i don't claim to take responsibility or influence to that update. though it could be considered coincidence given that a similar update was released days after my previous email.
Regardless, my take is similar that of
@Scarpa. DFS is on track as this is contingent on the infill drilling which is only possible after dewatering. At just shy of a meter a day it should be empty in less than a month.
what's starting to look like smoke re-funding is all the background work and appointments being made. A project director specialising in EPCM. We had Michael Bourguignon as project manager appointed 6 months ago with a similar portfolio namely managing the Syrah works. peter Huljich the investment banker specialising in debt and equity deals.
then from the background work perspective - meetings with Tanzanian officials re logistics of transport, personal meetings with Felix (drc president). you'd have to garner that they wouldn't be hosting the meetings on a whim. that said, if there isn't anything close these are all very positive things for a prospective investor to know that the board has forged strong relationships with key officials.
I'm growing more inclined that there may be something far closer to fruition that is currently led on. this is driven from the fact funding is consistently re-iterated that it is sufficient to dfs completion and that avz obligations was to fund the project until that point. additionally the appointments of the key epcm people and Chairman would be quite counter-intuitive if the board wasn't confident of a change in status from exploration to development. The key for me will be the additional project acquisition: I think funding arrangements/offtakes are underpinned by having that additional % at their disposal for negotiation.
SF2TH
(20min delay)