The read through for me is unfavourable/zero interest for offtake / financing. Need to lower capex to have any chance of moving this project forward. Remember they hired a mob to assist with funding? With a high capex, this project stays on ice and they're back to being an exploration company.
If we don't see any outcome of funding by q3/q4, Imo It's time to review some of the management remuneration or even lean up on personnel. $1mil per qtr won't be justified.
Another 2 to 3 months after ausenco finalises their part of the Dfs? Solid piss-taking and milking right here.
(20min delay)