Monday, April 27, 2020 7:25:47 PM
Construction won’t happen. A review of the FS confirms that. The company never commenced the recommended 2019 drilling program that was needed to, among other things:
1. Confirm shaft location. Page 517.
2. Confirm the hydro geology supports ground freezing. Page 523.
3. Test and confirm the suggested grouting technique. Page 61 and 524.
4. Further identify the characterization of the radioactive materials that will be unearthed in order to apply for the appropriate radioactive material permits. Appendix D.
5. Further evidence to support the mineral resource estimate. Page 38 and 255.
Not to mention the additional scandium market analysis that SRK recommended on scandium and the lack of detailed engineering that has been completed per the project schedule in FS3. If you read nothing else in the FS at least check out the project schedule. The dates are irrelevant - all juniors make an immediate assumption for dates. It’s the timelines that matter and in this case specifically the amount of detailed engineering that is required for the project to advance but at this point has not even commenced.
There’s also the great point that Mr. Haberman brings up as far as surety bonds and reclamation.
Your air permit is a nothing burger, and was only vaguely mentioned in the SRK study. It was a checkbox created with the sole purpose of marking off to further market the project. In no way is it a sign that construction is imminent. It’s rather pathetic that they would abuse state resources in this manner.
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