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clock Created with Sketch. 25/04/21
11:52
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Originally posted by bullbandit:
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If FEL is on track to deliver 300kk tonnes by September then there is a lot of things that would have needed to transpire by now in order to meet that timeline that they have chosen not to announce. I base this off the timeline which was outlined by GWR and progress updates that were given all the way up until their first shipment. That process was over 3 months when you include port agreement and off take agreement Confirmations. It has now been 6 months and they have only shipped 150k tonnes give or take and even now that their production rates have improved you are still only looking at 80-90k per month. If one is truly objective, the likely hood that FEL can ship 300k tonnes in 4 months without even officially confirming that they are going to mine seems hopefully at best. Now the caveat to this is perhaps they and Gold Valley can seek an extension from GWR. However it’s not in GWRs interest to do so as the landscape when this deal was struck on Q3 2019 was very different. IO is more than double and GWR are now now a producer in their own right.
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If you actually re-read the announcements properly, it says nothing about 300k tonnes being shipped..
(20min delay)