Great to see things progressing. Obviously drilling and a resource upgrade are catylists to the share price but I also liked this paragraph too ...
Other elements of field work are expected to be undertaken in parallel with drilling
activities including environmental, cultural heritage, and civil works surveys. All these
works are being done in accordance within our planned and expected BFS timeframes
Here I think it's worth revising what those BFS time frames are. The chart showing the timelines is located in the announcement with the link below. For some reason I can't upload it here
2924-02382002-2A1302118 (markitdigital.com)
The chart shows that the resource upgrade will be finished by the end of Q1 next year - along with the demonstration plant run. I guess that means drilling and results are all in and we'll know how well the future plant will run by the end of March. I would expect some pretty exciting announcements regarding these issues over the next 6 months.
The chart also shows contract and financing begins in at the start of Q2 next year, as well as construction. With environmental, cultural heritage and civil work surveys all beginning soon, they must expect to have a mining license before they begin construction. The first stage of construction, I assume, will be civil works such as roads in and pads for the processing plants etc. I find it interesting to see they plan to begin the first stage of construction at the beginning of contracts and financing. They must be confident of a ML, as well as some degree of finance to begin construction early on quarter 2 next year. If all this goes according to their chart, I would expect announcements re ML and financing, perhaps including offtake agreements, in the first half of next year, many running parralel with the resource upgrade.
The way I see it - we have a bit of a wait now but works are really beginning to gather momentum. A few months and I would expect to some pretty interesting announcements to begin rolling in.
GLA and keep up the good work Bryan and the gang
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Great to see things progressing. Obviously drilling and a...
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