I agree and think the project has substantial potential, its just the over promoting seems unnecessary and detracts from the quality of the asset they have. In the end, 1Bt is meaningless. A mine would likely be less than 2Mt/year, but if you were generous and said 4Mt/year, thats 250 years of mine life. The existing resource is more than sufficient in size, what I would like to see is improvements in the grade and metallurgy showing that more concentrate can be produced from less rock. This would drive CAPEX down and improve profitability per tonne, reducing payback and releasing value from the asset.
Getting a drill rig on site to improve the quality of the resource is the best way to add value for the shareholders. This is one I am watching as I suspect the PFS will struggle to show a very attractive NPV given the grade. It will be interesting to see what pathway they pursue for processing as the capital for a roaster will be high which is why I think they are pursuing the idea of processing of concentrate overseas.
I'm looking forwards to seeing the PFS before jumping in as it could swing either way at this stage.
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