We are at a point where this question in imo is not unreasonable. I have been in this for a quite a while and always been positive, but I think we have reached the end of the road.
Is BG prepared to outlay the CAPEX for a magnetite project? I've always rationalised that BG had an idea on the CAPEX, so continuous funding of the project indicated they were comfortable. The last resource update suggested the beneficiation process maybe simpler than other beneficiation processes. Can't escape the fact there is the right but not the obligation. Few million initial outlay to reserve the right, is small, on what is essentially a billion + resource project.
Rant As a SH, I haven't been fussed on their lack of updates up until now. Last quarterly suggested they are still trying to meet the sale requirements. If so, what are the requirements, how about a market update please?All previous announcements implied that obtaining a ML would seal the deal.
Outstanding Requirements Take on face value there are outstanding requirements.
DFS
Is it a DFS they require? If so, shouldn't AHN have disclosed to the market as a requirement? Pretty important one IMO. The fact they haven't outlined this as a requirement, I will give the benefit of the doubt this was not needed especially if BG was going to mine this themselves.
Port Storage and Access
I have not seen any reporting on the logistics of transport. Could this be the "other" requirement, agreements for port storage and access? Just looking at neighbours, could they be trying to finalise an agreement with another miner eg. MGX, Iron Hill seems to be winding up this year so presumably they won't be utilising Geraldton much in the future.
Probably way off track here, they should just inform the markets on what is really happening.
GLTAH
True Sentiment = None to Buy
AHN Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
