Interesting that says PFS completed by December 22 however I clearly recall that the location selection recommendation was due by 30th September 2022 - maybe I got it wrong.
What I would like to know(extracts from announcements):
1. PFS - Is phase A completed?The PFS - A phase is expected to be completed by the end of August and will be presented
to potential partners. The full PFS (PFS-B phase) will be completed by the end of the year.
2. Admin building - Finished?Completed architectural drawings for the administration building refurbishment. Contract package for theadministration building, security gatehouse and carpark were tendered and awarded for construction toallow mobilisation for major construction contractors. Construction works are expected to be completed inSeptember 2022.
3. Has the 2nd tranche of $10M been accessed?On 13 December 2021, LMG signed a binding term sheet with RnD Funding Pty Ltd (“RnD Funding”) for theprovision of $23 million of loan funding. The facility agreement was signed on 16 May 2022 and is available tobe drawn in three tranches
i) $10,000,000 in full, was drawn on 24 June 2022;(ii)
$10,000,000 in full, on or before 30 September 2022; and(iii) standby line of $3,000,000 available to be drawn between 1 January 2023 and 30 June 2023.
Would give me confidence that it's progressing. No problem with delays just would like to know reasons for delay.
