Broadly, the Mt Thirsty JV is currently refining the cobalt and nickel extraction process (see recent video) before moving ahead to PFS (as this will put the company in an evern better position to secure funding).
All going to plan, expected cobalt and nickel yield increases will dramatically affect the NPV of the project, and at that point there are a few ways forwards to fund PFS through to mining. The directors have said that "all options are on the table", but the general feel from discussions at the AGM is that an idea scenario is an off-take partner providing 'stream funding' - so financing work upfront in return for long term supply and/or price guarantee.
$210 million is a lot of money, but it's a LOT LESS than other (HPAL process based) comparable sized cobalt projects. And that, along, with all infrastructure close is the JV's key competitive advantage.
Solarbat
BAR Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
