I agree, normally I'd be the first to criticize PB, especially for establishing unrealistic timelines (I remember back when the EIS was slated for 2015!) but for the first time in the last 12 months I actually believe that we are approaching this pointy end he has referred to. For a multitude of reasons the retail market has had unrealistic expectations of what it takes to get a project of this magnitude off the ground - TNG is unloved by the market which is justification for the market cap hovering around 120M, blaming the Chinese for the suppressed SP is just easier than blaming ones own investment decisions and emotional attachment to a stock that we've put both time and capital into.
So what is different? This time around we know that TNG and GHD have worked directly with the NTEPA on the supplement, we know that it is now in their hands with a definite response deadline - worst case scenario this is the second week of January.
IF approved, the EIS will satisfy the traditonal owners/CLC and the mining licence will be granted. With permitting in hand the project will not only become more of a reality to the broader market but will allow TNG, SMS and Gresham to really push in with project financing. Yes the export credit process will be slow but I honestly believe that we'll see Downer and possibly CAT onboard prior to finalising TiVAN/refinery specific capex requirements.
I notice previous posters getting thumbed for TNG touching 11c - goodluck, if it breaks even 13.5 I would assume that something major has gone amiss and I for one would be out. IMHO - now is definitely the time to put some pressure on PB & BoD (esopecially re. the TiO2 offtake, exact processing route for the pigment and BOOT details) but not the time to sell in the hope of TNG retesting 12 month lows, not for the longtermers anyway.
I've wanted TiO2 details since at least Jan 2016 and have considered it a major risk to holding on here (without the TiO2 the project is worth nothing) but I think we're underestimating just how positive a cataylst EIS approval will be for the project.
Anyway, I'll put the pom poms away and hope that PB isn't referring to this type of pointy end, we wont have to wait long to find out.
