MIN TAKEOVER?, page-71

Nope try again.

Projects that have been in production for a while have often expanded.

PLS can't even lock in one for implementation. By definition, a DFS locks the flowsheet for a given project. By coming out on the same day as the DFS and saying for that same project it intends to expand in year xxxx has just made the DFS no longer a DFS. There are now two estimates in the public space for the same project, at different levels of accuracy and neither of them integrate. Neither of them are ready to be implemented. What about the downstream refinery they spoke of - how will that integrate with the "DFS". So the DFS will need to be re-done. Negative share price movement on the first "DFS," imagine what the second one will do!

They are doing a very good job at decreasing the certainty of execution.

Mineral concentrate sales agreements up in the air, permitting issues (by the time you get to DFS you need to be at least at the level of permitting shown by AJM), downstream refinery or no downstream refinery? The project parameters are not certain, and they should be at the time of a DFS.