I think that reflects the nervousness of the market regarding...

I think that reflects the nervousness of the market regarding TI1. Just not enough info on how things are progressing.

For instance, are they actually mining and selling at the moment? They expected to produce 1mtpa but are they going to be anywhere near that? This should change in the next two weeks with the quarterly update due out. Hopefully it will show good progress on both shipping and sales to BSMs.

IMO we should be trading around the 7c mark with all the uncertainties but the market obviously sees them as a higher risk than some of the bigger boys!