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.
(20min delay)