BSR 0.00% 1.3¢ bassari resources limited

John, The where are we now chart is great and careful not to...

  1. 54 Posts.
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    The where are we now chart is great and careful not to associate historically sensible data on the time axis. While the graph supports that it is smart to be on the journey, timing is now the key. But how long is the journey before we get any sort of return. My simple and uninformed analysis suggests we consider the following few among several steps:

    Mobilisation of the contractor and their equipment - minimum 8 weeks.

    completion of the mining camp ( they cant mobilise if it isn't ready - don't know how long)

    Mining may then start but only to stockpile ore.

    install ore processing equipment
    concrete foundations takes preparation time and 28 days to cure after pouring.
    last report suggested no rebar.

    install equipment
    last report suggested further equipment deliveries pending

    commissioning to ensure it works ( always underestimated)

    Lets hope the slab is poured during the mobilisation period but assume like everything else it is not because the rebar still isn't there and concrete batching may be a problem. ( I do not know whether it can be brought in or needs to be batched)
    Lets assume outstanding equipment arrives during mobilisation period (???)

    Lets assume another 8 weeks past mobilisation but with demonstrated past performance needs a conservative risk factor.

    Based on previous performance in the engineering logistics elements of the project a 100% risk allowance is not unreasonable. 16 weeks plus 16 weeks = 8 months to processing.

    So those that are staying, like me, this timeline bum pluck is from someone with no real knowledge of company position on these issues and knows nothing about mining in Africa. It does recognise past performance and is here for any discussion. Really the company should have posted such information but it does not, IMOP, because it never makes the planned milestones.

    I deliberately left any issue with funding out believing it will have been the focus of effort leaving the real work to fend for itself and pose the greater risk to timing.

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