I am disappointed about the missed timelines as well. When I invested in the mine should have been ready end of this year.
So now the new target is 2022 when PSC wants to finish the mine with a development time of 18 months.
I follow the lithium market closely and hold a lot of other lithium junior mining companies and I know 2019 isn't the best year to get funding for lithium mines but still I really do hope they do not need another 6-12 months from now.
I agree with you, arround 3 Mio per Quarter to spend feels high. Lets see how much cash will be left when they announce this end of the quarter in about 30 days. But for sure, if PSC can't get the funding done till end of this year, there will be another capital rise. I hope it will not be at these ~11 Cents levels.
PSC/Hugh has done a great job from the time when they bought Arcadia, the first drill holes, PFS, Sinomine offtake deal. Everyone must admit, till that point everything was done very quick.
I still have hope, because PSC is one of the 10 biggest lithium mines in the world, has the ultra low iron petalite for the premium glass and ceramic prices, Sinomine offtake deal, showelready.
This is my personal opinion only and it is not financial advice. Do your own research.
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