They will definitely apply for a NAIF loan. Considering the CAPEX for the project isnt large it could feasibly make up a good chunk of financing. As for likelihood of success as we know NQ and townsville economy has been decimated which will be a factor. Though ultimately it comes down to robust project economics which given the high grade and saleable co-products Im quite confident about.
Regarding the tailings it is my hope that they process the yabulu tailings. Downie ran some analysis on the tailings as project director at Queensland Nickel. You may not be aware that DNi has run the Yabulu tailings through the pilot plant at the CSIRO. There were no technical problems. There have been articles highlighting the billions in cobalt in the tailings dam. It would be beneficial for local, state and federal government if the tailing dam was treated as it is lying in very close proximity to the great barrier reef. Queensland Nickel was fined previously for overflow. There is still a sizeable environmental liability associated with it. If you may recall New Century Zinc was assisted handsomely to clear up the Century Zinc tailings.
I would hope the State Government takes the lead on this. I expect that Queensland Nickels administration will playout and hopefully the timeline will coincide. Hopefully we get some hints of this along the way.
Regarding timelines, I have construction starting in 2nd half 2020 as I have the metwork still finishing in Q3. There are no long pilot plant construction delays or tweaks to worry about as its up and running. Planning on the Sulphates from MHP has started already as can be seen by the recent announcement.
