Nice uptick on Friday. I would expect the initial JORC before Friday COB. From all the commentary leading into the permits, the expectation I have is that all the formalities and info are in place and it's just a case of submitting it to the ASX when the permits gave POK legal control of the land. This is not new information.
My guess is for about 500 Mt at a 23% KCl grade (mostly in the indicated and inferred categories). I believe STB went with 550 Mt @ 18.5% and ELM went with about 800 Mt @ 31% KCl. The resource is totally different for us but the numbers are just shown for illustrative purposes.
It may be reasonable to expect this should trickle back towards 50 cents on the announcement. I would then think we get the CR with a notice relating to the drilling plan, reinforcing why management expect they expect to hit grades north of 28%+ in the locations they are targeting.
jorc
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