Transport costs are not the biggest consideration.
It is whether Winsome is able to finance the costs of getting to production.
It the current low price environment (although that last spod auction was above US$1200 a tonne which is better than it has been), it will be difficult for prospective producers to secure adequate financing on acceptable terms.
It has been problematic for LTR. It will likely be challenging for LRS and very difficult for PMET. When the market turns then things get easier.
Renard is a game changer in that respect (and in a few other areas) - the alternative is the very real risk that financing will be a big problem.
Don't drink the cool aide of transport costs - they will not be that big an impost, particularly as mining and processing costs will be low quartile.
Expect Winsome to be profitable even if spod price are lower than now (even if that seems a highly unlikely scenario by the time Adina is producing).
WR1 Price at posting:
96.5¢ Sentiment: Buy Disclosure: Held
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