hi @timbin4. I'm trying not waste any more time re pnx but IMO they are demonstrably way behind this timeline. A couple of things:
(a) this timeline was originally published with the pfs ... July last year I think.
(b) a notice of intent has not been lodged as was contemplated July last year. See NT government web-site https://ntepa.nt.gov.au/environmental-assessments. I also recall some comment made in Dec 17 qtrtly along the lines that the Notice of Intent can now be lodged. A Fountain Head was a pre-condition ... it still does not appear to have been lodged
(c) Before PNX, it was Phoenix Copper. In hindsight, the Hayes Creek project trajectory is not markedly different their SA copper plays ...
(d) It's possible that given history of site, environmental approvals effort might be less than otherwise. My experience suggests it is the most awkward protracted process fraught with pot-holes. So unless it's waived or is already well underway, the timeline will shift by around 12 months at least.
(e) If they were serious, they would be hunting capital of around $5.0m . IMO they don't have any rabbits in the hat left (eg. silver forward sales complete) and their outward presentation is not that impressive ... so any raising ahead will either be major shareholders throwing in some shackles or them going to market. Either way, the float will be price sub 1c so they'll need to issue about 500m shares ... And after that, they'll deliver a dfs maybe underpinning a short mine life (6 years) project.
Gotta hate it!
Have a great day
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