Hi RM. Yes I was excited about SJ program finally being...

Hi RM.
Yes I was excited about SJ program finally being commissioned but by the second assay results I quickly realised why Ryan stalled the SJ exploration program for many years. Proof was in the pudding when further results were ANN until management pulled the pin and stopped exploration with no JORC, SS, or feasabilities provided since, yet they have a valid EL.
Remember that once approval and permits are given the appropriate studies JORC financing and termsheets need to be complete then once a binding offtake is in place a CAPEX for open cut DSO is relatively small along with low OPEX. No HPAL just DSO. So this could get of the ground quite quickly. It all depends on the binding offtake for Ni steel grade and the operating cashburn of this opulent management.
Hard to tell as Ryan has not produced NPV IRR EBIT or any facility payout figures. Estimates known thus far are 2mtpa @ 1.3 but no definitive feasabilities to show this. The BFS will show whether this small DSO operation is bankable, 5 yr JORC. We await more definitive news once K ans SJ are given the green light to mine.
Cheers and GL.