The announcement today was a necessary step and it has now happened. Sure, it confirms no mining before 2019 and we will all have a fear that the timeline for that has considerable risk. However, it is a conditional approval by the Federal Government and that in itself may be worthwhile in helping other things move forward?
- the CLC could sign off on a deal that would clearly be dependent on the mine getting up and running
- a binding off-take for Titanium may be achieved
- after those two things finance should only need the approval of the management plan
Any of these steps should see the SP creeping up now that we don't have a very significant capper on board. Perhaps unlikely to break 30c for a while, but you never know.
The announcement today was a necessary step and it has now...
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