Considering the news out of BMN I went back and took a long hard study of the Scoping study put out earlier this year. I understand it is a preliminary document. IMO I think we won't see the issues BMN is having. No costs have been excluded in the study (except a possible need to throw money at the desal plant project - completely hypothetical a this point) The only big surprises in the DFS would be:
Bad stuff 1 A decision to build a sulfuric acid plant 2 Capital contingency towards assisting in the Namwater desal build out
Good stuff 1 Higher grade/longer mine life from incorporated drilling 2 Improved recoveries 3 Acid plant would ultimately lower op costs significantly despite capital outlay (excess capacity could become income source from mine sin SW Africa) 4 Increase in production scale
So, some issues to worry about but it won't have the kind of project crushing effect that we saw on BMN. I am not bashing BMN just using it as a tool for comparison.
EXT Price at posting:
$8.28 Sentiment: None Disclosure: Held
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