Ann: Webinar Mt Carbine Project Financing Development Discussion, page-2

Good to see a webinar update.

Lots going on with the business but not the share price.

In recent months there have been lots of announcements (in brackets what the announcements mean to the investor).
14/12/21 Share price 5.7c
15/12/21 BFS announced. Showing NPV $132m Capex $20m 12 yr mine life IRR 154% based on 14.4% of known reserves (strong numbers with plenty of upside - only 2 of the 12 years in full production).
10/1/22 Power upgraded to cope with 24 hr usage & increased production (key ingredient to expanding production).
17/1/22 Extend drilling programme (more resource to be added to the BFS and more years of full production).
25/1/22 Federal Govt grant $600k (this signals the project is on the govt radar).
8/3/22 Crushing & Screening plant secured with Sandvik increasing crushing ability by 2.5x. Finance facility of $3.36m 4 years at 5.75% FIXED. (removes bottleneck to increase capacity for production. Sandvik quality company and very good financing terms).
15/3/22 Drilling confirms extra resource in Western Pit extension. (more resource coming and open at ends).
31/3/22 2nd X ray ore sorter installed. Reduces bottleneck (when the wet screen crusher installed, 2nd ore sorter will increase production).
12/4/22 Scoping study shows 2.36mt @ 1.05% (this is high grade and provides potential to fill in at least 4 to 5 more years in the BFS study).
28/4/22 Commonwealth Govt grant of $6m (this saves the company $400k to $500k in interest per year if this was debt financed or not issuing 120m shares if equity financed. Shows the project is part of the government critical metals strategy and was successful in the first round - only 4 projects were successful).
2/5/22 The rest of the capex require has been finalised. $4m offtake agreement 0% interest and a director loan of $1.5m (project fully funded, with little debt and reasonably low interest rates. Most other projects have many times the debt level and no other sources of income & none producing when tungsten prices are high).
3/5/22 Assay tests from drilling show High grade King Veins extending. (this confirms the drilling program will add more years to the project with the deposit still open).
5/5/22 Mean while the share price has move to 5.8c

Its clear the message isn't getting out but hopefully at some point it will kick. Hopefully the webinar will provide more guidance.