All companies fall into this valley of death pre-production the...

All companies fall into this valley of death pre-production the hype of the mining right 16th July 2021 has faded and been replaced by despair by everyone who has stuck it out those almost 2 years.

The real tragedy is that it took 10-12 years of fluffing with the various South African governments and mine departments to get that mining right reinstated in the first place. However I was not around for this but I see this as about as close to in production as you can get other than buying after the news is released to market.

Given the pessimism that prevails here i feel an astute buyer maybe able to buy a sizeable portion on the way up after an announcement. It'll be a slow burn up for a few weeks imo.

Fundamentally though things have progressed fairly well:

16th July 2021 mining right

between October 2021 - March 2022 they successfully finished the rehabilitation of the mine. Meaning they have an uninterrupted path to 400m down / Qala Shallows as soon as they mobilise. There's been millions spent on infrastructure already which no one seems to appreciate.

October 2022 Sibanye Toll Treatment.

Finance by end of June* Hopefully. That's 6-7 months of negotiation now can't be far off.

Jac's can claim from approval to mine to actually mining less than a 2 year turnaround if we get mobilised before 16th July 2023.