Steady on Magpie. I understand your frustration (Not Anger) as beavau may have suggested. This news really is VERY GOOD.
Whether youre a long term CQT shareholder or just an investor entering the market today the news from the company is outstanding and I dont really think the market and shareholders realize how important it is with regard to major company milestones.
My take from the last three company up-dates is that Conquest is on the cusp of securing an off-take agreement and with the Sino boys background Id like to think its as good as done. Without the off-take you DONT have a mine. What naturally comes next is finance a it appears there is a very good chance of that coming from one of the major Chinese smelters (Critical Milestone). Additionally, they say they have improved metals recovery and from my estimates that would be close to the numbers of the Pre feasibility not the DFS. Therefore, we should be back closer to an NPV of around $300m. Considering were trading at a market cap of around $110m THAT IS SPECTACULAR!!!!!!
Then today they have awarded an Engineering study to Calder (a proper mining consultant, NOT accountants) to optimize the cost of construction of the plant and re-jig the latest metallurgical findings into the flow sheet all by the last quarter of this year (not that far away considering the current quarter ends in 2 months time). Again, a positive sign that Mt Carlton is heading towards a mine.
From what I can see theyre not telling us everything at this stage but I would imagine that there would be some tactical moves here with the bid for NQM by not giving away the whole position.
Having said all that, I still dont understand why were bothering with NQM. In my view its a DOG and so are the management - just a bunch of ex Newmont hacks hanging on for dear life and to a job that was handed to them to off load a burden off the Newmont books. Anyway, we have to have some faith in Klein and his Sino team so well just have to wait and see..
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