They still need to address the elephant in the room - Step 2.
Offtake for the ilmenite
Who are they going to get as a JV partner?
How much are they going to get for the selldown of the project?
I actually thought that Chris Ellison and his mob may have taken a look, but announced today they were buying Atlas Iron.
Fini Review today.
For me the question is:
Why would an offtake partner stump up $125m odd for 25% of the project, then stump up another $50-$100m odd to fund Thunderbird, wait 3-5 years for a return and only be a minority partner ?
Wouldn't they want control if they were putting that much coin in?
P
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