FLG flagship minerals limited

Ann: Change of Director's Interest Notice, page-10

  1. 11,249 Posts.
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    6 Years! Good Grief I would think not.

    So we would agree we are "somewhere" in the discovery trough. Pantanillo is already a discovery ... and FLG is working to get beyond the inital MRE in the 43-101 with infill drilling to get JORC done and with a more representative cutoff grade (I've gone through that math several times) which will lift the MRE simply due to the gold price used. Stepout drilling isn't necessarily a priority but a nice to have (with "spare change" if available) to further increase MRE.

    We are already a mostly Measured Resource - that can get converted to Reserves relatively easily - but what %. Even 50% gives Probable Reserves of almost 500Koz Au ... and that would be bankable.

    So I'm thinking using your timeline
    Discovery: 6 months
    Feasbility: 8 - 12 months (permitting is the challenge)
    Development: 8 - 12 months ... this is a dump leach project, dig it up and put it on the leach pad - no crushing etc.
    Startup: 3 months

    So 25 - 33 mths (2yrs - 3 yrs) ... I'll go with 30months ... Months to Metal set at 30 ... first metal Jan'28... nice aggressive goal. It is possible (I'd like to think even probable with the right capitalization of the company) but it needs everything to go right and there is nothing conservative about the goal (fools errand). Probably between my 2 1/2 yrs and your 6 yrs .. so 4 yrs 3mths ... so Oct'29.

    But hey, I do have a more bullish view of the project.


 
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