Phew.... well the announcement is not really material, but it is...

Phew.... well the announcement is not really material, but it is when you consider how much speculation there has been over the downstream scoping. It has felt like they've stepped away from McIntosh, but that's not the case. This confirms that there's been no change from MIN and that the JV (which includes HXG) is currently working on "metallurgical testwork to define a process flowsheet." So we're still looking at Nov for the full scoping study.

Sounds like they have put this out to reassure investors on their strategy, due to confusion over the downstream scoping. This should increase investor confidence. Solid announcement. Not sure it needed a TH, but it's better than silence and may have saved investors from jumping out purely based on the recent price slide. Good stuff!