it is shaping up to be a long slow grind with the possibility of...

it is shaping up to be a long slow grind with the possibility of not finding higher grades that are shallow enough.
i had to leave my computer after only having a glance at the thing. i had not the best of vibes but i expected the price to be about the same - ie neutral. yes, they can mine the stuff but need to drill a bit more. missed the negative base case npv, didnt see it.
the red flag was in the first highlight "Prefeasibility Study shows no ‘fatal-flaws’ to development potential targeting 1.5Mtpa phosphate rock production for export sales (Stage 1);"
------ no fatal flaws ------
it boils down to grade and rubble to ore ratio. too much rubble and low grade ore.
i came back to see that there was a bit of a rout.
i have still got oppies, no buyers.
i feel as if they have pulled the wool a bit over the last year or so.


that is the way of it. i am a bit hacked off because i waited so long for this one. (you can wait this long for a winner also)
i have just had a good old whinge.
next step, get rid of oppies for as much as possible so i can have a poke at something else with a good chance of going up.