As a follow up to my previous post...
PCY.to, another V hopeful, has been sold off since mid-Nov. It released its PEA (PFS) in June. PCY do not have a BOA/Finance. Why are they without BOA after 6 months? My guess is they have 20% nigher OpEx than Largo due to much lower grades. This means their break-even point is near to the historical V price
PCY are on record as saying they wish to follow this stream model:
https://markets.*.com/news/stocks/c...stream-on-vale-s-voisey-s-bay-mine-1027328709
Basically Cobalt27 paid Vale $300m upfront for 1/3 production at a discount to market price for x years. Vale did another stream deal which takes total prepayments to about USD700 for 75% of their output.
I would be happy with a stream deal similar to the above as this would:
1. Expedite mining
2. Allow additional BOA's without discounts. Compare the 2-3 year price outlook for V compared to Co.
3. Generate cash flows for expanded plant
As a follow up to my previous post... PCY.to, another V hopeful,...
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