Highlights • The Kharmagtai PFS is in final stages of technical review and evaluation. o Xanadu has taken extra weeks to complete final mine design and independent reviews to the highest standard. Public announcement of results expected in mid-October 2024. o Xanadu remains accountable for PFS delivery to Australian and Canadian standards o PFS delivery will be achieved within the funding provided by Zijin’s initial US$35m investment • Operator Transition underway as previously communicated, having commenced on 10 September per the Joint Venture (JV) Shareholders Agreement. o General Manager and Chair of Khuiten Metals JV Board now Zijin’s nominees. • Planning underway for a Bankable Feasibility Study (FS). • Xanadu is in discussions with potential funding sources and other interested parties via its advisersight direction Bacchus Capital and Jefferies.
We have movement at the ship in the right direction. Looking forward to this rerating soon. AIMHO DYOR
XAM Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
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