Today's quarterly covers a lot of topics that should give market...

Today's quarterly covers a lot of topics that should give market participants confidence that new management have been working away in the background, quietly ticking off the required boxes.

Until recently the shareprice has traded at what looks like an unreasonable discount, primarily I imagine due to uncertainty around the project economics given the changes that have taken place since the previously released 2019BFSU.

the content of the quarterly, although not definitive, should give participants confidence that things are on track and on budget and that FID is likely to happen and construction will commence in early 2022 as planned. There is mention of several factors that suggest an increase in NPV compared to the previously announced $980mil.

Also things said which suggest that no additional capital will be needed to fund the project (upfront capital costs will remain at approx $392mil inline with the estimate the 2019 BFSU), and reductions in debt related contingencies may even see the overall cost of $478mil drop.

this new information will hopefully see a re-rating in the stock to something more inline with a NAV of $1.50 a share (at production). Even considering the apathy in the SFX market, I'd like to think that on heavily discounted fundamentals alone, at this juncture a price of 45c is very maintainable, let's see if some value buying emerges over the next days.

good luck