"I predict that Wanbao will prove to be time wasters........"
Even if nothing else comes from the Wanboa process, the very least HAV get is an updated PFS which they can then use to market Kalkaroo to other interested parties. Considering how tight cash has been, it's extremely unlikely HAV would have been able to pay for this themselves. So, far from wasting time, Wanboa have accelerated the project by paying for that document.
I don't know how much the PFS has cost, but, GRR released a document this morning stating that the "Board approved $10 million investment into first stage of pre-feasibility study for underground development in North Pit" so I suspect it's a not inconsiderable amount of money.
The number one thing delaying this project at the moment is the lack of a signed NTMA.
HAV would be in a much stronger position to negotiate anything if they had a ML in the back pocket. If I was a Wanboa executive, I'd be asking where it is and how on earth can we discuss finance when there's no guarantee the project can even proceed. Indeed, they might even accuse HAV of wasting their time without such a document.
"Unless they have found a limitless source of cheap energy and water I wish they would give the magnetite resource spruiking a rest"
Strongly disagree. Some of the most important infrastructure for a project is rail & port access.
Well:
"In a glitzy event in Adelaide on Sunday, Premier Jay Weatherill committed a re-elected Labor government to major works on road and rail crossings, further extension to the city's trams and construction of a deep-sea port in Spencer Gulf."
If HAV (& others) are able to prove up a significant resource, if the deepwater port goes ahead, if HAV is able to produce a premium product, then I suspect there may be considerable interest in HAV's iron ore resource. Certainly a project worth moving forward considering the lucrative cash flow potential.
HAV Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
(20min delay)