If it's true that we haven't been given a BOOT $ estimate since DFS in 2017 (very much possible but would need more time to look at the models released since), BOOT arrangements have definitely been mentioned since
"Recent" Examples:
9 August 2021 - MOUNT PEAKE PROJECT DEVELOPMENT UPDATE
In light of this and with the goal of maintaining capital expenditure at an attractive level, TNG has openeddiscussions with SMS to revise and optimise the model for the delivery of the Mount Peake Project, whereby SMSwill continue to provide all downstream processing plant, production and product quality guarantees for the Projectand accept local Australian engineering and construction companies to be engaged for the mine site beneficiationplant, and any Build Own Operate and Build Own Operate Transfer (“BOO/BOOT”) opportunities.
December 14, 2021 - MOUNT PEAKE FINANCING ADVANCING ON MULTIPLE FRONTS
Build-own-operate-transfer funding
As part of the Company’s funding strategy defined under previous feasibility studies, TNG is evaluating a numberof BOOT or Build-Own-Operate (“BOO”) funding mechanisms in addition to the upfront pre-development capitalexpenditure required for Project development.
Under BOOT/BOO type funding arrangements, specialist third-party groups would be contracted to finance thedetailed engineering, procurement and construction of specific plant and equipment for the Mount Peake Project,and then assume operational responsibility of these components during the Project’s operational life.
The advantage for the Company of BOOT/BOO arrangements is a reduction in the upfront capital required forproject development, with the development costs for these items then built into TNG’s operational expenditure toalign with the use of the plant and equipment. The involvement of expert third-party groups also providesoperational and maintenance advantages.
These arrangements are common in large project developments over discrete items of plant and equipment, andmay include accommodation camps, crushing plants, power stations, water treatment facilities and reagentproduction plants.
The FEED process has further assisted the Company with confirmation of the plant and equipment that is mostsuitable for potential BOOT/BOO arrangements. TNG continues to engage with potential BOOT/BOO providersacross the Project’s process and non-process infrastructure and is being assisted by KPMG Corporate Financethrough its provision of advice on potential structuring and commercial requirements for such arrangements.
Project Financing Debt
The Company is progressing multiple initiatives to secure the debt finance required for the development of theMount Peake Project. This includes commercial debt and Export Credit Agency (“ECA”) covered lines, Governmentconcessional funding and off-balance sheet Build-Own-Operate-Transfer (“BOOT”) funding arrangements.
14 February 2022 - MOUNT PEAKE PROJECT: DEVELOPMENT UPDATENon-process infrastructure requirements for the integration of the Project at the Mine Site are also welladvanced and potential Build Own Operate and Build Own Operate Transfer (“BOO/BOOT proponents arebeing targeted.Non-process infrastructure requirements for the integration of the Project at the Mine Site are also welladvanced and potential Build Own Operate and Build Own Operate Transfer (“BOO/BOOT proponents arebeing targeted.
TNG has progressed discussions with its major contractors, including SMS and Clough, to revise and updatethe project execution model. This includes a detailed review of the contracting strategy for delivery of boththe processing plants and NPI, early contractor involvement strategies, BOO/BOOT” planning, and theproject management structure.
(20min delay)