It was not banned, there was just a high tariff added which would make the LD project uneconomic with the previous pricing. Hence they had to re-do studies to get to the dore solution... But now, with such high metal prices, there is an option to pay the high arsenic penalty and still make a very healthy margin.
Long term the dore is always going to be lower risk... but it is much much higher capex... at least there is flexibility and they can decide later on with both options in hand. If NS is highly successful, perhaps they can go the dore option. Otherwise, maybe the lower returns but much lower capex option for LD can still work.
I think we all agree though. NS needs to get off the ground before anything else can happen.
AAU Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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