The silence today is very, very, loud. No announcement so far today, means they didn't try to get an appeasing announcement out into the market...
So I still suggest they don't want this trading today, and IMHO without trading today,
@McQuade prediction will come true.
Stand back for a minute and look at the big picture...
Big old tailings dam with a group of luxury hotels directly downstream with the first buildings only 800m from the toe of the old tailings dam.
You own one of these luxury hotels.. Will you want an opencut mining operation between the old tailings dam and your hotel?? Will you object to the development when it comes up for planning approval??
Now assume you are a planner with one of the local authorities that has to OK the planning permit (or equivalent), are you going to side with the locals (and elite that own the hotels) or approve the mine for the foreign company, that will be mining within a couple of hundred metres of the hotels... Hmm..
On our farm I know it's a really dumb idea to dig a dirty great hole in front of a large earth wall dam. I'd be asking for trouble in a very wet period.
Does anyone here really think that the wealthy owners of luxury hotels, couldn't get an engineering company to write a report saying that digging a dirty great open pit in front of the old Tailings Dam is a bad idea??
OK, SGQ get an engineering firm to write up a report saying it's OK, if the miners do X, Y and Z..
Which expert report will the local planners use to justify their decision making??
If you were a local planner, which report would you use, in your local area?? All in a country that had a major Tailings Dam failure that killed 276 people in 2015..
Does anyone know of any open cut mine that's 50-100 metres deep, that has been built directly downstream of an old very large tailings dam, any where in the world, in modern times??
Why didn't Itafos do a feasibility study on this project, and instead elected to sit on it after the PEA, then sell it, when they themselves stated it would have more value after PFS and further feasibility (pg 95 PEA)?
Perhaps their directors can read between the lines of the likelyhood of this ever being developed.
IMHO way too many here are looking at the grades of some drilling instead of the big picture.. It's still my opinion that this will never be mined...
(20min delay)