Ann: Final Results from 2024 Drilling Program, page-3

^{You must realise that the Jervois mine site is in the middle of nowhere so its development necessitates significant new infrastructure.They need to build roads.airstrips,
power and water infrastructure.I expect the Government will kick in quite a bit because the copper concentrate will help keep the
Mount Isa smelter and Townsville refinery operating for the next 20 years at least.
I don't think the project lends itself to a smaller size and I believe they have hit upon the right model which is maximise the size of the plant to match the
maximum from the open pits in the early years.
I would expect KGL to appoint a financial adviser within the next two weeks.
It will then take about 8 weeks to put the first stages of the debt package in place and sell equity in the mine.
I am looking for them to sell 25 per cent for a $100 million equity contribution and for at least $50 to $100 million of government debt.
Glencore should be good for much of the working capital as it needs the concentrate.
The stock will fly once the project financing is complete.
Another possibility is the Salim Group might want to bid for the lot.
This project has excellent exploration potential but I think we all want to see cash flow before we keep chasing the big rainbow which is
another Ernest Henry.}