Originally posted by Propunter2
These time frames are unambitious.
They seem content to spend another year burning through $$100K per week which will leave the cash balance back to selling off the family farm for less than what 1/177th of the projected crop value from one year's farming. That's only the Vanadium when there is also Iron ore & Titanium.
This is way too long. Why they weren't ready to go with an FID immediately upon the signing of the TO leading the ML is beyond me.
They just seem to be moseying along in care & maintenance mode rather than switching over to rapid expansion mode.
Hence my Xmas research.
Perhaps they are aligning it to the refinery approvals.. I don't think the team is that highly motivated as RT is under the impression that he will get bought out before they go into production.. it appears to me that they are just skimming the balance sheet until it's almost depleted to line their pockets, raise more capital and do it again until they are forced out.. get another team to come in to fast track the process then sell out when we eventually get taken over..