”ITAPITANGA NICKEL-COBALT PROJECTSimulus’ advancement of the Itapitanga JV has slowed in recent months. Simulus has verbally requested an extension on the JV terms which required them to deliver a Scoping Study together with a maiden JORC Resource in Q2 2019. No material work was undertaken by Simulus during the Quarter.For the time being, Centaurus continues to work with Simulus to allow them additional time to advance the project as the Company still believe that the Simulus project plan for the Itapitanga Project is the best solution for the Company and the Itapitanga Nickel Laterite Project.”
And there you have it. They are blaming Simulus as expected, but I blame them for not putting penalties in place. Do we really want to grant an extension to a company that hasn’t made us a priority. I think not but management does stupid things.
Ann: Quarterly Activities Report, page-2
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