I'll double down on my previous mid 22 comment on the integration study and suggest it is very close and the broader outcome known. the basis for my opinion are three decisions made in the last 8 weeks that would in my opinion not be made unless there was a finger on the button ready to say GO FOR IT. 28/4 FLSmidth given notice to proceed on Front End Engineering + Design (FEED) of key roasting kiln section. FLS know our product intermately. Completion date expected in 26 weeks.....put 27th October on your timeline. These are long lead-time items and reinforces our Poll Position. 13/5 Pay increase for Ian "....is a reflection of his performance over past several years" Decision announced 6 weeks out from his stated date for the release of an important study. I think another pay increase will happen before the end of the year because if he delivers on the next 6 month schedule and May is the time for salary reviews the next one is going to be eye watering. 8/6 Gas Pipeline early works agreement executed. From my memory this involved rerouting the pipeline closer to TMT and another long lead-time item and one you don't "execute" unless you have a reasonably sure idea of future outcomes. In a gas market that has protection for end users and one that is now being hailed as a gold standard.
There are only 2 sorts of people....Those that live in WA, and those that wish they did.
TMT Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
