It looks like N.C. is taking a razor to NTU’s strategic planning, IMO it’s good to have a new set of eyes on the strategy that’s not so beholden to past management and board decisions and where the sunk capital lies(although most of that has already been dealt with with pilot plant writedowns and the exploration & evaluation expensed).
I suspect pausing the Beneficiation F.S. would be also due to the slow turn around in assays delaying a JORC update, therefore potentially missing yet another milestone...
On the drilling results, (I’m no geo’s butt…) some of the early assays look promising to my eye, particularly the D.D. core at Cyclops logging 15.65m @ 1.83% TREO and the R.C. infill drilling at Dazzler logging 25m@ 4.92 and possibly expanding the interpreted mineralisation shell at Dazzler to the south west. Rockslider & Banshee R.C. results @ <.5 0% TREO is a meh for me. Perhaps someone with some geo. expertise could comment ( @2ic if you’re interested?)
With the 3 year pilot plant test program winding up, the drilling program assays starting to come through which should lead to a JORC update at some stage and the work done on to date on the beneficiation F.S., I hope that the board decide to concentrate their resources on a full revision of 2014 DFS/BFS and set some timelines for a FID.
(20min delay)