The last few days have been great for news of the progress made by L3 with its processes and streamlining and also corporate developments, a.k.a. Russell 3000 inclusion. The negative of missed filing will be resolved very soon is my guess.
The various items of the L3 activity is now being released in pretty rapid fire fashion over this week and no doubt continue into next week. This also shows how complex this undertaking by L3 was - of course, it could have been a little faster.
I have already started planning the update to the list of items and pricing to be updated from my previous list. Looks like the final results from the L3 project will be completed soon and the updated FS work will continue (as I am sure it has already started and is running in parallel) with an updated FS which will be very positive. Of course, as we have all seen in the past the SP does not reflect the progress made (thanks in no small part to the bashers who repeat themselves to "ad infinitum" and trivialize all activity - most normal people understand that in mining, the process is that you need to get funding for the mine, develop a mine and then operate the mine and sell the product to get revenues. So if there is no mine there is no production and no revenue - so to keep on harping that there is no production and no revenue as this stage of our project is doing a disservice to ones thinking capabilities!
Soon, all the elements required for the FS will be done and then in my opinion 3 major things remain:
1) Updated FS (includes, L3 process finalization, equipment design and costs and product sell prices),
2) Financing, both equity and debt and
3) Off-takes.
Items 2) & 3) could come before item 1) or straddle 1) depending on how the interested parties analyze the results from L3 project and their needs.
MY TAKE, ONCE THESE ARE IN, I WONDER WHAT THE NAYSAYERS WILL HAVE TO GRIPE ABOUT! I am sure they will find some minor issues to raise, but then as I assume that they don't own any shares, they will have to jump in and maybe get with the program and enjoy the ride upwards, unless they miss the boat (in that event, no tears shed on my part!)
Bullish
