Execution Readiness Update

[John]

https://wcsecure.weblink.com.au/pdf/ARU/03066255.pdf

So a few things from this:
- Why do we give the land owner shares? Why don't we pay cash? This is very dilutive at such a low SP. Surely this was in the budget? And we have alot of cash on hand.
- This accomodation....why now?
- What happened to HATCH doing the HRE analysis? The guys at Clean TeQ Water seem to specailise in ion exchange....but don't HATCH also do this? Am i missing something here? Or is this just to get access to more funds from Future Made in Australia?

 

[patarnoster]

I've been mulling over this today.

• The landholder is now financially aligned with the mine succeeding, so now they become a shareholder, which reduces land-access risk, removing permitting / land use hurdles before construction.
• Accomodation I think is simple, they wouldn't need to tender for a new one, buy whats already there, and you get instant access to it for construction, and I wouldn't be surprised if people start getting it ready next few weeks for the first wave of workers.

Regarding Hatch, they are the EPCM contractor responsible for engineering, procurement, construction management and building the plant, meaning their role is to execute the approved processing flowsheet rather than develop new metallurgical chemistry.

HREE separation is highly specialised and technically complex, involving ion exchange resins, solvent extraction and long separation chains, so Clean TeQ which specialises in ion exchange metal separation technology that can potentially be cheaper, more selective and use fewer chemicals than traditional methods. If the technology proves beneficial, Clean TeQ provides the separation process expertise while Hatch would design and construct the plant around that process.

These two announcements are pretty good I think, while not PS, they are indicative we are close.

 

[Fundamental]

I was always under the impression that a Pastoral Lease had no residual rights over a Mining Licence / Lease? or is this just a way to circumvent a possible future Native Title claim?