RE: waiting our turn23 Apr 2023 21:04
DFS is effectively mine go-ahead.
ML is the Government allowing the mine to go ahead. I could be wrong, but why would the Government grant mine go-ahead without the DFS in their hands to advise that it's viable, passes all of the prerequisites of the Government for environmental, noise, traffic, profitability, etc? DFS has to come before ML, as you can't be given ML without a robust DFS, or you could just drop the DFS in the bin and start happily mining away.
MIIF, I doubt they can invest in a mine that does not have a DFS and ML in place, as the risk of it failing and said MIIF fund losing it's investment is too high. MIIF need 100% legal confirmation of mine go-ahead in my opinion.
So for me it's DFS mid to end of June, ML+MIIF investment combined and announced in July at the earliest, but dependent on how much due diligence Government and MIIF do on the DFS and how long that takes.