Nailed it Hep.
Ryan needs to now provide the market and facilitators the following
1 JORC
2 P and DFS clearly showing IRR and NPV
3 Metallurgy Report showing type A or type B laterite.
4 Current offtakes termsheet.
Funding will not accure via debt if the above isn't provided. Equity facility will dilute existing shers.
SJ will need to be proven. So Ryan had better start drilling soon because a 3m saprolite zone @ 1.5% average seam returned from their first 2 programs (my calcs) didn't exciting anyone putting a huge hole in Axioms leveraging tool. "World Class Resource". Nickel spot plumeting isnt helping atm either but IMO am expecting commodities to pick up as Trump and Xi make up and kiss. This trade war can't go on forever.
Unfortunately all of the above has not been provided because the drilling programs failed to attract. Hopefully Ryan has a good Geo on site now to target some better definition in the next program.
Cheers and GL all.
AVQ Price at posting:
13.0¢ Sentiment: None Disclosure: Held