a chat with management

A couple of us had a 1 hour call with DB & CT.
on site everything is going really well, the high pressure pump is up & going on k3, k2 has 2 low pressure pumps going & in about 2 to 3 weeks the high pressure pump will be going on k2. they also have a spare gen set now too .

we told them some of the concerns shareholders have.

Are we ever going to get there?

they came back with - its a matter of when & not if. They said it several times. They are in the process of putting together detailed data & technical info to explain why they believe this, the likes of PSI should love this , and they will start to disseminate this in the quarterly & then further at the AGM. They are very confident in what they have & seen so far.
there also have been many independent reviews done & they all point to this project working.

is the up side still many many multiples from here?

absolutely yes, as they believe the coals are of similar quality over our acreage & its huge. The broker report derisked numbers are not just made up.
Therefore I don't think they would be happy for a quick sale of 30 to 40c as some have suggested.

with what happened to DW they would not go into it & fair enough but what I do know is both parties agree this project can be a huge success .

With the SA government grant they are meeting with them next week & believe we have a good chance of getting a substantial portion of it.