Surely with the way copper is trending, the sooner they can increase production at Ernst Henry (at a marginal cost) the better, let alone for increased Roseby minerals down the track.
Always a good possibility they'll walk, if only because corporations can make dumb decisions. But my feeling is better than 50/50 they will take up the option.
If they don't, well 18c again possible (my tip would be 22c) but methinks the exposure would soon see 28c again. Then expect gradual increase as AOH starts to get on more analysts radars as Finland over achieves and more JORC at Roseby.
Next week will be very interesting, I hope.
AOH Price at posting:
28.0¢ Sentiment: ST Buy Disclosure: Held
