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10:56
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Originally posted by chuk:
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I might have worded that better. My point was that they were confident enough to order and spend millions on plant on the back of the scoping study without waiting on the DFS so I can't see why they wouldn't keep going now with the DFS completed and a lot more cash on hand now ($23mill at end of the quarter) compared to the amount of cash on hand when they made the decision to proceed with the plant.
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Yeh I agree.1. Purchase of land: There are a bunch of important things that could / should be happening right now (e.g., earthwork and roadwork, building and lab construction, installation of power and electrical utilities etc). None of this has started because the land still hasn't been purchased yet. 2. Angolan gov approval of AFPPP MOU: For whatever reason, the draft MOU has been sitting on someone's desk for several months. Minbos can't afford to finalise the purchase of major infrastructure components until it unlocks the US$25m Jayson debt facility. But in order to source this debt, it first needs to confirm offtakes. The AFPPP is likely to be the framework under which in-country offtake arrangements are agreed.
