Bit concerned about the high Phos levels of Bungalbin East - it really raises the sensitivities of the project. Drilling may be able to define lower phos areas - Chamaeleon and Carina may come up with lower impurity IO. Again - nothing's going to happen without drilling!
Portman have a hell of a time with their hi-phos ores, and having the low-impurity ore sources at a reasonable grade to blend it down will become an increasing issue.
Other issues they have to deal with is high chlorine levels due to the ultra-high groundwater salinity - it requires washing of the ore with water sourced from the per-kal pipeline (expensive).
In case anyone's wondering, I went to the Kooly open day the other weekend - very informative.
This all leads to my conclusion that Portman have picked through all the easier, low-impurity, hi-grade ore - and should their regional neighbours come up with the goods, then they're in a position to take a deal rather than make one.
POL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)