Let me get this straight...
- They just had a wholesale management change after the completion of the pre-feasibility studies.
- Initial CAPEX of 366 million?!
- 8 to 1 strip ratio on case 2 - which has the ONLY positive NPV on the PFS
- Currently the junior has less that 40 million tonnes inferred resources
- Case 1 model gives a break even NPV? How are they going to get a proper bankable study for funding in this capital starved market?
- No projected cash flow in the intermediate term.
Time to buy? They have to drill and delineate a lot more than 250 million tonnes to make this appealing enough for capital funding. Metallurgy is still wanting...
Looks interesting but one needs much more discoveries and mineralisation intel to warrant a purchase. Much more undervalued stocks on the board.
Ann: Reinstatement to Official Quotation , page-4
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