Be careful when getting excited about permitting. They are...

Be careful when getting excited about permitting. They are really tick the box exercises and are events that are expected in the course of the project development - the ones that are expected often do not provide any SP kick. Happened even yesterday with BGL, final permit issued and SP dropped slightly.

Technically and operationally, SVM looks like a great match for CLA, apart from the price being offered. The people who I know (Blind Freddy can see this in the broker data also) who are moving their holdings from SVM to CLA are both an opportunity and a risk. If a deal did not proceed, would they bail out or hold for the future value ?

One might imagine that SVM may be holding the SP down but I don't think they are that stupid. They would be well aware of the registry's nominee tracing capabilities. It will work out badly for anyone who comes up in the traces as manipulating,