RE:RE:RE:RE:RE:RE:zero confidence
ne, a PFS like the PEA would be good enough ...but they need permits for the decline and 2018 production as planned ... i see no reason why they should miss these goals ... the money they spend in 2018 for the UZ (50-60 million$) already is included in the Capex... means they are able building Timok UZ mostly from cashflow.,.. they never told us other things... substaining costs for Bisha looks in line too.. necressary equipment is bought and this operation will do better from now ...
i think market is wrong here.... normally a feasibility -stage company is valued 60-70% of the NPV ... NPV of Timok upper zone is 1.5bln USD .... investors get the cash,Bisha and the Lower Zone of Timok (very long term) ,exploration upside + gold from Timok tailings for free ...
..a big chance for a investor with a long-term view....