Valuing MEP: The Poochera JV, page-3

Well IMO the ADN PFS is a bit of a fizzer - yes the resource will support a much longer mine life and therefore a greater valuation if you believe the crucial Sales assumptions underpinning it.

IMO no real "meat" has been added to the updated SS and so no real progress!

Biggest disappointments-
no substantial progress on firming up offtakes or broadening buyer interest or any confirmation of Sales price forecast,
further delay in commencing operations (2022) - fairly surprising with all the to-do about how simple the DSO option would be to produce cash flow.

Still, any further delays (and costs) in commencing operations and reaching positive cash flow will be borne by ADN alone.
As i have said on the ADN thread MEP is in the box seat with the Poochera Project (IMO).

GLTH