twas a night to remember!, page-2

Hi Foxtrot,

Nice evaluation and I think you are pretty spot on with most points.

One other important point with respect to the PFS of the itabrite, is that it does form a very significant part of the financial modeling even though most of the cashflows are 10 years plus out. These numbers need to be included in any financial modeling and negotiations. Hence the need to get this done at roughly the same time as the DFS.

As far as releasing them together goes, sure it may have bigger impact to go at the same time. But, it could also have a benefit in finessing the final number if the PFS itabrite number is released just when negotiations are about to conclude on the finance deal with the main play (i.e. DSO).
Imagine, a finance deal is about to be inked with a 70:30 debt:equity split. Wait a minute our itabrite resource has just been upgraded and now we want a deal of 75:25.

Both scenarios have their benefits. Let's hope that GJ and team have a clear strategy to maximise our deal (as I am sure they do!).