Thinking the same thing, Sidsuss.Been re-thinking my previous...

Thinking the same thing, Sidsuss.

Been re-thinking my previous post. The gross tonnage @ $25/tonne gives a reasonably attractive long mine life number. But looking at a proximal agricultural limestone market that could absorb a projected 227Kt annual production with an estimated market value of $22-$33/t for Ag-Lime and $17-28 /t for road base, suddenly you're looking at gross revenues of only $5 - $6M PA. Strip costs out of that and it doesn't look like something with the scale that Apollo normally go for.

The comments around 'sales and marketing assessments focusing on quantifying the market, the range of quarry stone products, estimated market size, and probable economic metrics....will inform key inputs in technical studies to evaluate potential mining and processing scenarios at the Project, including potential scale of operations,' seems to suggest they're doing a lot of the legwork so that any potential buyer knows what they're in for, and from there, what would be an acceptable price for an operator to come in and monetise it.

May be overthinking things, but reads a bit like they know how much limestone they've got, now it's about figuring out if it's a worth the effort. The asset is there - what's it worth?

Agree with your comments, Need10Bags. That they're still looking at other acquisitions with the November deadline looming suggests it's not a lock. They're certainly tight-lipped. Any other outfit would have the pump going on this, especially if they knew they were going to proceed.

Maybe that will come? Doesn't feel like it right now.

Sunday morning speculation. Time for a coffee.