Thanks for your comments, Pyroxene, very elucidating. I guess the conventional way of demonstrating economic viability is via a feasibility study. PFS looks good to me, with the high Capex perhaps the biggest hurdle, happy to hear other people's thoughts. Now for the big ticket item of finding funding for the DFS (yes, thank you, Captain Obvious, you can sit down now).
A few points that come to mind:
$1.95 million cash as at end of December quarter, with an expected expenditure of 0.65 million for this quarter, i.e. a projected $1.3 million in the kitty at the end of March 2020. IMO, I'd expect them to rattle the tin again and raise capital as soon as in the June quarter. Raising any half-decent amount at this tiny market cap would result in significant dilution unless some other solution is found.
Major Project Status for Hawsons is due to expire 18 Dec 2020, "by which time significant project milestones are expected to have been achieved", see ann. 23 April 2018. I'm sure they're keenly aware of this timeline. I guess finding funding for a DFS would be a pretty major project milestone, so fingers crossed.
CAP Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
