Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Peanuty, it's a shame you have no idea how the process works. Alien does not need the DFS to complete before agreeing the native title, getting permission to mine, sign a deal with AA. The DFS is purely about providing confidence to lenders for funding. The DFS should be completed by the end of this year, and by that time everything else should be in place for funding and decision to mine in H1 2024.
I think the Fenix Resources timeline of achievements may help as a rough guide to how Alien might progress. H1 2024 is achievable for Alien Metals.
Fenix timeline from 2029-21
Oct 2019 - Feasibility Study completed.
Apr 2020 - Mining proposal lodged.
Aug 2020 - Mining proposal approved by DMIRS.
Aug 2020 - Native title agreed.
Sep 2020 - Decision to mine.
Oct 2020 - Binding offtake agreement.
Oct 2020 - Mining contract signed.
Dec 2020 - Port access secured.
Feb 2021 - Maiden iron ore shipment.
I think the Fenix Resources timeline of achievements may help as a rough guide to how Alien might progress.
Fenix timeline from 2029-21
Oct 2019 - Feasibility Study completed.
Apr 2020 - Mining proposal lodged.
Aug 2020 - Mining proposal approved by DMIRS.
Aug 2020 - Native title agreed.
Sep 2020 - Decision to mine.
Oct 2020 - Binding offtake agreement.
Oct 2020 - Mining contract signed.
Dec 2020 - Port access secured.
Feb 2021 - Maiden iron ore shipment.
*may come back with a question
Cjmorley, yes and DMIRS come back with a question about it, but that's all par for the course.
Dip666.
"2/ why set december 2025 for han**** to be operational as a performance option for troy, seems overly generous to some or an indication that cy 2024 may not be a feasible target for some reason to achieve production?"
Alien has not set Dec 2025 for Hanc0ck to be operational. The reason performance rights are vested until the end of 2025 is to keep the chairman onboard well after the start of production. It's just a margin of safety by having the incentives in the right place.
The latest CAPEX estimate for Hanc0ck is around US$20m. Although the Fenix Iron Ridge CAPEX was A$15m, the Hanc0ck figure likely has a fair amount of contingency built in. Interestingly, Fenix was able to defer 44% of the initial CAPEX until commercial production. Fenix has additional CAPEX costs and operating costs compared to Alien Metals. The Fenix Iron Ridge resource slopes down to 230m below surface, but Alien has a clear advantage because there is sufficient resource at surface for a good chunk of the life of mine, therefore, no fixed plant is necessary for production with a strip ratio of only 1:1 compared to Fenix 2.86:1.
Another advantage Alien has is the distance to port. Fenix has to truck ore 490km to the Geraldton port, compared to Alien who have a much shorter route to Port Hedland.
Alien metals has come a long way and all the pieces are being put in place for production in 2024.
For anyone interested, here are the key milestones that Fenix Resources achieved:
Oct 2019 - Feasibility Study completed.
Apr 2020 - Mining proposal lodged.
Aug 2020 - Mining proposal approved by DMIRS.
Aug 2020 - Native title agreed.
Sep 2020 - Decision to mine.
Oct 2020 - Binding offtake agreement.
Oct 2020 - Mining contract signed.
Dec 2020 - Port access secured.
Feb 2021 - Maiden iron ore shipment.
Uktrafer6.
Yes, because the company knew that most of the small traders holding shares don't have a clue about how share options work 🤣
What raise? They have just got some extra non dilutive funding to cover various administrative fees, etc. Payment for the DFS will be due at a time when proper mine development funding is also arranged. Remember the DFS is important to provide confidence to prospective lenders.
There has been a ridiculous panic by know nothing traders who think they can make a quick profit. The lack of understanding about performance rights and stock options and incentives is astonishing. The reason Dec 2025 is the vesting end date for some performance rights is to keep the new Chairman onboard until then - Alwin Vorster does not own the shares until the vesting period is over, and it has nothing to do with expected shipping dates. Another important point is that 31-07-2027 is just to provide a reasonable period for people to benefit from exercising those options - again not correlated to development timescales.
Livestock, not in the Pilbara, Australia it doesn't. Flaura and Fauna take a couple of weeks and was probably established at the beginning of the survey.
Rad121
Yes, it means you are completely wrong. None of what you have just stated makes any sense. The native title could be signed at any moment, then a mining license issued, then after the DFS is completed funding will be arranged, all in short order. Direct Ore shipping will start H1 next year.
Munni Munni and Elizabeth Hill are NOT core assets. They require a lot of planning and investment, and Rod will be available to push them forward. It's not complicated to understand.
HH, yes but the important fact is that 1.7Mt is now in the indicated category.
Iron ore prices expected to rise into next year even if China doesn't decide to live with COVID, but the CCP must act because lockdown related unrest is accelerating.
https://www.afr.com/companies/mining/iron-ore-miners-emerge-from-price-slump-with-a-spring-in-their-step-20221117-p5bz14
No exploration company ploughs ahead with a second drilling campaign without the lab results from the first. They also need time to analyse the results and feed those into the phase 2 drilling.
Unclejim, the last placing was to accelerate exploration. It had nothing to do with the iron ore offtake.
UFO isn't raising £5 million by equity. Rod has suggested a low yielding bank loan.
Correct norm, and both solar panels and EV's are big consumers of silver.