I've observed since the Noosa Presentation by SG some positive comments as to the upbeat nature of the presentation and how it has re-invigorated hope for some, yet for others the 15-minute presentation was a missed opportunity to define timelines related to engineering and financing and how the TECH Project isn't going anywhere while they are not defined.
All comments have caused me to reflect yet again. And, it caused me to think back 45-years ago to a time when I was a boilermaker apprentice. We were building a Uranium processing plant and I had a first hand experience in building pipework from workshop plans drawn in isometric engineering images. For an insight into this type of engineering, see an example at
http://www.svlele.com/isoinfo.htm where it describes the process of 3D versus General Arrangement (GA) drawings for a workshop.
I then began to think about $100,000,000 worth of engineering input and put this into perspective that it represents +/- 5% of the project allocation. I then thought about SG's comments where the file size of the engineering drawings going down to 50mm pipe sizes were extremely large (any wonder). This led me to think about how large the materials inventory for building the TECH project would be and how this is converted from engineered drawings into workshop drawings, then into fabrication workshops for fabrication before shipping to site for assembly and construction.
I then thought about how many pipe sizes would be used across the site, noting that very few pipes will be straight line, I then reflected on bends, elbow's, tee's, flanges, nipples, offset's, manifolds, valves, gaskets, seals, filters, strainers, pumps, flow meters and all the nuts, bolts, washers and screws required for assembly. I literally began to realise that I have no idea how many kilometres of fabricated pipelines will go into this plant, nor the kilometres of welding (pressure vessel quality). And, that is only a beginner's look into the spaghetti of pipelines that ultimately will be interwoven into a seamless operating TECH plant that many of us have glibly talked about like a magic pudding.
Added to the pipework of course is considerable civil engineering works upon which the plant is built, structural engineering, electrical engineering, chemical engineering, hydraulic engineering, fire engineering, etc, etc. All of this has to be combined along with tanks, walkways, control rooms, switch rooms, crushers (I assume), offices, mess rooms, amenities blocks, ablutions, incoming and outgoing materials handling, inventory and spare parts stores, vehicles, laboratories and sample prep etc, etc.
This by no means is meant to be exhaustive commentary, it's more a process of self talk to settle my own expectations. This project is massive and for all the wishes and desires of all investor's; government, private equity, banks, sophisticated and retail to speed the process up, this is not a project that will simply deliver the requisite DFS and FID until the last I is dotted and T crossed. Only then will financiers needs and guarantees be met and only then can we get excited about a potential construction phase.
So, with a bit of a wake up call to self, I can be patient and continue to believe that the DNi process can be like the magic pudding of the minerals processing world, but not until the "best in class" engineers across the world dovetail all requisite systems and processes into an homogenous, integrated solution known as the TECH project.
Best of luck to all the engineers, quality controllers, managers and executive working to pull this off - truly globally game changing concept and technology that I have been proud to be a retail investor in.
Happy to be patient now.
Cheers,
(20min delay)
