Nevman, I posted some time ago about these difficulties, and with the drought broken and aquifers replenished it gets harder. The problem is the salt and what to do with it. Aquifer Recharge is where they pump from one area, to pump it back down somewhere else is expensive and little understood of the ramifications when doing it. It will require a huge amount of bore observation holes and test holes to be drilled to get even close to a lock tight environmental impact study. I have always said that they played the Oaklands card well, drilled enough to build and exciting idea, but as soon as they realised it was never going to happen they swung north to projects that might. Oaklands coal has been known for 60 years but no-one has yet come up with a cost effective way to remove it. What to do with billions of litres of salty water – the greenies will have a field day here! I don’t believe that anyone with mouse truly prices in Oaklands into the SP, management have not made a decent release about it since 2009, so it seems they don’t either, apart from pushing coal-to-liquids to take the heat of them. I am happy about the possibility of being taken over though.
CWK Price at posting:
81.1¢ Sentiment: None Disclosure: Held