Production, I was always under the impression that production would commence around end 1st Qtr 2017 or beginning 2nd Quarter. The delay a couple of months. This delay was augmented by the ZEMA delay. Rightly Alex did not commit until approval had been granted. This is minor in comparison to delays in road works we suffer here in the UK LOL's.
Klue is correct, only direct costs in the $120. I have included $2.5m in my calculations for indirect/fixed costs which will hopefully cover Head Office Costs. Do the calculations for 2020 onwards, that becomes EXCITING.
The $120/t is just the average processing cost for the end product to be produced? Nothing else accounted for?
In regards to bonuses/rewards all we know at the moment are the "Grant of Options" RNS 15.06.16
Options below at 6p
· 25 per cent. on the first announcement of interim or year-end results following successful testing of the pilot plant;
· 25 per cent. on the first announcement of interim or year-end results following first revenue from a commercial sale of product from the production plant; and
· 25 per cent. on the announcement of the next interim or year-end results thereafter demonstrating a continuing commercial revenue stream.
Any further bonuses and incentives would surely come after these have been achieved? If the above is achieved and BMR becomes successful and with it the SP increases then thereafter I'm sure management would be deserving of bonuses and very likely salary increases.
Also on the costs side does the $120/t cover the cost of director salaries and bonuses? Very easy for the estimated 5m GBP net profit to diminish if they start awarding huge bonuses if/when the pilot plant produces.
AB and co's options are at 6p (I believe ) they need to pay for them , much like the warrants but they can take them up anytime , milestones permitting , but the first 25% was available immediately, just for AB being a jolly good chap
It feels like we are as close as we've ever been to the final stretch. Tangibly so. At least we actually have a plant that is being designed to process the actual raw material we have in abundance on site, unlike previously with the Copper Plant debacle (when we should've all realised)
I'm not too worried about WKS but it would be a bonus as more cash we wouldn't need to raise by 'you know what'. I think given the plant costs are likely to be less than $2.68m that should leave us with some ACI cash to play with as we await full commissioning of the plant.
Correct me if I'm wrong on my understanding of options but aren't "options" just rewards? I don't think any money comes into the company just management rewarded for hitting a milestone?
If that is the case FXL5 then why has this slipped so much in terms of mechanical progress? I am all for this btw but more of a level 2 schedule as opposed to the level 0 we keep getting. Once we see more detail and when in the planning together with significant milestones then you will see the upward movement in the SP that you avert to. Good luck hope it takes off.
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