The plan for phase 1 is pretty much unchanged but there are a few things of concern
To complete phase 1 to the schedule the affected people would have to be moving now but nothing for some time has been available on that. I guess its sensitive but if they are not on the move then the schedule wont be met.
Payback is now 6.6 years from the previous 18 months, I guess that was inevitable with phase 2 being 90% of production.
Nothing in the presentation on how they plan to raise the 240m US for phase 2. If either of the top 2 where going to front up I would have expected to hear by now as that would have given the sp a push. The revenue from phase 1 will cover the 15m loan but not much else so I feel they need a new major investor.
This remains on my watch list and I plan to reinvest if the future becomes clearer.
Add to My Watchlist
What is My Watchlist?
