Commodity TV Interview at PDAC - interesting tidbits by DevMy Germanic idol Joken was interviewing Dev for 1st time in many months at PDac.
Here are some interesting tidbits from interview that I got from them:
When asked about costs that are shown in EA/PFS, etc - Dev brought up the possibility of "sharing a mill with NexGen" by himself. He said "it makes sense". So the concept of co-operation is at least there - 1st time I had heard that mentioned and it caught my ear - usually doesn't talk NXE but he did a few times and without the usual rivalry - maybe wisdom will get these guys to make their economics both look better by showing inevitable co-operation in one form or another (agree with Greenday that an FCU/DML/NXE merge could create a powerhouse Canadian company that could compete with the Khazaks - why we in Canada let them dictate Uranium blows me away - when we have Athabasca basin)
Dev seemed to be less focussed on selling FCU and talked more about it being ready for production as fast as 2025, maybe 2026. - I get sense of horse race to be mining ready!
He re-iterated, like Ross has said, that the Pre-Feasability study is an independent one and they don't control timing of the release, though he expects it still in next few weeks.
There will be another Resource Update as part of PFS (which we knew from infill drillling trying to get inferred into indicated - indicated being only pounds allowed to be used in calculations).
Feels with about $20 Million enough cash to get through calendar year. "Talking to Bankers and Industry Partners" - seemingly to raise money - if that is appropriate. 232 uncertainty keeping a lid on spot in his opinion - if Spot was to hit $40 and FCU share price around 70 cents - then would likely raise money (probably from share offer - unlike the mention of bankers or industry partners at current share price). - this is in line with what I want - no use raising money at rock bottom share price and Dev alludes to that.
He did indicate Ross would love $30 Million to explore and expand deposits but that FCU was super careful last couple years with how much money they were spending because traditionally 50 million pounds was enough for a mine and even a mill. FCU has 140 Million plus and he mentions NXE has 200 million + . He mentions drilling for more pounds did nothing to raise the share price past a certain amount (the 100 milllion) and that great news reports often resulted in a share price drop - which many of us on board sure noticed - so that is whey they stopped expanding the project drilling the last while.
He described FCU as cheapest shallow open pitt deposit in world - and felt cost per pound would come down from $14 (this is where he mentioned shared mill or possible using someone elses mill on offchance someone else built - so I suspect they will try include lower CAPEX and/or shared mill into economics of the PFS already - or maybe at least eventually in the Feasability Study that they are already working towards.
That was the major points I remember.
Then i notices on Quakes Twitter feed that Ross was in Chicago today or yesterday talking to Lloyds. Maybe he wants a nice big line of credit or loan or debenture or something so he can start drilling as much as he likes. Interesting - why would he be presenting to Lloyds in Chicago? Anyone?