Mine Development

It took 4.5 years for PLS to go from acquiring the project to opening the mine. May 2014 to November 2018.

Now AVZ is expected to take around 6.1 years from Feb 2017 to Mar 2023.

I don't consider this not to be too much longer given the change in the DRC government and the Covid 19 conditions. Also you need to take into account the size of the the resource (huge compared to PLS) and the location of it with the assays being completed in Perth.

Hopefully the process of obtaining the mining licence approval can be sped up, which I think it will be given the government's standing behind the project so far.

Note that the submission of the application for the Mining Licence may be sufficient for the finance companies to approve Finance.

@Roon-Aus Reply
Roller, do you sincerely believe that we are going to have a mine in production in 22 months then, from the current position we're at?

Reply:
Absolutely possible - 22 months from now - March 2023.
Now that the DRC Government has sorted itself out somewhat things should speed up. Felix will want to see the mine progress as fast as possible as this will be in the world spotlight and increase his prospects of being re-elected. As the world sees more and more evidence of hold ups in the EVs development caused by a shortage of raw materials they will look more and more to Manono.

Also Covid 19 will start to decline with the roll out of the vaccine.

I see these two items being the main things that have delayed the project so far.