Ann: Southern Cooper Basin Contingent Resource, page-17

Thanks Listerine. Was assuming they were working for STX. I always discount reports produced by the gas company themselves.

For me, this is the most important HARD fact from the announcement is:

The positive outcome of the Independent Review triggers the mechanism for the final tranche of Orora’s gas prepayment under their 45PJ Gas Sales Agreement and marks the commencement of a 30 day period for Orica to elect to make the first gas prepayment under their 250PJ Gas Sales Agreement.

We have all seen huge GIP and Contingent Reserve figures produce by gas companies (I'm looking at you Icon Energy), and many people not already invested in STX will take them with a grain of salt. However, the fact that we've triggered another funding milestone is unambiguous evidence that we are are where we hoped to be (or far ahead) when the project started. On this alone, you'd think the project has been seriously de-risked, yet we are still trading at around or below when the project began. The market throws up some interesting conundrums sometimes.