I totally agree with the no CR, but I have to disagree that there is no immediate haste to develop SDV. The arse has dropped out of the spod market and Mt Cattlin has a limited mine life. GXY needs to get on with developing a second income generating asset, to supplement the ever dwindling sales from Mt Cattlin. GXY have proven through the A40 investments and the last quarterly report that fiscal control is not really their thing. The quicker we can spend that money on developing an income generating asset the better IMO.
I would also take all GXY shipping forecasts with a grain of salt. While the shipping forecast for 2020 is conservative, GXY have proven to be wrong in this area time and time again. As far as James Bay goes, it's a pipe dream. It is not economically viable without an accompanying convertor, therefore GXY would be on the hook for between USD$500m-$1b to get JB going. And let's not forget that GXY doesn't currently have funds to proceed SDV any further than stage 1. Stages 2 & 3 combined will probably be in the vicinity of USD$250-300m. Add in all the unknown costs and blowouts (Nemaska anyone) and GXY will require somewhere around USD$1-1.5 billion to fully establish SDV and JB. IMO, you won't see SDV and JB both in operation until the 2030's....
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