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Maybe some drilling results from the new licence areas as well as the ESIA submission? BA seemed to be quite pleased when he purchased those and given what's been identified across the road by our neighbours, if we find similar it could well be good news long term.
These need to be way higher though if the AGM is to be a forward looking one....
News leaked or not, it needs to go up a lot more than this for me at the mo.....
But happy at last with some upward activity
Lets hope so Fastjet
And good news at that
Agreed with last post :-) xxp
Daz, that paragraph is me quoting somebody I spoke to who works in mining.
Either way the first part of the paragraph that you're nitpicking on is irrelevant. A DFS is undertaken to prove to investors its worth investing in i.e. in this case MLL are starting their hunt for development funds. I don't think the fact that KOD are taking a different route is incompetence its purely because they will already have the level of detail required for the funding they're planning on getting when submitting the mining license.
https://amcconsultants.com/experience/feasibility-studies-for-mining-projects/
"The final feasibility study has three objectives:
To provide a basis for detailed design and construction.
To demonstrate within a reasonable confidence that the project can be constructed and operated in a technically sound and economically viable manner.
To enable the raising of finance for the project from banks or other sources.
The term Bankable is sometimes used in connection with final feasibility studies. This just means that the study achieves a quality and standard that would be acceptable for submission to bankers. "
https://www.caseyresearch.com/glossary/feasibility-study-bankable-feasibility-study/
"According to NI 43-101, a feasibility study is a “comprehensive study of a mineral deposit in which all geological, engineering, legal, operating, economic, social, environmental and other relevant factors are considered in sufficient detail that it could reasonably serve as the basis for a final decision by a financial institution to finance the development of the deposit for mineral production.”
The news released by MLL today about DFS contractor funnily enough boosts my confidence in Kodal Minerals.
So SXXSWE - what in the f@ does that have to do with KOD?! First of all - I may be WAY out of the ballpark with this one so just feelings I'm sharing. Long story short it comes down to what we ALWAYS come back to - money. It shows the difference between the future financing requirements of the two companies.
MLL have been taking the very standard, trusted approach to their project. Scoping study, PFS, JORC, PFS optimisation, and now DFS.
Kodal Minerals response to that? "F that lol, here's some more drilling"
But wait, surely this means that the guys over at KOD are clueless! Morons! Look they're even letting the SP TANK!
Well guys, although the sp is shit - we do need to remember that we have people in our team that have been on many mining projects. They know the process of Scoping study, PFS, DFS etc yet they're actively electing to go down a different route. They can see the SP dropping (and the potential value of their many many options) So why would they do that?
Large companies that are putting their own capital on the line will do a DFS for potential new projects to ensure the money is spent correctly and they get the best ROI. Smaller companies however may need more detailed figures in order to acquire funding to pursue the project.
Obviously no surprise here is that MLL is in the latter category. And my gut feeling is "damn. They'll have a mining permit but they're STILL going to have to do studies, negotiate, meet, and do who knows what to get that cash together"
KOD? Nah we're good. The company have spoken A LOT about the work being undertaken by Steve and his team on the "Feasibility study". That he has been brought on with this task in mind. This is not being done with the intention that they'll then just crack on with another one immediately on grant of a mining license. This is being done because they know that the level of depth they will be submitting in the license application is in depth enough to get development funding. And the fact that they don't seem overly concerned about SP to me shows that at least when it comes to the BIG fund raise (small working capital may be needed till then) - the SP doesn't matter.
At least this is what I read, and hope to be true (don't let me down BA!). Honestly somehow today wish I could buy more if it weren't for the upcoming holiday spending requirements.