It’s good news but it’s modest. How much more de-risking before they make a FID? Now pushed out 18 months? Are we to believe the bank syndicate lenders are waiting on this 12.5% increase in brine supply? The bigger risks appear to be pond management and flotation if you look at KLL and SO4. As for capital cost saving, the initial number of bores wasn’t 189, it was in the 70’s from memory. The improvements in financials will offset the 5% royalty. I want to see them make a proper start and hopefully not balls it up like the other two. If they are waiting for good news from the other two you may be waiting quite a time for the FID. KLL look like they are working on another cap raise to pay for fixing up the plant. I can see AMN making a FID before APC at this rate (even with the trenches which MS likes to denigrate).
APC Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
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