love the enthusiasm but if this was a 'wow' moment the market missed it. Too many delays and too few promises kept. Only good news I truly read was the bulk sample is performing as expected, so we have to assume short term cash flow is on plan. Only meaningful update on the DFS is they've selected the underground extraction option and are going through scheduling and operating cash flow analysis - rest complete.
I'm not doubting the decision (having read the rationale) but as a LTSH I was surprised that in the week when the DFS is due this change in extraction pops up. I could not see this in any prior announcements that it was being considered. Markets (and myself included) hate surprises.
Lets not forget the original DFS was due in Sept 2022 from memory. Revised to March- April 2023. Now, no revised date given. Good news is they can't miss that date I suppose.
Hint: They'll not have a good track record for scheduling thus may not be able to trust the DFS operating cash projection.
This puppy won't fly until they get funds to build. They've burnt the chance with the options so its 100% down to alternative financing or we all get destroyed again with a CR at under 1c
ESR Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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