Conceptually there are 6 options: Build a Spodumene Concentrator...

Conceptually there are 6 options:

1. Build a Spodumene Concentrator ( high capex, high risk, high cashflow, long development time )
2. Build a Spodumene Concentrator and Hydroxide Plant ( very high capex, very high risk, highest cashflow, very long development time )
3. Crush and ship the ore with no processing ( low capex, low risk, lowest cashflow, short development time )
4. Crush the ore and use an ore sorter to improve head grade ( low capex, low risk, medium cashflow, short development time )
5. Sell the project to the Chinese ( low capex, low risk, short-term but potentially sizeable cash boost )
6. Do nothing

3. and 4. could both provide near-term cashflow ( thinking 12-18 months before this could start ). They would need to complete some kind of feasibility study and economic analysis plus any necessary environmental permitting. There are no tailings to manage so this would make the permitting easier. I think either of these options are the most likely. A number of people working for them have good experience in mining, particularly in Snow Lake. They also have good contacts with people that used to work at Tanco.

As for selling the project to the Chinese? Not necessarily a bad outcome if they sell it with a Measured and Indicated Resource. They would get more money for the project if they sold it fully-permitted. Lithium recovery is starting. In this scenario NVA would get about 70% of the proceeds, Progressive Planet and the seed shareholders their share of the remainder.

I do think though that 3 and 4 remain the most likely outcomes.

I think that the Pot stock frenzy in Canada has finally died. I read that a Pot-stock ETF is closing. The distraction of pot stocks significantly impacted the market for mining IPOs in Canada.