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Tuesday, April 14, 2020 9:46:27 AM
[[ ICO = Idaho Cobalt Operations ]]
HIGHLIGHTS
- Workstreams of ICO Bankable Feasibility Study (“BFSâ€) in final stages; public release delayed due to Covid-19 outbreak
- Jervois received indicative financing proposals for ICO from selected lenders invited to tender; BFS economic outcomes will be provided to potential lender(s) shortly, with revised term sheets to finalise appointment
- RPM appointed as Independent Engineer to act on behalf of lender(s) for ICO debt financing, diligence well underway – site visit delayed due to Covid-19
- Jervois has also paused ICO remobilization, pre-construction and field exploration plans in light of Covid-19
- Jess Birtcher appointed Finance Manager for ICO
- Final results from 2019-20 drilling in Uganda continue to expand prospective areas – Ugandan exploration paused due to Covid-19
- Post Covid-19, Jervois restructures operational footprint, Director and Management fees
- Jervois’ strong cash position will allow it to finalise ICO BFS and maintain operational footprint for in excess of 12 months
- A$7.9 million cash as at 31 March 2020
Read more at:
https://jervoismining.com.au/wp-content/uploads/2017/11/02224372.pdf
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