My notes from today's RRS lunch. This is from memory so if anyone else who attended heard differently please don't hesitate to say so.
- Stated they were "very confident" of court case
- Further metallurgical test results due in approximately one month
- DFS sometime around midyear. They intend to do a DFS for two scenarios, one being using POS' plant, the other being build plant
- Plenty of gold though unable to publish previous company's resource statement in presentation due to ASX rules, refer to announcement 18/12/2015 for details. Said something about Twinings only have 8 holes past 180m and there being potential for further gold here (I didn't fully understand this and have probably misquoted)
- Didn't sound like they were putting much effort into drilling the other pegmatites at the moment, noting that the Prince of Wales drilling didn't come up with anything (as announced in quarterly)
- Photo in presentation taken a few weeks ago with 'large grain spodumene', he said the large grain, subject to met results, should result in simpler processing e.g. gravity separation
- A lot of interest in product from potential buyers
- They allowed for two questions, both seemed to be from people not familiar with KDR, one was along the lines of 'what is the legal complication you referred to' which is when a brief explanation of the court case was covered in line with what donna17 and rednoff have stated. The other was querying when the DFS was due.
KDR Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
