Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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People in the mining industry have already commented that EUZ scoping study reads very much like a PFS.
Perhaps an easier way of explaining ‘certain elements’ is updating SS with latest metallurgical and ore sorting results plus ‘certain elements’ of PFS equals a full blown PFS......
I re read the funding RNS.....Certain elements could actually also mean the incompleted elements....as don’t forget many elements for PFS are already available in the SS....no where does it state the PFS will be incomplete.....Bobby I think you are so correct.....different ballpark now.
Good spot Bobby. Morningstar as well reported as such.
https://www.morningstar.co.uk/uk/news/AN_1597828577895880100/europa-metals-fundraises-to-complete-pre-feasibility-study-at-toral.aspx
I think you right Bobby...also I would guess a mining license would have to be a pre req before any forward selling can take place.
That alone is worth 38 million quid at a discount rate of 10 quid an ounce. ...I think will give us some change even after a BFS....:-)
If between LR MC and Conrad they can’t forward sell the silver before the 2 million runs out by end of next year imo they all would have failed in their jobs......and we won’t be around...:-)
We have 3.7 million ounces of silver indicated !! Surely in share holders best interests this can be forward sold rather than more dilution...
BB, when I spoke to LR a while back I’m certain he said that he didn’t want to forward sell the silver. Now I know things have changed since the consolidation and he may well have reconsidered that point, but that is what he told me pre consolidation.
ATB, and have a good weekend, Pete
That’s where the JV or non dilutive like forward selling of silver comes in Bobby....me finks...:-$
Yep...that’s why I think the EU funding is currently being negotiated and LR is confident they will reach some agreement hence him RNSing that it has been applied for. As you said imagine the egg on the face if it is not granted.....
Syntax I was told the next round of drilling isn't dependent on the new permit but I agree its starting to look tight. On the hydrology we've had piezometers being monitored throughout one winter already but I guess that monitoring will go on through exploration, development and mining. The bore hole seems to be a bigger deal than I expected initially. Could be right Bricks though I think if more drilling is required to de-risk the mine it is arguable that local prosperity is dependent on its completion. I guess the rig crew are based in the region? Anyway it's definitely going to be structured and conditional so looks like the all expenses paid investors trip to Toral via Barcelona and Seville is on the back burner for now :)
Could everyone stop highlighting what massive potential this company has as, as usual, it's having a negative impact on the SP...
:)))))
I don’t see the EU funding being used for any further project work streams. My thoughts are the agreement will state the funds are to be used to retain staff and operational salaries etc. Hence LR stressing until signed....negotiations still taking place imho.
Quite possibly....I was also wondering how long it will take them to get a drill rig and team on site....and where the contractors reside.
Any one want to take bets on the near-term news sequence ? Here are my thoughts anyway:
1) Investigation Permit - the renewal was applied for at the beginning of June and the current permit expires in about six weeks time. Without it I assume all on-site work stops, so surely this is urgent now.
2) As Shed says, Bara's preliminary economic parameters will likely be announced before the new drilling program. I don't know how much work is involved in this, but it shouldn't require additional data ?
3) So news of the next drilling program could follow shortly after. They likely already have a good idea anyway.
4) EU Funding - having been involved in a bid myself, I know that that the process is complex and lengthy. I would be surprised if it was announced very soon. And as we have £2M in the bank, its not exactly urgent anyway.
5) I'm guessing that the hydro survey will take 12 months so as to allow for seasonal weather/rainfall.