Intensive drilling to continue throughout 2021 in what should be multiple directions.
Commencement of EIS and targeting approvals process. DA Application with Cobar Council already submitted for accommodation expansion.
The Scoping Study findings were based upon the June 2020 MRE, not the improved Feb 2021 MRE. nice.
Read into the above all you like but in my opinion Federation is a goer and by the time they finish the FS the project will be fast tracked to a FID. The fact they are commencing the regulatory process at the end of a Scoping Study is akin to ordering long lead items for a new mine. It is also a bit of insurance as we unfortunately know it takes too long to jump through the regulatory processes these days. So starting the EIS now will mean this is done by the time the FS is complete. Then a State development consent application can be lodged mid 2022 as well.
I was surprised they are considering a new processing plant as I would have expected the existing plant at Hera to process the ore. Great to see they are looking at all options including trucking some ore at Peak Mine. To me it suggests they will be mining Federation whilst still mining Hera.
Great to see the market reaction today. Lets hope it continues.
AMI Price at posting:
43.5¢ Sentiment: None Disclosure: Held
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