42c on tsx, high of 44c, page-7

Each event below will have a decent kick in the SP- not sure if I am the best person to predict sp - in 2012 I was expecting a sp of $3.00 :).

In no particular order:

1. Formal approval
2. Start of construction
3. Eig drawdown
4. Improv of coal price or at least outlook
5. Confirmation of production date
6. JV partner/off take/ finance
7. Short covering

All within this year IMO.... So hopefully back above 1.5

In any case I still think once this gets more real, it will get taken out...

Hopefully by someone who thinks they can build the plant cheaper so the takeover offer comes before they start.

IMO