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clock Created with Sketch. 13/06/14
12:11
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Originally posted by meerkat
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TNG's report of Feb 2014 is worth looking back on."The company remains of the view that completion of the detailed metallurgical test work programme (the TIVAN process? my brackets) is critical before the completion of mining plans, engineering and environmental impact studies." "The completion of the DFS within this timeline remains subject to factors beyond TNG's control including availability of third party equipment, resources and personnel which have had a determinative effect on progress to date." "Proposals have been obtained to conduct the mining, geology, and geotechnical studies required to complete CAPEX and OPEX for the DFS. The company expects that this work will commence in March 2014 and be completed by September 2014. Financial modelling is scheduled to take place over the last month of the DFS once the CAPEX estimate is completed."
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My feel for it is that they are probably just waiting on confirmation of the TIVAN pilot plant success before they coordinate agreements around off-take and/or DFS funding. Supply agreements can be written with exception clauses etc in case the project never gets off the ground.
(20min delay)