Egan Street Resources Limited (ASX: EGA) (“EganStreet” or the...

Egan Street Resources Limited (ASX: EGA) (“EganStreet” or the “Company”) is pleased to announce that it has taken another key step towards development of its Rothsay Gold Project in WA with the appointment of leading resources specialist PCF Capital Group Pty Ltd as a financial advisor.

PCF Capital will advise EganStreet on financing the development of Rothsay. As part of this, PCF will run a competitive process to secure one or more financing partners to provide debt facilities for the Project.

The PCF Capital fee structure includes the issue of 1,500,000 options at an exercise price of 30 cents and an expiry date of 3 years from the date of issue. The options vest when EganStreet executes binding financing documentation for development of the Rothsay Gold Project.

The Company also advises that the Rothsay Definitive Feasibility Study is largely complete and the results, including a maiden Ore Reserve estimate, are expected to be released in the coming weeks.

I wonder what still needs to be done on the DFS.