Ann: Thunderbird Construction 85% Complete, page-14

Storm in a teacup... I posted no sentiment about STA's value/price, only that 6 months on from declaring commercial production via wetplant commissioning they still can't get over 50% HMC product per month. I'm sure they will get there, or there abouts in time, but it's a reminder of the where the ramp-up risk lies with developers. Building the plant is the easy bit +/- time/cost slippage. Meeting design parameters on production, quality and cost is the risky business.

At 30c STA is now a lot cheaper than 55c when SFX was mid 30's and posters like @Franpower made the observation the two valuations were out of whack given the similar product mix, WA location etc. With that position sort of reversed, and SFX still to get over TB's commissioning hurdles, I really couldn't say one was a better overall bet atm. That said, if Coburn ends up with a lower steadystate production due to fundamental production issues then you probably don;t want to own STA until the dust settles...

GLTAH