Well, all things are subject to change. This company not so long...

Well, all things are subject to change. This company not so long ago was sitting on an Iron ore project and wearing boots of Spanish leather.

I don't see anything particularly disagreeable in this independent valuation. From what I understand, the facility requires more work than originally implied, in order for it to be in nominal condition. The report itself says that the numbers stipulated are based on various methodologies used to provide an estimation of value, all of which are dependent on myriad factors that can and do change.
However, I think it's a fair valuation given the information provided and I don't see the point in arguing over numbers that are bound to reorganize themselves in unforeseeable ways. It's also implied that the timeline has been extended, if we are to assume that the company will commit fully to the recommended repair and refurbishment work, also acquiring new equipment. I would be interested to see a partitioned breakdown of the $10m cost for getting the plant up and running, to know exactly how much of that budget will be put toward repairs.

We know more than we did last week and if there wasn't so much back and forth between up/down rampers, setting bizarre expectations for this company, one would most probably view this announcement with an open mind set, and see it as a sign of progress and transparency.

I must commend certain posters on this forum. If I had the conviction and energy you have for attempting to sway individuals, I'd probably be imperial ruler of planet earth by now, having successfully colonized mars, cured cancer and changed the design of pringle cans. But alas, I am only human.

Regards,
Vic