On the September Quarterly S32 thread, Saracenm said:The Hermosa...

On the September Quarterly S32 thread, Saracenm said:

The Hermosa has slipped back yet again. Now due March 2024.

S. refers to this in the Quarterly:

We invested US$71M of growth capital expenditure as we progressed construction of key infrastructure and commenced federal permitting for our Taylor zinc-lead-silver and Clark battery-grade manganese deposits.

We expect to complete the feasibility study and an independent peer review for the Taylor deposit in the December 2023 quarter and announce the study results and a final investment decision in the March 2024 quarter.

We commissioned the second water treatment plant, a key milestone in our critical path dewatering activity, and are on-track to commence construction of the Clark exploration decline in the December 2023 quarter.

We submitted a mine plan of operations for both the Taylor and Clark deposits with the US Forest Service, commencing the federal permitting process under FAST-418.

We directed US$6M to capitalised exploration during the September 2023 quarter, as we continued exploration drilling at our copper-lead-zinc-silver Peake prospect, to follow-up recent high-grade copper exploration results.

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Difficult for S32 to announce FID until it has all necessary permits in place. This is allegedly what FAST-41 is about.

Few appreciate just how big these orebodies are, still open in a number of directions. Making billion $ plans on undefined parameters is no easy task.

Hermosa will be an active mine for decades. Another quarter to further refine the plan is a shruggable event. Holders would like to fully capitalise Hermosa's value immediately. Sorry. We will have to wait.

Ash