Adding my thoughts on Met.aspectsand collated some recent relevant posts (My thoughts are in red)
From reading through the many past CLA Ann. A massive amount of work has been carried out on the metallurgy of thethis large complex project
Attodds points this out well in post(4mar 21,40 ) also answering my question- re length of time needed for Met work
Then as CLA points out in Ann.
Apositive economic outcome from the Scoping Study is highly dependent on both a robust cobalt price and successful results from the metallurgicaltest work.
Attodds4mar 21.40 See the full post
floation - autoclave- roasting - these look like pretty good numbers to me.
we also haveanticline - west zone and DOF North -
i can only assumethe newer near surface finds where mainly done with roasting method as to getthem in the update on time - hence the need to test the rest as it could havediluted the numbers a bit ( maybe )
I think this delay was calculated move on cobaltprice not so much on met and with the other zones we have open pit- declines and underground with a IMO close to 200mt -
the timing of the finds and constantly having to addand prove up and do met work to the SS pushes out the timeline ( not a badproplem to have )
i think we done enough drilling for now - so hence theannouncement - SS done - update resource done - maybe a bit more work toget all those zones in - contiue with PFS -play with met see if we can do a bit better and do this over a time periodwhere we are not chewing up cash as we watch the cobalt price - bounceback
anyway I was goingback through some announcements and this is IMO
From the recent CLA Ann.
Theinitial results from the current metallurgical program have demonstrated thatfurther test work is required to optimise theprocess for recovery of the value metals (including cobalt) from themineralisation.
theCompany remains confident that the project continues to represent a keyopportunity when the cobalt price improvesand/or with successful optimisation ofmetallurgical recovery of the value metals from the mineralisation.
One or both of these outcomes couldsignificantly change the Board’s view about the Opuwo Project and, should theyoccur, the Board will reassess the status of the Opuwo Project and acceleratework programs in response.
And as posted by RDL mar03
The answer wasalready provided Friday arvo.
either metallurgy, cobalt price or both improve and we're back on.
more metallurgycosts dollars, cobalt price heads up and it's afree ride... and then you have convictionto hit the metallurgy again andmuch more leverage
In summing up of these2 factors relevant factors to the economicviability of the project
The Cobalt price has far the biggestleverage and the one that is highly likely to improve substantially but willtake some time
So most all the work has been completed in proving up the project
Thus the Board decision to slow downwork and wait for the Cobalt price toimprove as the EV/Battery Supply/Demand redresses
So not much has really changed exceptCLA wont be spending so much money
And you can now buy shares for muchless 1.9c MC $15m aud
IMO
