Delays are so common in this industry that I can't see how anyone can conclude that delays of the magnitude that MNB has had are worrying signs.
I used those two examples, not to make MNB look ok with its delays but as examples of companies with delays so excessive that they actually are worrying signs. TVN's very large delay suggested a project that might never be able to raise the huge capex requirements. TTM's several year delay to release its jorc suggested drill results were not finding what was hoped would be found - that is widespread broader zones of mineralisation that would allow the hoped for bulk mining that could improve the economics of the previous very small scale mining.
I haven't seen any worrying signs out of any of MNB's past delays. Capex on the DFS blew out which has been nothing unusual over recent years. Thankfully off a very low base and still relatively very low. IFDC plans changed from what was originally envisaged but not to the detriment of the project. Offtakes took time but the first one looks great and sufficient on its own to secure finance.
Financing is now into delayed territory but that's because Lindsay is pushing for a non-dilutive option. That's not a worrying sign to me. That's looking after shareholders.
"Mining projects commonly experience delays ranging from 7 months to 2.5 years, with little room in supply forecasts for such setbacks. A Mckinsey study suggests that just around 20% of mining and metal projects are completed within their designated timelines and budgets."
https://www.livewiremarkets.com/wires/lithium-is-a-fully-charged-opportunity
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