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Thursday, November 28, 2019 9:48:34 AM
Walleyemaster asked why the project was taking so long. I was attempting to answer him. There was a time when this WAS a Niobium mine. AT THAT TIME it was more or less break even. This was my terminology so I get to explain what I meant. You can interpret however you want, but what I meant was the revenue from sales was APPROXIMATELY enough to pay OPEX. There was little to none left over to service debt or pay dividends. Since that time Sc has been added to the product list. That required more time. It required a lot more lab work and a new FS. That FS indicates that the additional revenue from Sc allows them to repay all debt in a bit under 3 years. Does anyone KNOW they can sell 110 tonnes a year of Sc at $3700/kg? Of course not, no one KNOWS that for certain. However, these predictions did come from well respected OUTSIDE consultants. Suppose the Sc revenue is half what is predicted. They still pay off all debt in under 6 years. Is there any indication that the Sc market will grow? The first and only Sc offtake signed was for ALL of the traditional annual world Sc production. The people that signed that think it will grow.
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