Just to reframe this somehow with less emotion infolved - I work/worked in the feasibility studies development space and getting pricing/proposal data from vendors is very routine work, DRA would have known that they were not going to finish DFS on time probably about 6 weeks ago.
I wonder what the actual schedule impact is, i.e. is the DFS release postponed to March 2024 or January 2024? There is a big difference between those two.
Also with CRMA-related Strategic Projects submissions are due in January 2024, without DFS/Bankable study in place, Geomet is not well positioned for grant application as they cannot demonstrate how the money will be allocated, and how much money is required, nor can inform EU of the execution schedule.
My guess is that January is a write off, nobody works in January. February will be used to revise the available provisionary sum figures and to compile/update models based on vendor response, and that brings us to March for review and endorse workflows, and provided there are no objections from CEZ, release to the market.
EMH got another 3.5 months to wait + a likely CR if DRA are on rates vs lump sum arrangement for the development of DFS.
Strap in everyone, I reckon we are diving down to .2XX-.3XX range.
EMH Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
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