EVERYTHING COMING TOGETHER?There are four major actions required before further FT/NICO development is underway:
- Contract for Whati highway (TASR)
- Contract for NICO spur road
- Feasability study completed
- Financing arranged
I think that all could happen quickly. The TASR proposals have been received and one could be chosen soon. Since the NWT premier apparently has not had to appoint a judge to resolve
the FT/Tlicho spur road dispute, and IR gave me vague assurance a few weeks ago, I assume that it has been, or will be resolved soon.
I think the feasability study and financing have to be resolved together. Different mill/refinery combinations costs have to be matched against different offtake offers and strategic partners interests and offers. Short and long term market considerations may require different mill/refinery configurations over the mine life.
Decisions on mining equipment and initial mill ore processing equipment have probably been made. Gold, cobalt and bismuth milling requirements and equipment have probably been defined. Arsenic removal decisions will take some time. Refining decisions will depend on prices offered for concentrates and market forecasts.
If the feasibility study indicates that prices offered for concentrates will cover all equipment and constuction costs with reasonable returns for FT and a strategic partner we might see quick decisions once the road contacts are finalized. GLTA Bob