Tuesday, June 28, 2022 9:47:02 AM
IMO, MS is desperately seeking a way to save this project from a premature death. Why else add even more complexity and CapEx to the project? Best practices teach us to start small and only add/upscale if things unfold successfully. It’s called MVP: Minimum Viable Product. That’s the way you do it in 2022: agile. There's no excuse for making things unmanageable.
But if MS is convinced that Elk Creek becomes viable only with REEs added, it’s becoming a sad story. Could it be that MS is emotionally too much involved to back down now, that he would rather go down with his ship, like a proud captain?
Niocorp wants to produce REE Oxides (end products for the magnet industry, not some intermediary product). How many millions will this add to the already huge CapEx? Another USD 500 million? That would result in a CapEx of at least USD 1.6B. Now why would you want to do a thing like that? I’m lost here.
It’s not like CapEx investors are banging on the door! A higher CapEx is even a bigger hurdle. Now why would somebody do this voluntarily? Answer: it's called tunnel vision. When does persistence becomes tunnel vision?
But wait, we still have Walterc with his excellent DD (that rhymes). I'm sure he'll find a way out. Most definitely.
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