re: Ann: Ativa Zone - Indicated and Inferred ... Doubt they'll bother with much more resource definition drilling. They don't really need to for the moment. There wasn't much change in the upgrade from inferred to indicated and the indicated resource at Ativa alone can now easily produce 10 years at 220tpa plus vanadium. Should be enough for a very attractive feasibility study. Quality of the graphite should lead to very low capex and production costs.
Even conservative estimates on capex, margin and production rate show that this project should have huge free cash flow from year 1 and should only be restricted by customer demand..
Ann: Ativa Zone - Indicated and Inferred Resource, page-4
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