If the core samples are in hand and useable, the AUQ DFS for Khaniquiyah is highly valuable.
Unless I am missing something, the geology will be unchanged. The real value of the AUQ DFS though won't be measured in just dollars. It will be measured in time needed to catch up to AUQ (18 months to 36 months?).
Under the Saudi regs, you can apply directly for a mining license with a proper feasibility study. You can only get an exploration license if you lack a proper feasibility study. The applicants with the AUQ DFS or access to the AUQ DFS will have an advantage.
The Saudis have said before they want to see applications from companies/teams, who can deliver the whole project. With the right partners, I think AUQ merits better than your negativity. I know nothing about the team AUQ has assembled or might assemble, but I see a massive advantage for AUQ because it already has a near bankable DFS.
Yes, the economic model in the AUQ DFS can and should be dramatically improved, given changes in the market for Copper, Zinc, Gold and Silver.
Yes, the AUQ DFS will need some adjustments to bring it up to the current standards applicable to feasibility studies.
AUQ Price at posting:
7.0¢ Sentiment: Buy Disclosure: Not Held
