Horizon Minerals Limited, page-5

Yes, goal posts have been moved for toll treatment operations ..had EGS been run by competent mgmt then Goongarie ore would have been getting treated there at present or least early this year .... but as we know that's gone tits up... and as does cashflows

Teal-stage 3 needs like 20mill+ Capex to be brought into production and then who happy to toll treat?

Personal I think the major gold plant owners at present high AUD gold levels have increased per ton toll rates or not even interested ... as 1# they are making fat margins using full capacity of the plant
#2-whats the best future outcome for the likes of NGF/Zijin EVN,NST etc having local explorers making good toll incomes taking some of their capacity or watch these same explorers instead forced to tap their S/H's to survive in hope of discovering the motherlode of GOLD which if the 1-10 do the producers will just T/O anyway.

Lakewood plant merger much sense or least sign up for a long toll treatment deal that works for both parties ... but I'm sure Lakewood has Gold resource holders ringing weekly trying to get some fat cashflow

IMHO JP knows this and is looking down a different path and merging with a fellow KAL explorer hoping the new company can tap the market/insto's to become a producer or be taken out for a high value.