Interesting.They have plans to pipe water, but no G's pegged to...

Interesting.

They have plans to pipe water, but no G's pegged to allow them to do it.
They have off-tenure borefields to supply water, but no bores or G's to access those bores.
But what do I know? I'm no tenure wizard.

In risks (pp 51) the company states work was performed on water risks. But it doesn't state the work concluded and covered off the risks. The Modifying Factors (pp 59) state further work to define water resources at Meekatharra will be needed.

I cannot recall, though I only vaguely monitor this company, a comprehensive groundwater and borefield exploration program. Happy to be proven wrong, but I do have concerns that site water isn't easily found near **anintha. And there's little to show of any activities at Tenindewa in this regard. There's no L's for water exploration pegged, so I guess it's all going to come from the Geraldton reservoir at WIcherina Dam, which I'm sure will go smooth as silk.

The haul road to the highway (L51/116) is pegged, which is about the only miscellaneous license. All up, very little preparatory tenuring seems to have been undertaken for water pipes, corridors & c. This shows there's an incomplete commitment to the decision to mine, and given the 12-18 month lead on grant of tenure with native title and other objections, the reality is there is no mine without no water. If it's 12 months to tenure, and then 18 to water bore fields (if not more) the mine isn't starting till 2025-26 best case. That's if AVL pins its ears back and goes for it without proven water reserves.

Year 4 to 7 strip ratio climbs to an eyewatering 17.2:1. The highest strip ratio year is the same year they are achieving payback. Risque mucho? I dunno, I'm no mine scheduler.

Then they shoehorn 4 years of digging Inferred on the back end at 6:1 to 2:1. Though theire production schedule pp 5 goes to 26 years, but the table cuts off a 24, so Vince alone knows the strip ratio of those last 2 years of digging Inferred.
So they really only have 22 years of Reserves. But I'm no mine scheduler.

I guess they'll go drill up those low-strip Inferred tonnes into Reserves between now and 2049. I mean, with 17:1 on odds ahead of your diggers on the vinegar stroke year mayhaps it behooves one to put some different dirt in the chute those years? But what do I know, I'm no mine scheduler. I guess the problem is complex, as they say on page 5, with the need to blend. Which is weird, because after year 7 they're somehow feeding the same blend into the mill for another 12 years?

I suspect we got this BS-F today because the $49M of election pork from Scottimus Moronison comes with strings attached (in typical ScoMo style it was light on deets, like the government's Scamphlett on Nett Zero 2050). So I suspect - with perhaps no real evidence beyond a hunch - that this came rattling out of AVL HQ in order to tick a tickybox in the $49M manufacturing funding grant that says something like "need to prove a reasonable amount of work is complete".

SO, ScoMo's cash is in the purse it seems, assuming the cash handout survives the election, and there's not too many strings attached.

Of course, the NPV and IRR are a stretch. But that's OK, because BCI got 60% of the Mardi salt project funded by the government, so it's likelythat the same amount of corporate welfare will be doled out here.