Partly different numbers - they better double production as these numbers are miles off the mark and who knows how much further after DFS and BFS.
The numbers are way off and given the PFS timing was also way off they better make some solid announcements to gain some credibility.
Little wonder the SP is where it is.
They employed a number of key staff to get this project fast tracked but there is nothing solid in PFS just confirmation of what we knew all be it with blow out in costs and profitability and payback period. All assumptions - like the mou with rail - not worth the paper it's written on. How can one believe they are at advanced stages of product sales when they are a long way off production - still have mining license - environment concerns re the proximity to lake and city - transportation unknowns - electricity unknowns and so on.
2020 they stated production now who knows.
2 months late with PFS I was hoping it was for good reason - something special to advise the market.
I still remain upbeat but while this is going to take longer than first stated they need to increase production targets and start drilling one or two of the numerous other highly prospective sites to bring them into production soon after Malingunde.
This will show confidence in what they are saying about sales negotiations and mine developments - $40 million p.a. is nice but double or tripple that with increased production targets or second/third deposits mined will certainly improve profitability.
seems to me those in the know - his buddies are sitting on the fence having pumped the scoping study - taken profit from inside knowledge that the figures here in the PFS are way off.
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Partly different numbers - they better double production as...
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VIRIDIS MINING AND MINERALS LIMITED
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