I presume that even with a so-called "closed circuit", SFMI will still need a permit for the cyanide circuit. There still is the matter of storing and handling industrial quantities of cyanide.
Amazing, though, that after 2 years of miserable recovery they still have not yet even applied for the permit. Who in the hell has been watching over the mill? (I know the answer.) In any other company, anyone letting a fiasco like this go on for two years without realizing there was a problem, identifying it, and correcting it, would be summarily canned.
And BTW, if indeed no permit application has been filed yet, then PQ's quote in the latest PR that "Permitting of a proper, legal, safe and environmentally friendly circuit is underway" is just more dishonest weasel wording. What does "underway" mean? That they've started thinking about it? Can't tell you how sick I am of this kind of crap.
There are a few events that would really help the share price. Significant revenue and outstanding drill results are the biggies. The low recovery rate means that the event that shold have already occurred (significant revenue) has now been moved down the road, probably at least another year (6 months for the permit alone). As of now, we are now pinning all our hopes on the drill results, which of course also depend on getting the permit to drill. I sure hope the word on the street that they have actually applied for the permit and are just waiting for approval to drill is true.
While there are other events that will help the share price, they are secondary goals that are insignificant in comparison to the primary goals of revenue and drill results. Changes to the BOD? Mostly cosmetic change that should have occurred long ago. Getting a new boss with mining experience? Again, something that should have happened long ago (pre-RS), and primarily a means to have someone who knows what they are doing get the drill results we need- which is a primary goal. And how much did having RS around help the sp? Getting financing? Again, a secondary goal to help speed achievement of the primary goals.
In summary- Get the blasting permit and drill.
