RE:RE:RE:NEWS June23rd- PROVISION of EFFICIENT ENERGY for Project ++ Shore, hard to know what either management group were thinking when they did what they did, but one can speculate and I will offer my speculation on the current management plans -
If new management truly believe historical geologist reports that there are millions of ounces in the ground within Koboda, going with a premium plant makes far more sense. According to reports, this new plant concept will extract at least 10% more gold from the ore. When you are talking about 750K reserve, this doesn't sound like alot. But given the plan seems to be to spend upwards of 2MM per year on more drilling once production starts to ultimately extend the reserve, one can assume that over 5-10 years, this minable reserve can grow significantly north of 1MM ounces and the new plant concept will be significantly more profitable.
Further speculation, when viewing the most recent Danny Callow video I noted a smile on his face once asked about the current financing status. It was quite a body language leak that leads me to believe there are some very promising discussions underway and I believe we could see something on that front soon.
One can further speculate that financing discussions have been going on for quite some time and it’s plausible that a JV partner insisted on the new plant design as part of an upcoming agreement. Another key element in this speculation is the recent change in management with Callow effectively replacing Bharti as the face of the company. This was obviously (in hindsight) in the works for a while as Callow has been doing all the marketing presentations over the last few months. I suspect that discussions with a JV may have preferred a company run by Callow over Bharti. JMO. Good Luck to all.