I have compiled this from information I could find in ANNs, please feel free to correct me or add anything to this.
Positives:
Cobalt Resource upgrade:
16% increase of Cobalt resource, 30% increase in grades = better NPV
Cobalt upgrade to 5000 tons per year, as 23,800 tons of Cobalt Sulphide
Cobalt price assumption upgraded, (PFS assumption was $12lb currently $34lb don’t think we will be seeing $12 for a long time..) also price assumptions of specifically Cobalt Sulphate, what they actually will be producing and selling. (sells a t a premium to cobalt metal.)
Platinum resources:
My rough maths shows about 25,000 ounces a year @10,000 ounces per million tons of ore average, 2.5 million tons of ore processed a year, $1000 US a oz so give or take $25,000,000 worth of plat a year. (im probably wrong here, happy to be corrected)
Updated mining plan with a focus on greater efficiencies and lowered OPEX?
Negatives:
Possible downgrade in Nickle production and resource but not much, and more than offset by cobalt increase which is worth much more to boot.
Possible higher CAPEX with Platinum recovery? Of course will be off set but platinum recovery though!
Wishlist:
Scandium to be included in DFS (but I doubt it, I presume they will stockpile it for a while when producing but who knows)
Update of off takes, updates on funding, decision to mine can construction date timelines.
Over all i think the DFS will be a ripper and result in a share price re-rate to at least $2
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