Volume, page-616

Hey Tommo, like your stuff even though it is out there.

Just have to be patient. These guys are working through things methodically and things can't be rushed - they have an agreed program and as long as they stick to that the SP will grind slowly higher. They don't even have the investment decision finalised yet, although it is looking greater than 85% likely, so many works cannot be committed.

In terms of offtake agreements, all they have done is test the market so they can line their ducks up. Good strategy by management - make the market well aware that production is not long off.

Don't think the management would want to have an offtaker being their financier - you are a captive that way. Why would you not go to the market for finance or do another CP ? Market finance would be preferable IMO.

From what I have heard from the MD, they are not interested in a purchase. Maybe there will be a hostile one, but that not likely that would happen before production is in place. Why would a purchaser buy now before it is a proven operation again ?

Anyway, will be a good year for this one. SP is cheap !!