SA.

I know that there was talk of starting the operation on diesel generators but the whole electrical system for the processing plant still needs to be designed and built. Not very likely to be finished within 12 months.

Good moment to think a bit about the actual operation.
Looking at 100ktpa processing capacity.
There is no significant cost of starting and stopping such plant so most probably it will operate only weekdays, not sure if 2 or 3 shifts, let’s assume 2.

Capacity calculations based on 46 weeks of production or 230 days.

Ore processing 200ktpa/230 days gives us about 870 ton of ore per day.
Using a 15 ton truck that is 58 trips from mine to processing stockpile, 4 trips per hour, doable on 2 trucks.

Output of 435 ton of finished product a day, packed into bulka bags with 1.65 ton per bag gives 264 bags a day, 14 of these into a 20ft container makes 19 containers per day.

Give some time for start and shutdown and we are talking 17-18 bags per hour, more than 1 container per hour.

Every day 19 empty containers need to arrive and 19 full ones go.

Not such a small operation.