RE: LOW VISIBILITY22 Aug 2023 13:50
B1ll this is from the Agm
In April 21, we submitted a detailed exploration project for the Montechundra Flanks.
That's now what we call MKT. That's what once was called, the MT Flanks license.
And so, as I said already, MKT's work is ongoing on compiling all our new information.
There was a question here regarding the official, regarding a JORC paper on them,
which released some time ago of 2.2 million ounces of palladium equivalent.
And the question is, why have we not released it?
Basically, we're subject to the Russian system where the DFS has those officially approved reserves and resources,
and that will be updated as soon as the DFS is published.
There is a question about Artem, which I hope he doesn't mind the answering,
regarding his role in the company and the asset sale,
but it's linked to also a good question about the DFS,
why was it required before any sale took place?
And the answer to that is, two part, first of all,
Artem is a valued member of our board and has been a really great help during the sale process.
He also has a background in resources and was a specialist in corporate governance issues at Shell previously.
We did expect to achieve a sale prior to completion of the DFS originally,
but the DFS had to be carried out anyway for the completion of that project
and also our obligations under the mining license.