I re-read the last Khmargtai update carefully. A couple of things I hadn't noted.
they said Bacchus will be providing options... including third-party interest.
they are progressing to Bankable Feasibility Study (BFS not DFS).
Definitive Feasibility Study, more common, is a lower standard than BFS. I once asked a CEO what the difference was. The answer was not fully clear to me but what I gather is, BFS means something presented to banks at the level banks want. DFS means ready to get the ok to start taking it to banks. I.e there may be a couple of smaller steps.
That means the Bacchus report and BFS XAM's interest will be at the FID. Final Investment Decision point making Kharmargtai seamless and imminent for construction on any XAM interest retained and/ or sold inclusive of financing. (Eliminating any further leverage Zijin would have hopefully having paid for it).
Now all of the above might seem fine points or hair-splitting but XAM and each of us are going to be faced with some important decisions shortly. I'm just getting it out there for those who care on wish to discuss/debate it when ready.
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