Updated NI 43-101 Technical ReportHere is a quick thought.
The 2017 NI 43-101 technical report was built off the explotation of a glauconite ore body located about 5 km south from where the current Pit 1 and Pit 2 are being developed.
Pages 135 to 158 in the 2017 report provide detailed plans as to how the original ore body was to be developed over a 36 year period. This produced a $2 billion NPV.
It will be interesting to see how the report is updated using the ore body located 5 Km to the north. Might it suggest we have 2 x $2 billion potential mine sites?
Hopefully the new report will accurately reflect all the information actual experience has generated (costs to develop the mine, processing plant capital cost and operating costs, selling and marketing costs and most critically transportation and delivery costs from the Plant to customers at six times the cost per tonne of the product) as well as referencing the actual part of the deposit being developed.
That being said, there is also room to include and reflect other current initiatives and licensing approvals, such as Plant 2 also being approved to process animal feedstocks (interesting change of course for the company?) - something the Company clearly had included in their licence application.
Cheers,
S