On your last point about Objective 2: delineate new Mineral Resources to support a Phase 2 of similar size to Phase 1 by end-2022 & a larger Phase 2 up to 20,000tpa LCE by end 2023...
It's reasonable to drill, analyse, estimate (then repeat), thereby iteratively adding to the mineral resource. It is not reasonable to have multiple rigs on site, run a large campaign, and then expect the assay results to be available within a few weeks. The assay results current backlog is 4~6 months.
If it takes 18 months to cover some of the 1000 km2 mining lease to establish mineral resource sufficient for a 20 ktpa Phase 2 chemical plant, then that's not a problem because Ph 1 at KIZAD will still be in its commissioning period. The BoD is never going to make a P2P decision before P1P scale-up has been proven.
LPD Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
(20min delay)