On the one hand I'm cautious as to how much it's really worth- promises from government bureacracy that they're going to be nice to you are great but as always it's what they do not what they say that counts.
On the other hand the word that jumped at me was "financing". If they can get a good bank financing deal for the project at a good rate and in good time then it is, as they say, on.
My comparison here is perennial hot copper favourite AVB, now mining happily up in the north of Brazil but the path to them getting there was slow and painful- they had a bank financing deal that never came through.
So if this ann is any evidence that their path to financing might be less painful and- importantly- more rapid- then that's a good thing.
I really hope (and expect) that with the BFS they put forward the numbers that really count: the cost of production and anticipated throughput ("better than Africa" doesn't quite cut it for me). There are some broker guesses out there but solid info would be good.
AGR Price at posting:
9.5¢ Sentiment: None Disclosure: Held
