Ann: Sandpiper Project - Pilot Plant Progress , page-5

re: Ann: UCL: Sandpiper Project - Pilot Plant... The only issue i see is the $70m capex required, hopefully this can be done through debt rather than any CR...

Obviously if the NMDC transaction goes well we will have a portion of that available as cash anyway.

Up until now i've really just looked at Sandpiper as a little icing on top of Wonarah - but the more i look at it i see it as much more valuable than that. Sure, the grades are lower - but it will be producing much earlier and cash flow positive straight away ($USD30-40 per ton).