I am mystified as to why they continue to raise capital for the company with no set end date or scope on the FS. There is a cheapest capital cost solution and a cheapest to run solution. One or the other might depend on other projects or the government but there would due dates on such outcomes(eg the Ramu Hydro study due in a year or so).
If optimal costings for Marengo are dependent on other studies they need to issue the FS with the best solution they have, and if too expensive park the project until the further data or a third party solution becomes available. Studying and drilling indefinately doesnt help the project get off the ground.
qben8_, was the 200MW the PNG load balancing requirement for the grid, the expected combined load of Madang (maybe including Ramu nickel) and Marengo or the new Marengo project power requirement?
I wouldnt see much money coming from LNG until 2015. But maybe the Ok Tedi takeover plays a part in all this.
MMC Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
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