RE:Fiji Operations Review -Positive news, though after 5 months without a news release, about any news would be good news.
Red Lion's credit line is a good thing to have and it helps confirm Berukoff's belief in the company's future. (I think his buying $15,000 of shares a while back was a purposeful sign from him too). I guess 9% interest is OK. Heck, if Wally can find the $48 mill, I'd vote to pay him more than that for a few years.
The diesel fuel wharf and depot may come in handy, I guess---hopefully W. will cut us a deal. Diesel prices in Fiji are now averaging $3.00 U.S. per gallon.--not bad for an island nation.
Site preparation adds more seriousness to the project. (Clear it and they will come---------and build).
It sure would be nice if they would dig up some of the most accessable high grade ore, and make a big pile of it, awaiting the arrival of the processing plant.
I spoke with IR today and suggested they post that Mann video or the transcript on their website, but they didn't seem to see the value. To me, that presentation is 'the crux of the biscuit'. To have a guy of Mann's achievement, stature, and reputation, Lion's managing director, saying that the PEA basically represented a 'starter mine' or 'subset' and saying, (granted, likely with a wink) that Tuvatu is Vatakoula's big brother, is no mean thing.
Lion's AISC costs are already very low compared to other mines, making it quite profitable at today's gold prices. According to the Seeking Alpha site average AISC costs for miners in 2015 has dropped to $920, partly because companies are high grading their projects and decreasing exploration-which isn't sustainable.
Lion's all-in costs are estimated to be $779 US/oz, which includes a good amount of possible contingency costs, that may not be needed so the cost per oz may well be lower. (page 21-10 of the PEA) All-in sustaining costs (or AISC) focus on costs incurred in the complete mining lifecycle from exploration to closure. So a longer, (perhaps a much longer) mine life span for Lion, as Mann suggests, will reduce AISC costs even more. These low costs will serve LIO well and make the company good money until, imho, gold prices go back up to their correct range, and it becomes most excellent money..
PEA link: https://www.liononemetals.com/assets/pdf/Tuvatu_Gold_Project_-_Preliminary_Economic_Assessment_-.pdf