Trying to go into production without having bothered doing a DFS, what could possibly go wrong!
US$290M capex estimated in December 2023 has now become US$22M because Phase 1 has gone from 6,000tpa to 150tpa. Completely changing their plans from the PFS without doing an updated study and just throwing out a two-pager.
Don't forget PFS used a "conservative" LCE price of US$21,000/t (best you check the current price)
Looks like they're following the GLN playbook of splitting the project into tiny phases and spruiking "non-dilutive" funding options, whilst also diluting shareholders via an ATM with a loan shark. Probably worthwhile checking out the Galan chart to see how that worked out.
AZL Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
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