Restart delayed now to early August I think this is an improved monthly report compared to past reports - greater clarity and good update on the essential elements for restart. Gives a bit more confidence that the demo plant will in fact restart and get that 3 months of production and performance data.
Possible hurdles:
We have to hope that EPA don't come out with more questions after their review.
It's still unclear how the labour aspect is going to pan out. It looks like the labour will blow the budget and that's why the urgency to sell the land.
Not sure if they have the cash to operate the demo plant for 3 months and to what extent the land sale is critical to that.
A few things things I remain uclear about: 1. Status of the dispute with Mincor - whether they accepted the LMG offer? 2. Where are we with a site for stage 2? 3. Where are we with the non-binding MoU's for stage 3. 4. Do they intend to sell and lease-back the land that the demo plant is built upon? I expect these 4 items may be addressed in the quarterly due at end of July. We should have a bit more clarity on our financial position then too.
Hang in there folks. Keep a stiff upper lip and tighten the sphincter, no need to "drop the bundle" just yet.
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