Known Unknowns

Let's move on from Jazz'

"... they had a PL and needed nothing more from the SIG to complete a JORC and feasibility."

to the here and now:

AVL has a ML for SJ and need nothing more from the SIG, however AVL needs to complete a feasibility study to get an off-take agreement and further finance.

Mine development without an off-take agreement is a step into the unknown.

An off-take agreement without a feasibility study is a step into the unknown.

Where is the feasibility study?

Where is the off-take agreement?

These are known unknowns.