My 2 cents:
31 Dec 2010 - $1.10 provided resource and drill results are announced prior.
1 April 2011 - $1.90 provided native title announced prior. Small equity parcel to be included with jobs and royalty.
30 April 2011 - $2.80 agreement with Portman reached on use of Cockatoo Island. Capital requirement reduced to $100m
31 May 2011 - $4.00 provided binding agreement with Japanese is signed, including a 20-30% equity stake in Irvine project and offtake agreement. 20-30 equity stake should be purchased for approximately $124m to 186m.
30 Nove 2011 - $4.75 second offtake agreement signed with 3rd party.
31 Jan 2012 - $6.00+ EPA approval given - mining licence applied for.
My thoughts.
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