We were led to believe this resource is very high grade, continuous, and in all respects amazing, clearly that's wrong. I've learned the spruikers are dangerous; firstly when investors are misled by the hype, and secondly when the company believes its own hype, because they go on to build a mine that doesn't perform... GCY, BLK and so on.
Production in 2019? Considering what's involved in getting a stand-alone mine into production (construction finance and then building the plant) the only way Tampia will be mined in 2019 is by trucking the ore to EM, and more realistically even with RMS it's 2020 considering the feasibility study isn't finished yet and then there are approvals to go through.
If I held EXU shares personally I would've accepted the RMS offer from the start, it's the quicker, cheaper and less-risky route to develop Tampia and currently the offer is nicely in the money.
Gold price is looking strong into 2019, good luck to all!
