Thanks for your comments Silver Teenager, Solid Bricks....

Thanks for your comments Silver Teenager, Solid Bricks.

Regarding cash flow from Cannon, we're assuming NST will proceed and turn the resource into a reserve. From what we saw at the end of mining the pit, ground conditions aren't good so that potentially means higher dilution coupled with ore losses and ultimately more tonnes at less grade going to the mill when mining underground.
If we're not batch treating and our ore is blended with NST ore then we take the recovery they tell us so we can't assume the peak recoveries we saw from the pit ore (Toll treating outcomes almost always creates "discussion points"). Then there is the timing of when our ore is processed - we cant mine it all at once and it certainly wont be processed all at once, so although we'll have a cash flow it could be a steady (hopefully) trickle rather than large lumps over a short period of time. In the meantime our WA crew, directors and all are chewing up cash.
Expecting the SK government to contribute is a big ask IMO as assisting a foreign owned company ahead of those in-country wouldn't get much support from the voting public.
Funding from Bluebird is always a possibility I guess but a merger of all our collective interests could be a better outcome, but then as you say a Hishikari type discovery would change everything.
I still have faith but it's being sorely tested by the lack of news...
As always DYOR!