The mining PFS was due to be released in early Feb according to the quarterly. As today is the 9th there is not a lot of "early Feb" left.
We should therefore be expecting a very positive announcement any day now. With the ore body in a very confined space, the strip ratio should not be large for the first few years, which will enhance mine profitability. I'm really looking forward to this first part of the studies as I believe it will rocket us past the 7c level.
If we can get to 10-15c then raising the capital for the mine should be straight forward.
At 15c the company is only valued at $165m on a fully diluted basis. There is still plenty of room to issue stock of another 200m shares raising $30m and enough for the deposit on the mine with a BFS.
Better still would be an offtake partner stumping up the whole $100m for a 25% interest and guaranteed supply. For some of the larger Chem companies, that would have orders for lithium battery ingredients, it would be but a drop in the bucket for supply of spodumene concentrate.
I'm waiting for this PFS with baited breath, and believe it will have a huge impact on the SP, positive of course.
AJM Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
