Effectively it is '"de-risked". The mining oeprations will be relatively straight forward as geometrically the deposit is flat lying and relatively regular. This will be standard open cast operations. One major plus is that it is not too far from Wyndham for shipping out product. Wyndham is a not much of a port, but Xsrata ships zinc concentrate from Bing Bong across in the Gulf from a very similar shallow inlet. So nothing here of major difficulty to overcome; fairly standard solutions. Given the margin on the titanium the relatively high cost of power and the water management issues shouldn't cause too much grief either.
The biggest hurdle seems to be the total obscurity of Speewah. NiPlats was obscure, but "Speewah" is a blank to most of the market.
SPM Price at posting:
25.0¢ Sentiment: ST Buy Disclosure: Held