I know they've certainly started the conversation Gcar and i am sure that aer well advanced. I just am surprised at the length of time given the relatively small figure being asked for and the economics of the end result plant once it can crank out 2K tonnes of white gold at 99.5%+ it's a positive looking project with so far proven capability to produce product and large partners so where is the funding...?
Personally would love to see the funding be similar to ORE in terms of a debt tie up with interest holiday from interested japanese partners. That would be ideal however given low production we may not be offered such generous terms. Dilution would not be kind to us given our current Mcap so debt with low interest/interest holiday would be ideal.
Fast track criticism remains we are now 3+ years into the journey with 50 tonnes a year of production to show for it. in a year or so we may be able to produce 2,000TPA however there is no clear time frame for funding being locked in and secured to make that a reality.
GXY is not a good comparison IMO. Management there apart from the sale of half of SDV are completely inept. The mothballing and slow decision making on SDV certainly is a shambles. That is not to say if they pulled their head out of their.... and put some real cash down for SDV operations that they might not move quicker(disclosure: i also hold GXY sadly). My comparison would be looking to other briners already in play, what plants are being planned, built and production increases.
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