imo, because it has taken time to do the PFS which results in the market doubting the feasibility of the project
possibly (speculatively), MR does not actually believe in the project. if this is actually true, then the other SOP projects might also be hopeless & worse
did you notice the KLL PFS? the CAPEX was high
RWD's SS had US$74M (AUD$93M exch 0.80) for processing plant for 400Ktpa
AMN's SS had US$54M (plus US$8M for reagents ; AUD$84M exch 0.75) for processing plant for 370Ktpa
KLL's PFS had Process Plant AUD$117M (US$91M) for 300ktpa or US$0.304M per ktpa
based on KLL's PFS, the RWD and AMN CAPEX looked underestimated
on a pro-rata basis, RWD = US$121m (63% increase) and AMN US$112M (81% increase)
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