Positive in the Ann is cash on hand, though suspect they will spend a few $ on the PFS study given there seems more people working on it now. Would like to see some of those additional funds spent on Morabisi too given I don't think $1 million spend there is enough.
OHD
Obviously attaining R&D tax concessions will aid the economic study and might help in getting a JV partner onboard earlier but I note not much said in this Ann on that front. My views on R&D in Post #:
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Problem is timelines are an issue for OHD given IMO it would take around 9 months - 1 year from the decision point to have the pilot operational, assuming approvals are received in a timely manner (so looking at a pilot plant not been in production until the latter half of 2018 at the earliest). So the decision to defer also has consequences albeit if leads to better scoping that is also a positive. Pilot needs to be scoped so that it can be added too in a commercial setting, hence against this context remains unclear too me why wait for further trials unless the pilot proposed will be greater than 20 tonnes per day been the original proposal, I recognise what the Ann says but my thinking is are we expecting a bigger pilot because if not why not build now and add units to the pilot down the track. Timelines and scoping a key here as I posted previously for OHD. A pretty blunt assessment on OHD timeline to to be frank. See Post #:
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Morabisi
For Morabisi my views are basically these in these two recent posts embedded in Post #:
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Given they are in effect doing more shallow drilling techniques (ie. trenching/held hand instruments) than anything else here I personally believe they can report results more frequently from first shallow drill because for what they are proposing to do they shouldn't be reporting results at the end of the year (which I don't think they would be doing that even though Phase 2 is due to end end December from recollection from one of those Anns.)
Overall View Now
Won't comment on anything else as said enough in the last few days. Certainly see GPP as a bottom draw share at this point in time until these projects get a move on. Posters here will need to decide if they intend buying on any future lows. As I stated a few or so days back I have put any spare cash elsewhere at this stage - if I see progress I may buy a more here later on but not at this stage. I still hold a partially free carried parcel here so can understand why some holders, who are now in losses, here are pretty well annoyed at what has happened here last two months. Until timelines get locked in I think SP will stay roughly where it is, but IMO there is more downward pressure than upward pressure on SP I hate to admit here since missed timelines is something the market hates.
Anyway missing timelines isn't an issue if the goods are delivered, so lets see what the PFS does and/or we finally find out what that white clay at Morabisi is. If the white clay is representative of Greenbushes - refer weathering link in the post in Morabisi section - then all good here but the wait is annoying to say the least but waiting is part of life's joys just like when you see that great delivery van delivering you a fresh carton of VB the night after you ran out of VB. But lets hope the VB aint flat because that would be a disappointment.
All the above IMO
