Well i have just returned from 6 months of therapy in Canada. Maybe it was the cool clean mountain air that resulted in my change in sentiment.Yes i did need recently need medical attention. Picked up some weird bug whilst there. My Dr reckons i could have contracted Covid. Having never ( knowingly ) had it before i thought it was just the flu.Still suffering from random dizzy spells. However i digress.
Whilst I'm a lot more comfortable with Saturn now than i was 12 months ago there are still a few things that concern me. The timeline is the big one for me. We were going to get started on the pilot plant in 2025. Oh i know they have contracted out for design etc. But we were lead to believe that construction of it would be underway this year. Now that has been pushed out to 2026. How long will building that take ??? How long will they want to operate it for before building the main plant ???
I may be very wrong here but i cannot see the main plant being under construction before mid to late 2027 at least. Then allow at least 18 months for construction ( maybe more ). Do you see where I'm going here ? We could be looking at 2029 / 2030 before the main plant will be operational. Now i know the pilot plant will be generating some cash in the interim. It will however be peanuts in comparison to a full scale plant.
Then there is the big unknown factor. That being the gold price. Where will it be in that time. Simple answer is no one knows. It could be substantially higher. It could be substantially lower. I know all the so called experts predict a higher for longer. That this is the new normal etc. Well i have been around long enough to have seen the new normal come & go many times across a range of commodities. The so called experts disappear with their reputations trashed.
My point is i think there needs to be a greater sense of urgency with getting this into production. A rising gold price has so far worked in their favour. That will not always be the case.
I do wonder at times whether they have had initial talks about getting finance to build a plant & have been rebuffed. Maybe because the deposit base of proven & probable has been seen as too small. Hence yet another drilling campaign. Maybe they hope that someone will come along & make them an offer.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
in Canada. Maybe it was the cool clean mountain air that resulted in my change in sentiment.Yes i did need recently need medical attention. Picked up some weird bug whilst there. My Dr reckons i could have contracted Covid. Having never ( knowingly ) had it before i thought it was just the flu.Still suffering from random dizzy spells. However i digress.
(20min delay)