spp extended to 7 feb, page-18

If I am not mistaken LCY will have to come up with a preliminary feasibility study sometime during the course of this year, something that involves the use of engineering and geotechnical studies for a more in-depth look at resource extraction as well as environmental and permitting issues and preliminary capital and operating cost estimates. Depending on the level of detail, reserves can be declared at this point.

However the key point of the preliminary feasibility study is to identify areas of concern that warrant more detailed investigation.

Therefore, soon we will be in position to have a an idea of the reserves, the extraction and processing methodologies to be employed, the magnitude of the capital required, etc, and, of course, what kind of problems we will be facing, including the crucial one of the financing.