Good morning Troy
I disagree the BFS of April 2022 fell over because potential financiers did not like the idea of processing at Tendinewa.
I recommend that you (and anyone feeling confused about this matter) take a look at the
[06/04/2022 Australian Vanadium Bankable Feasibility Study]
The mine life given in that study scrapes into a 25 year ‘life of mine’ category by relying on 20%
inferred resource from waste dumps and tailings.
Actual ‘19 year’ LOM was not good enough for anything but that part of our current grant looking at extracting value from tailings.
How do I know?
Less than a year ago the giant French global bank, BNP Paribas wrote:
Investors in early-stage projects typically require a higher cost of capital to reflect the associated uncertainties.
Early-stage projects would benefit from policies which provide revenue visibility and stability over the longer-term (20+ years). …
BNP Paribas Exane Research Bushveld page 26 [26/05/2023 BNP Paribas Bushveld resport link ]
The merger with TMT was not so they could have an onsite processing plant Troy!
It was to extend the LOM into a project
reputable funders would agree to finance!
As to them writing to seek an extension to the timeline on starting development at Tendinewa ?
It was hardly
“wasting time and money”;
Why let it fall over even if they are not going to use it.
That land falls into a major new green energy development zone and, as AVL has (unofficially) noted, there are merits/value to that location which you may not have considered including that they have dibs on the land for around $2.8m according to my maths and BP recently paid $2.3m for a property not too far away!
[ 29/10/2019 Option to acquire 1,334 acres @ $2,100 per acre].
Once again :
The Tendinewa location was not the reason AVL was unable to get funding.
And all that’s really been done as I read
@alecfra and
@Hawk70 posts is a logical request for an extension of time on a submission already approved!
(20min delay)