I gave you a TU but it probably wont last long, as you are not too popular on this thread:)
I think the science has probably moved on quite a bit from those early studies (which I read part of on the w/e). The announcement at the end of November is supposed to only be a guide as to what the metallurgical process is likely to be, as the definitive process will take months to sort out. It is complicated and may be costly too (from a capex and opex point of view). Fortunately this project has near surface ore close to infrastructure, so overall capex and opex will be low compared to most other projects, hence the high IRR.
I take comfort in the fact that management are relaxed that the metallurgy is doable, otherwise I doubt Ian Burston would have stumped up $280,000 of his own money to buy shares recently. Nathan Taylor would have the latest information to hand too, and that is what he is communicating, perhaps in a simplistic way.
It sounds like the participants of this placement are getting a great deal. I wonder who they are?
Umi
EIO Price at posting:
33.0¢ Sentiment: LT Buy Disclosure: Held
