More matter with less art

Orvana (ORV.to) has a nice snippet in its NR today

I liked this, from Orvana Minerals (ORV.to) today:

“In addition, initial work on the marketing study has indicated that transportation costs will be significantly higher than the $25 per tonne estimate contained in the Feasibility Study with a low end of the range of approximately $100 per tonne if the smelter(s) are in North America and a high end of the range of approximately $200 per tonne if the smelter(s) are in Europe or Asia. While external parties have expressed interest in off-take agreements, no agreements have yet been finalized pending financing and a final construction decision.”

Y’see, this cockamamie industry wants us to trust the word of companies when they publish a feasibility study. Not a “PEA” or a “Scoping Study”, that’s little more than a best guess, right. Not a “Pre-Feasibility Study” which is getting there but still prone to adjustments. Nah man, we’re talking “Feasibility Study”, the expensive documents with which you prove the economic worthiness of your project and then run off to the banks and get money to build the thing.
Except…errr…sometimes they add inputs to the Feasibility Studies that are off by a factor of four. Or eight. Right, Orvana? And nobody will care, nobody will make a fuss, life will go on as always. Then the industry leading lights will gather around cocktails at their conference meetings and wonder why the world has decided that they’re not such a good risk for speculative investment cash. Assholes.

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