@tbirdsrgo ... Don't be shy, please show where I'm incorrect...
Do you think that what is underground has changed in those 12 years? Do you really think the 6mt of 1.02% niobium is worth mining, some from on land owned by CBMM, where the tailings dam is, at a capital cost of over $US600M back in 2012...
In the PEA that obviously couldn't attract funding, they used a price of $50k/t for niobium in revenue, whereas today WA1 use $US30K/t in presentations. Do you think the capital costs have reduced in those 12 years??
Did you bother looking at the Itafos PEA document as it has so much more information that SGQ just happened to leave out...
How about this from pg 24 of the PEA.
"The regulations relating to radiation protection and radioactive waste disposal are managed by the National Nuclear Energy Council (CNEN). At the appropriate time, CNEN performs an inspection and evaluates the activities and materials involved, defining, for each case, the procedures that must be adopted.
AMS is unaware of any environmental liabilities to which the Araxá Project is subject. However, of particular note is that the current measured and indicated mineral resource is located at the base of a tailings dam wall."
So your loved management, that has done nothing but cost investors dearly for over a decade, conveniently forgot to tell shareholders that there is already an MRE over the area, that is located at the base of a tailings dam wall, that likely holds radioactive waste!!
As a shareholder you should look up as much detail around this deal and the resource as possible then vote against it at the EGM, as should every investor.
This resource will NEVER be mined. NEVER!. It is way too costly for such a little resource under the tailings dam wall!! The vendors must be jumping for joy at getting rid of these tenements for some cash.
It's such a bad deal, I'm wondering if it's been set up to fail at the EGM so that the company gets to keep the $2.5M raised in placement under current ability without shareholder approval, as they'll all be placed next week, while the hype is still around, assuming people don't wake up between now and then...
It's a fascinating read and lots of photos of the actual area included, plus all the diamond holes drilled etc, including those of CBMM back in the 70's...
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