back to 1.85

Here are my latest thoughts: It's not looking good for GWR sp. The buyers have dried up. I think it's going to be finished by 13 Feb. There are quarterly activity statements due soon and I see these as an opportunity for FAS to cement its case. I also want to hear about the off-take agreements and infrastructure plans FAS have mentioned in that letter. Gary hasn't delivered on the 100mt, looks like 1Bt is decades away. A little exploration success will send FAS sp to 40-50c and that will be it. I'm no longer confident there will be a cash offer, perhaps 50c maximum.