My assessment of their chance of success, is that they have two fundamental flaws:
- power (always been a problem), although a lot of alternatives are offered by the company, this is a very real barrier to a bankable feasibility study and
- management, this project will never advance with Nigel in the frame.
I've lost track of his age, I think he is in his 80's and the project and knowledge is in his head, there is no succession plan and a large loan account ($ 729 254) that will be demanded from the company on his death. They will have to do a very large placement to cover the loan repayment. That together with the other debt, makes the company very vulnerable.
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