Ann: Colluli DFS Update, page-6

Personally I think it's related to the fact that we won't be shipping from Anfile Bay but instead trucking containers of product to Massawa. A cheeky way of letting the market know that a major change has been made (probably against the wishes of our board).

The announcement certainly implies that the change of tactic is positive due to reduced CAPEX to build the longer road and construction of the PET but I'm curious as to the operating costs it will add.

Reduced CAPEX means less dilution (probably) which is great. Higher costs means less profit which is not so good. I guess I'd prefer to convert the cost to OPEX to get the project off the ground and look at the port later.

I have a bad feeling that the DFS will delayed. Again.