Thanks @Student that is very informative. Looks like some of Hebang's associates have been buying up as well which is a very good sign.
looks like there were a couple of hidden updates in the directors report especially around the DSO:
The Northern Territory (NT) Government granted Mining Authorization providing approval for a 5,000 tonne test pit, the first 40,000 tonnes of DSO operations and grade control drilling across the Arruwurra deposits. . In addition Access Authority was approved to allow modifications to the existing access road between Barkly Highway and the Arruwurra phosphate deposits to support safe and efficient operations. The NT Government is currently considering the Mine Management Plan ("MMP") for the balance of proposed DSO mining at the Arruwurra deposit, plus the addition of drilling to support physical properties test work across the broader resource.
A revised resource tabulation based on the existing resource model was published to support DSO operations beyond the initial feasibility study. . This tabulation was based on the proposed DSO P2O5 cut-off of 27%. The resultant tabulation was 66Mt@30% P2O5, placing Wonarah as the largest high-grade Phosphate deposit in Australia.
In light of prevailing market conditions, the company has analysed the long-term demand for phosphate ore and is further optimizing the DSO Project across various aspects, including mining, logistics, and production capacity. The ongoing development of the DSO Project remains commercially viable.
The feasibility study, completed in October 2023 aimed to evaluate the viability of a start up mining operation with an annual production capacity of 836,000 tonnes of Direct Shipping Ore (DSO). The study suggested that the project was both viable and profitable. Avenira continues to optimise the original study in light of prevailing market conditions and is conducting further feasibility assessments and engineering designs for capacity expansion, with results to be disclosed upon completion.
GLTAH
AEV Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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