Agree the market has been disappointingly sideways.
The POSCO deal is still non-binding, though for holders hope it comes off. You’ll get the funds say early 2019 then most Brines take 7 years to come on board. If you can do it in 5 great. JB will come later from cashflow. In the mean time you need min 5 years of good feed from Mt Catlin. One reason I don’t hold, though management is a bigger reason.
Ann: Becoming a substantial holder from MUFG, page-29
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