Well considering our totally Tonnage is upwards of 15 at the moment, I think if we had another 4-6 million bucks to throw at exploration drilling we could probably grow past 20 and onto 30 no problems with the site we have.
The big problem is simply that bloody spod price. Once it begins the march up again, I expect the pressure from potentially buyers for us to sign will become greater and greater as they will want to lock in the prices then and there for the first couple years of the mine before the gouging begins. The good news being that we are then in a strong position to suggest Financing us with a pre-payment as the best way forward for both parties.
But that Spod price isn't showing any signs of upward movement yet. Still, the most recent stuff I have read is suggesting that a number of chemical processing companies are booked out for the next few months till Christmas and that the once gluttonous spodumene inventories that many chemical processors were sitting on at the beginning of the year are dwindling further and further while battery producers ask for more and more as demand finally starts to catch up.
Between now and Christmas, I reckon this is a "watch this space" situation for the market to finally turn. There is likely to be a ramp up in January as Chinese New Year gets closer as well so it might just be that management have some market intelligence which suggests that a end of Q1 updated DFS release is a very realistic possibility.
Does anyone amongst us have an Asian Metals account??
(20min delay)