As expected, more or less in line with the Scoping Study.
Seems there's a fair bit of revenue upside with today's gold/copper prices that would probably add another $10-20M to the NPV. Not to mention the resources not included in the current short life of mine.
Tidy project to get things started.
As I understand, the potential offtaker has the PFS now and is going through their final decision gates. This announcement reads like they 100% want the offtake, but the pre-payment amount and terms discussions are ongoing. I think the most important thing here is to seal the deal on the offtake because that will open the door for debt financing if there's no pre-payments (albiet at likely ugly interest rates).
I think by end Q1 we should see: - Offtake agreement signed. - Ground works for NS commenced. - Either pre-payment with the offtaker or other debt financing. - Small debt facility mentioned in this announcement signed. - Probably a small CR once the SP has appreciated a bit with the above news to cover the remaining gap in capex needed to get to first cashflow. Ideally they can do it to an existing T20 or new cornerstone rather than to insto/sophs who will just churn it.
It's make or break... good luck to all holders.
AAU Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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