Almonty Industries Inc T.AII

Possible Reason For EPC Change ?

[5ilverlining808]

From this website of the new EPC contractor SMH, the Posco group seems to be a third party operation, I think I can see the reason why the change was made.
Cut out the middle man to reduce costs.
SMH customers include Posco.

https://smh.co.kr/en/?page_id=191

$12.8 mil drawdown should have a good chunk spent on the EPC part of the project up front.
Another chunk should be spent on the Metso/Outotek equipment.
A bit more for the underground mining development company to keep going.
The rest (to me) is unknown.

I'm sure more has to be spent in other areas, but, what could they be ???

[QuarterDollar]

What do you mean 5ilver?  You don't know what the other $62M is for? As for underground mining development, I would think that would continue until completion. After all the SK govt is paying for 37% of the development. I think going forward, at least for the next year, we will be relying on your interpretation on NRs and the goings on at Sangdong.

[5ilverlining808]

lol I was talking about the rest of the $12.8 mil. EPC,Metso and under ground development are the only three key areas I can think of at the moment to spend on, and I dont think all of that is ment for those areas. So there are some other areas that need money too.

[QuarterDollar]

Lets hope you are right 5ilver and perhaps the remainder of the $12.8M will be used for perhaps the downstream plant or Moly development.

[Mrsprott]

Should just give it to Lewis, he deserves to suck this test dry

[5ilverlining808]

Im just thinking out loud. Another possible spend could be to pay out POSCO for their sevices. Im not sure, but I think they have done most of the engineering and detail drawings for the process plant buildings and structures. If not, then it was SMH. Either way, the original EPC data and drawings must be bought and put into the hands of the SMH team. Another thought is that Almonty might go to