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KBC, the 'go ahead' will be a long way off in my opinion, they are going to be asking for loads for information and plans (I would also be asking for some modelling evidence too). The cash situation is going to be a very difficult one for BMR to resolve, as I believe that most accept that the funding crisis can only be resolved once the full approval is signed off (despite us being told “MA has stated to me that there are many options of funding and when you have big assests everyone will want to lend you money†
). So if they have to have the money in the bank (maybe 2 years production cash?) before approval, where is it going to come from?
Didn't see any DFS figures for the leachplant tailings, have they published that? I may of missed it? Will ZEMA?
They may give the go ahead as they are likely under a lot of political pressure but what conditions will the put on any permission given It could be a bit of a poison chalice. Lets hope they have/can show significant financial backing, although a few "in the know" think thats not a problem.
KBC, agreed 100%. It was the smallest section I've ever seen on Mining Experience ...apparently dependent on Ascot (who now have a less than certain relationship with MA)...do they think that ZEMA will be impressed with this experience when it comes to such a politically and technically challenging programme of work?
They have made an open end commitment to leave the site clean, no value put on that? All this eats into the final profit figure, need more details tbh.
Whats supposed to be happening with the non jorc (lower content but still significant) Leach Plant tailings (c3,000.000tons) left? c$1.25m will not be enough to lower the contained metal there to a safer level.
‘Project capital costs’, totally inadequate…where are the details? Where is the risk and mitigation plan for if BMR goes to the wall...measuring the toxic resources after they have been 'sealed' from years of stagnation is one thing, but after they become disturbed and distributed, then it becomes quite another...so if BMR fails, what will be the impact and plan of action? ZEMA will want to see evidence of cash and a commercial robustness that can withstand the vagaries of the markets and customer demand.
Allowed c$250k/yr for enviro monitoring but no figures on the work required to actually achieve the method statement put forwardto ensure no further pollution released during the work. Should be a prelim sum for this on top of the monitoring and that could be a significant figure.
I agree with both of your points...I think it is really quite poor. Far too much emphasis on the 'as is' and totally inadequate on the 'to be'. Gaps all over it...for example,where is the econometric modelling to demonstrate 'live model' as proof of impact and concept?