Burundi is no longer a priority- Long live Phalaborwa17 Jan 2023 11:44
George said that the Burundi government appear keen to resolve "their" issues with the Burundi pilot mine. He also said that Phalaborwa is the priority now. Ergo Burundi have blown it, there's plenty of money to be made without it.
Resource update expected Q1, 2023
Pilot plant Q2, 2023 - duration 4-6 months. Note a fund raise IS required to fund it.
Bankable FS expected, latest Q1, 2024
Phalaborwa plant in expected to be in full production 2026. Energy production problems in SA not thought, by GB, to be significant, due much lower power of stack processing as opposed to hard rock extraction - 21% required.
Risks - hopefully mitigated by the team GB has brought together. Plus, outstanding permits - brownfield site, so a case of renewing them, but one new greenfield permit required for stack processing. Technically, Rainbow are cleaning the site by neutralising stack water, ergo environmental risk should go down, giving Rainbow environmental credits.
A long-term buy/hold IMO with 10 bagger potential, excluding Burundi.
GLA