Breaking Free From The Constraint Of Linear ThinkingUp until now, I have been evaluating events within the "normal" flow of progression:
1.) PEA;
2.) PFS;
3.) Permit Applications;
4.) Final FS;
5.) Mine Construction
A first pass PEA was done in 2013 and FPX has stated its intention to undertake a revised PEA at some future date. My belief is that no established mining company would bother with this step, jumping instead right into a PFS. Kaiser has provided a cost estimate of $10M for this PFS.
One of the benefits of a PEA to shareholders is that it is a way to communicate details to the investing public within the contraints of the regulatory framework. But is it the only way to accomplish that?
What if FPX decided to apply for a mining permit right now? These sorts of applications are transparent to the public and contain immense amounts of information. The only thing that FPX would need to get absolutely right for this permit application is just about everything. And they can do all that work in house.
The other thing to keep in mind is that Turenne just loves to surprise the market. But probably not until next month.