I can see a lot of people excited by the prospect of an immenent...

I can see a lot of people excited by the prospect of an immenent Permit to Mine being issued and I think there's a fair percentage that see this as a trigger for a SP rise. I wanted to question this and see if anyone had a good counter argument.

From where I'm looking at things a PTM is not much more than a fairly insignificant box ticked without us having already publiched a DFS and a subsequent decision to mine (and hopefull finance). It could help trigger a greater rise once the other goals are achived but I can't see the market making much moe than a mental note on this. In my view we've got the horse before the cart in the way things are progressing now. Without a DFS and a decision to mine now real action can be taken on receipt of the PTM. We can't start construction, ordering long lead time componenets or even make meaningful approaches to possible financiers without having put forward our business case (DFS) and indicated a decision to mine.

I know sme believe that the holding off of our DFS till we see a better market is a good thing (I'm really not so sure) but we're going to miss one of our little bump ups with the PTM receipt without having our DFS already in the market.

I just hope that when the DFS etc come out we're compensated by a larger than expected rise in the SP but I'd have to say there's no guarentee of this and we may have lost one of our momentum providing moments.

As always I invite counter arguments alternate views