RE:Wow! massive buying rally at the end of the day today ......Also massive in London, with over 4m shares changing hands in the final uncrossing trade of the day. Unusually, more shares traded in London today (5.2m total) than in Canada. Overall that's nearly 4% of the company traded today.
Almost certainly due to funds & ETFs positioning as EDV joins the FTSE100 on Monday.
Looking forward to the Sab-Mas Phase 2 DFS due within the next couple of weeks. In the Q4 call, the company talked about some process flow modifications that should significantly increase capacity relative to the 2020 PFS. In particular the PFS envisaged using the existing crusher to alternately crush "whole" ore and refractory ore, in 12 hour sessions, whereas the DFS will propose an additional crusher which leads to more efficient operation of the BIOX plant and greater total throughput, with continuous processing of both whole and refractory ore.
In the call, EDV also indicated that the investment decision for Fetekro was likely to be delayed, whilst the impact of inflation on the CAPEX was reassessed. So, it looks like Sab-Mas Phase 2 will come on-stream before Fetekro.
Cheers,
Mark