Can it rock on..??, page-25

I was wondering the same thing... From my perspective nothing has changed since the Webinar a few weeks ago (my notes below).

Perhaps day traders expected the Scoping Study to be announced already?

Metallica Minerals

ASX: MLM

• The world is running out of high quality Silica Sands.
• Already have interested parties from around the world
• Cape Flattery is renowned for quality exports. The Cape Flattery Silica Sands project is adjacent to the world class Cape Flattery Silica Sands mining and shipping operation owned by Mitsubishi
• 100% interest - 56Km2
• 38Mt - Drilling in June will expand this resource
• $7m recently raised
• MC: ~$15m
• ~500m SOI
• Flannery Family Office on the register.
• Looking for additional projects. Will not do a deal that will take focus away from Cape Flattery.
• Plan to build a jetty. Jetty could be built 800m from mine. Multiple external stakeholders supported their proposed jetty location. MLM have complete access to the beach.
• Drilled on tracks for maiden resource. Further drilling is approved off-track for additional drilling.
• 22 drill holes = 38Mt
• 82 holes have been identified for drilling in June.
• Strict QLD restrictions could prevent other companies from building a jetty. Significant competitive advantage is being located within the designated port boundary.
• The jetty will have a capital cost but will be a tremendous benefit to the project.
• Cultural heritage agreements have been signed.No delays to drilling in June.
• Will negotiate employment opportunities for traditional land owners, perhaps will negotiate a royalty when mining in future
• Next 6 months with plenty of milestones to come: Metallurgical testwork underway to produce premium product, Continue Environmental studies (June), Scoping Study results to be announced (3-4 weeks away), Follow up drilling program in June to further define the resources, Mining Lease Application to be submitted (3-4 weeks), Preliminary discussions with Off-Take Partners (underway), Further investigation of infrastructure options (likely to build own jetty), Pre-Feasibility Study underway (starting mid-year, complete in Q4 2021)
• Hoping to only need to go through an EA process and not a full Environmental Impact Statement. (Timeline dependant on the federal government)
• Undervalued when compared to peers. VRX significant kilometres to travel to get their product on a ship. DRX are in the same region and are located outside the designated port area.
• The next drilling program will have a measured component. Proven and probable resource will come Q3-Q4 this year, for the PFS.
• Cape Flattery Silica is the brand and will be used throughout the project