A few things I could think of for an early start on stage-2:
- demonstration of real production costs and hence margins, by at least allowing stage-1 to run for a year. This ought help satisfy the financiers.
- coal prices not falling much from where they are now. I am sure that prices are close to bottoming.
- transnet making available the tonnage capacity to the port/s.
- additional offtake contracts. Export may be a given, but it would be great if Eskom suddenly realised their predicament and signed a big one. Wild card would be having a big power plant built alongside the mine.
RES Price at posting:
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