I didn't feel that the interview added anything to where we thought we were at around November last year.
"Ready to go".
"Awaiting approvals".
"Resource upgrades coming".
"working on off take agreements".
While I don't blame SB for the lack of the MMP I didn't sense any particular optimism in the interview. More just 'steady as she goes'.
I have a bad feeling that the MMP could still be a way off, and without that, and even with resource upgrades, I can't see CXO breaking out soon.
Up here you have to work backwards from the wet season, and if you don't get a start in March, your window for construction starts to close.
You can do a 6 month job in 5 months maybe, but you can't do a 6 month job in 4 months.
Miss it and it costs you 3-4 months at the other end, and everything starts again 3rd quarter 2021 and another 6 months of cash gets burnt while everyone sits on their hands.
I'm in for the long haul, and if we get approvals next week........
Just didn't feel it from the interview.
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