CXO (ASX) Banter and general comments

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15/06/21

11:19

Post #: 53844608
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Originally posted by Kiwisfly9: ↑

In all honesty, I'm not 100% sure of the answer and I'd rather disclose my lack of knowledge rather than pretend I do.

But I would think that a DFS could be released as long as the pricing was deemed realistic and verified by a qualified party or persons. Having just skimmed the DFS, it looks like they bring outside consultants to independently peer review the document and given at the time of the release, only a fraction of our total amount was in a binding off-take with Yahua, logic would dictate that having binding off-takes (at least for all of the spod we would produce because the majority was not included in any kind of binding offtake yet), is maybe not the complete be all and end all of the price listed in the DFS. They may just be an educated guide or a reflection of current spot prices or contracted prices etc.

But these documents do need to be ticked off by a Competent person's statement, from a qualified person to an industry-standard so it's entirely possible that market rates from a reputable source, checked by a reputable person outside of the company are permitted. In any case, the going rate generally speaking seems to be at or above our DFS figure at the moment so I wouldn't stress about it too much either way.

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g’day kiwi

Im more confident in Cxo than ever
its just that ppl expect results yesterday this is the biggest drill campaign yet just don’t expect any drill results for a while, of course, there will be other announcements, drill results may be 6+ weeks away unless there’s some shows, there is a multi faceted group of announcements expected in the interim all I can say is ring the company if you have any questions

regards views

Originally posted by Kiwisfly9: ↑

In all honesty, I'm not 100% sure of the answer and I'd rather disclose my lack of knowledge rather than pretend I do.

But I would think that a DFS could be released as long as the pricing was deemed realistic and verified by a qualified party or persons. Having just skimmed the DFS, it looks like they bring outside consultants to independently peer review the document and given at the time of the release, only a fraction of our total amount was in a binding off-take with Yahua, logic would dictate that having binding off-takes (at least for all of the spod we would produce because the majority was not included in any kind of binding offtake yet), is maybe not the complete be all and end all of the price listed in the DFS. They may just be an educated guide or a reflection of current spot prices or contracted prices etc.

But these documents do need to be ticked off by a Competent person's statement, from a qualified person to an industry-standard so it's entirely possible that market rates from a reputable source, checked by a reputable person outside of the company are permitted. In any case, the going rate generally speaking seems to be at or above our DFS figure at the moment so I wouldn't stress about it too much either way.

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CXO Price at posting: 25.3¢ Sentiment: Hold Disclosure: Held
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