independent valuation of luapula plant, page-195

@The Avenger ...........You put a hole lot of wishful thinking as fact in your posts, when in reality it is just dreaming.. For example you have included "Funding from European partner" as a given when it is just a ramp. There is no evidence nor announcement about any European partner. Are you that desperate to unload your shares that you have to ramp constantly and never include that it is your wish or hope??

The following was also on p93 of the IE report.......
"To minimise the possibility of an unwanted cost blowout a more detailed budget based on the WBS should be developed."

Another question I'd be asking the BOD/management instead of saying all great on a forum, is why has this NOT been done in the last 9 months of suspension??

The people running this company knew, or should have known that working out a detailed budget to get the plant back up and running was a critical part of the overall project, instead of a vague cost as was given last year.
Shareholders do need to know exactly how much needs to be raised (including contingency).

Go back through the numbers from different announcements and it is very easy to see what the 'rough' numbers are for WFE.

Plant cost for 50% JV $US5.5M = $A7.75M
Exploration leases $US1.2M =$A1.7M

That is a total of $A9.5M, so is most of the proposed prospectus raise of $A10M spent, before ANY refurbishment.

The Independent Expert Mr Connelly clearly states that he is talking about the spend on the asset with the $US10M.

The $US10M = $A14M by itself. Plus the IE includes a statement in the risk analysis about this number being high risk (IMO potential to rise). Hence why he states on p93......

"To minimise the possibility of an unwanted cost blowout a more detailed budget based on the WBS should be developed", something that should have already been done!!