Until a company is properly capitalised and has a genuine path to project finance, and key permitting which would all be started during the PFS phase, it is futile to rush to a Definitive Feasibility. If it takes several years to sort out final approvals and project finance after publishing a DFS, the assumptions of the DFS will be out of date and significant chunks of it will need to be re-estimated prior to implementation. Some of the estimates inTMT’s DFS will be obsolete and irrelevant with the next year, especially the assumptions behind the ore reserve. No one in their right mind would implement a project based on estimates that were made several years ago.
AVL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Not Held
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