2g/t tails grade is very high, ramping up production is all well and good, however SBL are yet to start feasibility studies on their in-ground resources.
The cap raising doesnt mention any of the $5m going towards feasibility studies, just working capital for the plant.
What happens in year 2 when all the tailings and other stockpiles are exhausted? Care and maintenence? When you have an established trained workforce?
Wouldnt it have made sense to do the feasibility study first, then commission the plant treating tails while waste stripping occurs?
This whole strategy doesnt add up.
SBL Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
