A good announcement for the physical project update. It is BIG....

A good announcement for the physical project update.

It is BIG. 50% bigger than the original Pilgangoora (PLS) plant operation.

No bells and whistles (dragonfly’s etc) just a lean mean fighting machine that will almost certainly be in the lowest cost quartile, if not the lowest SC6 producer on the planet when it hits nameplate.

Shit loads of space, no worries about native title etc.

However, it is disappointing that the negotiations or should I say “engagement” is taking time. No timeline can be given.

You would have to think that there is point in time that is fast approaching where commissioning and production commences and:

1. A deal is sealed.
2. No deal and and the project stalls. The JV partners agree in essence to put Goulamina into C&M

There are other possibilities.

Saying that, the longer the Mali Govt allows the $$$ to be spent by the JV which includes Leo the harder it is for them to back out. They may want to be seen as their own destiny makers, but the reality is they are just as reliant on USD as any other country in Africa.

GLTAH