Project Engineering 101 - FEED, page-4

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Hotazel

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14/01/15

13:27

Post #: 14582191
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Originally posted by Hotazel ↑

Mate,

The DFS was completed in 2011. All their subsequent presso's which addressed the EPC bidding processes boasted about the bidders' quotes aligning favorably with the DFS (in some instances , better). They were meant to have FUNDING locked away a long time ago. You are now suggesting that the FEED is a necessity for Funding. BS. Why did not then attend to FEED when they first started boasting about getting tender docs for P&R and the Mine Infrast. These were 2 processes that were meant to run concurrently from the outset but then things started changing at the beginning of 2014 when, all of a sudden the EPC for Mine was placed on back burner and pushed out further and further. Then at a late stage they came with the FEED?? Was it just another "little oversight" which they failed to attend to??
If you ask me, FLUOR was probably the only prospective bidder for the Mine EPC but they've placed a condition on any prospective bid, namely that they wanted to do a FEED first. Seems there was no one else interested. Have we been told everything. Transparency??? Zilch, nada, nuffing.

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For your info:

http://www.*.com.au/companies/news/...-for-west-african-iron-ore-project-15277.html

I'm not saying this might not be the case (funding institution now requiring 'fresh" FEED for DD purposes, but if that is the case, this might still take a while yet.

SDL Price at posting: 3.1¢ Sentiment: Hold Disclosure: Held
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Project Engineering 101 - FEED, page-4

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