@InItEarly lolol damage control after the damage is done? What damage? Saying that for PMET to ship spodumene concetrate, route 167 provides a shorter route to rail than the current proposed path along the Trans-Taiga (TT), Billy Diamond Highway (BDH), and eventual Matagami rail station? A toddler could figure that out.
This has got to be the most delusional stock board on the internet, with posters having either an intentional lack of understanding on some complications that Winsome faces, or worse, genuine incompetency. Hard to believe posters when they have been abhorrently wrong on other boards about metallurgy, geologic interpretations and drilling, and more. Heck, even about Winsome capital raises. Here are some replies to the many comments:
Shipping in the James BayImo, the key to shipping large volumes of ore in the and the path to cheapest shipping costs in the James Bay, is connection to rail. Y'all keep touting costs. Many estimates suggest that the cost/ton of shipping via truck is ~3-4 times greater than shipping via rail (reference:
https://www.rsilogistics.com/blog/comparing-the-costs-of-rail-shipping-vs-truck/). The longer the travel distance, the greater the cost advantage of rail. On a cost basis comparison, the rail segment would have to be 3-4 times longer that the trucking distance to achieve similar summed costs. So back to the feasible shipping options for PMET (and perhaps Winsome long-term).
| Shipping route | Estimated Completion Date | Pros / Cons |
|---|
| 1 | All weather road, Trans-Taiga (west), Billy Diamond Highway (south), Matagami rail station | Already completed for PMET, Winsome needs route 167 extension north to TT | Roads already built / longest distance to rail. |
|---|
| 2 | All weather road, Trans-Taiga (east), route 167 south, rail connection at route 167 termination | Construction of route 167 extension not slated to begin until 2030 | Shorter distance to rail / route 167 extension construction not slated to begin until 2030 and potentially additional capex needed. |
|---|
| 3 | All weather road, Trans-Taiga (west), rail connection at TT and BDH intersection | Construction of rail connection to Rupert not slated to begin until 2030 | Shortest distance to rail and likely cheapest shipping mode to Becancour or elsewhere / rail extension construction not slated to begin until 2030 |
|---|
The last option will likely have the lowest shipping cost on a per ton basis, and would be most favorable for PMET (potentially even WInsome). Problem is, who knows when the rail extension north along the BDH gets built (same for route 167 extension).
Production date of WinsomeWinsome production by 2027? No permitting required? What??
Winsome must submit Environmental and Social Impact Assessment (ESIA) documentation post completion of sufficient baseline monitoring and aggregation of sufficient knowledge on mining impacts at Adina and plant repurposing at Renard. To give you an example, here is when Patriot plans on completing baseline monitoring at Corvette, having started the process in 2022. ESIA submission is planned for early 2025, and review is not expected to be completed until late 2027 (say 2028 to be safe).
Winsome must submit the exact same documentation, and undergo the exact same approvals (minus HADD permitting) at Adina. They are at least 1 year behind PMET in baseline monitoring studies. The Renard plant also requires re-permitting due to repurposing. Don't believe me? Here is Chris Evans (at 13:20) stating Renard requires re-permitting. Or see the RockStock interview posted today that included Winsome. Winsome cannot say permitting will be expedited (risk is definitely lower), but I see no potential path for how Winsome will be producing by 2028, if ESIA documents are not submitted until 2026.
(20min delay)