Horizon Minerals Limited, page-24

Yes the location is brilliant surrounding KAL .. still, I don't see the point to building a plant until the merged company has JORC Gold reserves (500koz+) to operate for more than a few years ideally 6yr+LOM esp if we are going need 50-70mill CAPEX to build a plant of size + mining costs no point running small plant with lower grades.. will go belly up real quick..

what might well happen if the plan is now to become another KAL gold producer

So 2019 all about the merger for 1H19(as to why we get this presentation) >> 2H19 converting resources into reserves..
2020>1H20 sourcing funding for further exploration> Vanadium project finally getting traction J/V with major investors etc ?? PFS project studies
2H20 - sale of no-core assets - major CR - finance on BFS
2021 >> building of plant /mining /any extra funding to see production 2022 >>>