Agreed teneriffe... but having said that, I don't mind if there are some applications proceeding on the back-burner for any further projects down the track. Seeing as their JV partner Varun is an Indian company there may be something more behind this one.
As long as their primary focus is on the easy wins in their Madagascar project to generate cash-flow I really don't mind them lining up further projects for down the track when they are financially self-sustaining.
Especially since these projects can take significant time to get off the ground. Gotta start the process now if they want to do something with it a year or more from now.
CFR Price at posting:
0.8¢ Sentiment: ST Buy Disclosure: Held
