IMarket is a bit ho hum on this right now, I have talked to some...

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Market is a bit ho hum on this right now, I have talked to some today who see it as just extending the timelines and introducing unknowns in the funding/ ownership structure of the increased size refinery and what is the percentage COB will end up with in the mix. These are issues that will need to be conveyed in more detail over time. The direction is IMO absolutely the best possible one for COB, some who did/do not see why a refinery in WA is vital will only see a negative here, extended timelines, unsure of corporate structure/ownership of WA operations, or just change itself "we have spent years getting the Broken Hill project to get to this stage", was one comment and "I don't like change" was another. I guess right there you have it.....that's a bit of the short term market talking.

Markets will come around as the meat is put on the bone of this new direction, COB has a lot of work ahead, for me its all about the direction, sometimes its so easy to go fast in the wrong direction.

This is a really exciting development, news should flow on many fronts over this year, market will have eyes for concrete developments in WA on the location side and the refinery structure itself.

Cheers
Phil.