Great announcement! I was expecting this to be released EOM, but it came out a few weeks early which is nice.
The most significant positive to take from this (which will provide some support for the share price over the next 12 months) is the last paragraph:
"We are now concentrating on coal offtake and transport options and on finalising the necessary infrastructure. When these plans are complete, we will progress funding alternatives, with the aim of starting construction when we receive the mining rights."
In otherwords this PJ is saying that within the next 12 months we should have the following sorted:
We've been saying FY 2010/2011 would be exciting! I think the production target of 2013 scared a lot of people off, without recognising that the above will provide a catalyst in the shorter term (over the next 12 months).
Glad I got filled at 39 this week :)
Sit tight!!
Cheers.
RES Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
