project update, page-4

hallelujah! fingers crossed that the meccano end of the plant will continue at design throughput with minimal unscheduled interruptions.

"half glass full" points from this ann:

1. plant now has engineered redundancy beyond original spec, namely additional/spare sludge pumping kit and spare ball mill motor;

2. potential $$$ down the track if litigation against suppliers is succesful. (anyone know under which country's law this would be done? i.e. suppliers' home country or domin rep?)

3. loan repayments deferred until 31 march will assist short cash flow issues which in term reduces the risk of a dilutionary cap raising. (anyone know whether the deferral is new news or old?)

4. both points 2 and 3 above have potential to add significantly to s.p. (point 3, if it is new news, in the short term and point 2 in the medium/long term).

5. disclosure by pgi of their issues (and their timely explanation and resolution) throughout the commisioning/ramping process has, imo, been first class and a credit to senior management.


for now, on with the fine tuning of the other plant circuits, and so with the shipping of those (hopefully) increasing quantities of dore ...

k