Ann: Rincon Project Approval Granted, page-52

Well, what did I say about Agy? At best this is a pump scenario, but seems even its pump and run days are over.

The abuse i get for calling this for what it is - yet the rampers are allowed to run wild with their sugar coat theories and sp targets of $1, and some at the conservative 40c++

Be prepared to be quiet and wait for funding however many months that takes to bring in the $20mil required.

After that be prepared again to wait for another 24 months before plant is built and in production. Until then we won't know what real financial metrics this 2k tpa plant will run at.

As JZ mentioned in some of his interviews, big players aren't interested in 2k size operations. They want 10k to 15k+ sized operations.

So it is no surprise there has been no funding announcement together with this permit approval announcement.

2k tpa permits approval looks like it has already been priced in by the market. This sp can go either way depending on the terms of the funding agreement if and when they do get funding.

Poor funding terms will see the sp under pressure again. But in all likelyhood, its the size of this operation being only 2k tpa doesn't excite the market and the 2 years lead time to production, market has better places to maket better returns imo.

If they get their 2k tpa plant built and produce in best case scenario of 2000 tons x $7500 margin per ton is just a gross earning of $15 mil p.a , this likely can support a sp of 10c to 15c range in 2 years time that's my assessment.