re upcoming monthsFrom what I understand the DFS has not yet been awarded to an engineering firm. The DFS will take a year at least to complete once awarded. The PFS was 6 months plus late in completion, so I think FL would be lucky to get the DFS done on time, as it is a much more complicated report with actual ramifications for the Mitsubishi price tag. I am sure they will be interested in the fine details , and that may add more time to a long process. I am guessing that the final royalty agreements with the local First Nations will need to be completed, as well as the construction permits and environmental studies before the DFS is submitted, there are a lot of Canadian mining roadblocks still to be hurdled.
Don't get me wrong, the Mits deal was fantastic, I think. We have not seen the details, the second tranche is all that matters, the first one was a $25 million dollar option that ties up the property for more than a year.
Actual funding of the bridge when the federal budget passes will help, the Ontario road commitment being finalized will help, but the real issue here is the second tranche, and that could take until the end of 2025.
There also needs to be some life in the lithium price, pretty much all the players in the space are at deep discounts, and until there is a change in sentiment the whole group is in purgatory.
I view my FL holding as a long term call option on lithium, two competent partners, a great deposit, mineable, but until the lith price rises a little more and the demand side is clearer, it will be slow appreciation at best. That is not managements' fault, it is the business we have chosen to invest in.
best of luck