Also consider a potential delay in the issuing of the mining approval. Which, if you ask me, is on the cards.
As with other projects holders might get sick of waiting IF the permits are delayed longer.
Just to add my position - I don't hold, but I'm looking at getting on the train. However, as indicated on another thread, I work for large corporations in obtaining approvals for big development, including mines and quarries. I've also worked on some big green energy projects and I know that almost always these permits are not issued when the company would like them.
I really can't see the permit being refused. It so rarely happens that such a large project is refused, esp in the US at the minute with high unemployment and a need to dive the economy - if I were runing this project I'd be screaming the ecnomic benefits to the US people for the rooftop!
My thoughts are that:
a) permit will not be issued for a few weeks - SBC already said that the management have a history of not meeting timelines and their advice that it could be Wed might be Wed in 3 weeks. I could be completely wrong on the timing of this but, in reality the management don't know what day the permit will be issued. Think about it, when you are trying to build a house, what are the chances that the Council will tell you the exact day the approval is being isued? EVen if they say 'definately monday' woudl you believe them. THe only way management know the date of the permit is to have it in their hands! Rememeberm, this aspect I deal with on a daily basis!
b) IF the permit is delayed, share price will drop a little as people get sick of waiting - this is when I plan to get in.
c) permit will eventually come along - and everyone retires.
disclaimer: I am concerned that that I am wrong about the delay for the permit (im 90% sure I'm right) - but if I'm wrong I could miss the train altogether!
My thoughts only, I could be wrong (my missus reckons I'm always wrong). I'm not a ramper - I'm just trying to be honest.
WCU Price at posting:
34.5¢ Sentiment: Buy Disclosure: Not Held
