RE: 500k buy at close16 Nov 2018 15:22
No one knows. It depends on how much work done up front in the PFS. I don't think this project will change much after PFS it's pretty basic, shovel off 451Mt of surface material and process easily. Between studies often a project changes a lot, new layouts, new discoveries etc that then need a reconfiguration of the plant location and size. This I feel will stay much the same, perhaps they might up the feed if they find more easy material and market spikes in prices making it better to mine as quickly as possible.
Don't forget PFS has been purposely strung out to allow forward spend and value to accrue in near market/market if the moment lithium and Portugal. It makes more sense to push company time and resources into this at the moment. So can't really judge the DFS off current PFS timeline.
Drilling costs are minimal in comparison to other resources, shallow near surface through soft material. They will take indicated and inferred into measured for DFS.