"Primary, secondary and tertiary crushers have been inspected by Sandvik. Only minor refurbishment was identified, and this work has been completed. The primary crusher dump pocket has been relined, civil and steelworks completed. The pebble crusher was also inspected by Sandvik and repaired.
The Ball Mill has been inspected by local engineers and found to be in excellent condition, further inspection by Thyssen Krupp took place in April with no significant issues identified. The mill was ‘inched’ regularly when stood down to prevent damage to bearings."
Looks like the crushing and grinding circuit is ready to go without any major works necessary, as expected.
The positive cashflow is a huge plus IMHO as it gives a great platform for the start of mining of the satellite pits, obviously starting with pit 5 very soon..
The news flow will keep coming within a few days based on this ...
"Finalisation of new Mineral Resources for these deposits, design of mine plans and the estimation of Ore Reserves is expected by the beginning of May, which should allow for completion of the LOMP for release to market shortly thereafter."
All that has to happen here is a continuation of the work program to add significant value to the company. We don't need luck in discovery, nor luck is gaining a large amount of funding at a reasonable price for this to be a success, just continued work. IMHO from an investment point of view it doesn't get better than this from a risk/reward perspective.
Well done BOD/management, just keep doing what you have been doing for the last 6+ months, and thanks from all of us shareholders...
FFX Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
