They can and will argue that the mine plan and operation needs refinement before any market release can occur. At the same time they already know the key elements and cost drivers that will apply; such as how much of the orebody is accessible in the early years, chemical consumption rates, associated electrical usage and infrastructure for the options they are looking at.
These sorts of elements have been hinted at in phone calls, private market briefings (like the one you were not invited to) and broker briefings. Or more recently I would imagine in negotiations with institutional holders over refinancing the debt.
But mostly they have had the data, cash, support (esp. the Chinese involvement) and time required to produce a DFS. Or at least the elements that would show the mine is profitable or viable. They just haven't released this information to the market.
There is only so much they can get people to study before refinements don't drive the cost of the project.
MMC Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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