Reality check.18 Aug 2021 18:59
I am already starting to feel very sympathetic to Lawrence Read. I am absolutely confident he is doing his level best to progress this project. why ?, well i only have to look at this years RNS
PFS Update: Commencement of Drilling Campaign
Continues drilling at Toral ahead of final assay results
Reports positive initial drilling results from Toral
Wardell Armstrong Appointed as PFS Manager
Milestone 1 of CDTI Innovation Grant Completed
Completes required work to gain first tranche of grant
to list but a few.
We also know that steps to secure local support are well advanced. No one should have expected much before the PFS, thats what makes or breaks this company. Without a PFS you are pretty much guaranteed to be billy no mates in the big boys playground but wave a favourable PFS or BFS at them and they might give you the time of day.
I think funding will not be an issue till after the PFS and that will put a completely different perspective on that issue I'm sure..
People talk, myself included about delivering value ? well how do you do that before you have all the data. Drilling Water/waste ,tonnage , costings etc that you would expect in a PFS ? Getting in too early is not a crime or a mistake and it doesnt mean you have lost your money or that your reward at the end will be any smaller than you expected. Getting in too early simply means you will wait a bit longer.
Finally before i disappear back under my rock for a few more weeks ,have a read of this in case you need reminding what's going on.
Hydrogeological studies to ascertain sub surface water conditions;
Drilling targeting increases in the confidence level of the overall mineable resource for Toral; and
Further metallurgical, geotechnical, waste management and environmental work components.
The Board of Europa Metals believes that completion of the above PFS components will further demonstrate the viability of the Toral Project by advancing the Company's understanding of metallurgy and hydrogeological conditions, defining the parameters for waste management and environmental considerations, as well as potentially upgrading areas of the current resource into higher categorisations.
As previously announced, the Company has commissioned ongoing metallurgical work and ore sorting analysis in respect of Toral (being carried out by Wardell Armstrong International and Bara Consulting respectively) and will thereafter seek to obtain updated preliminary economic parameters for the Toral Project from Bara Consulting, taking into account the significant work completed and data obtained since the 2018 Scoping Study. The Company is also awaiting the renewal of its Investigation Permit for a further three-year exploration term and is in the process of seeking to secure certain EU/regional grant monies.
I dont see anyone kicking the can down the road, dragging this out to collect a wage, i see work progressing at a pace in difficult times in a country that basically sh