Clearly the delay is not welcome, but it appears to me that rather than the industry waiting for TLG it is TLG waiting for the industry to formally commit. I suspect some of the capex increase is to meet certain industry issues, specifically volume. The volume required can not be offered in the context of potential targets or even inferred resources for the level of assurance of a DFS, or even a PFS. This is why Niska has so far only been a scoping study. The images that are slowly trickling out under confidentiality agreements no longer represent bench top demonstrations or even small scale batch production, they are much more significant invoking purpose built volume machinery alluded to in the DFS.
I also suspect that the myriad lockdowns here, there and everywhere have impeded expedient progress. I also read the innovative way this small cap company has trodden the tricky road of engagement with indigenous people in the area. Two steps forward, one step back, reassess and think of possible solutions, specifically underground mining at Niska and seasonal mining at Vitangi, when the reindeer are out of town.
TLG Price at posting:
$1.27 Sentiment: None Disclosure: Held
(20min delay)