I think it is overly optimistic to expect a HUGE re-rating of the SP based on granting of the EPL - when it was esentially a formality anyway. It was already priced into the SP. In addition - We know know he coal is there. JORC or no JORC.
2ndly - Seegb is spot on - the next major milestone that will drive SP gains is signing some development and/or financing ageement to support development of a trial plant on the MNM tenement under the JV terms.
IF this is succesful - then MNM will be positioning itself as the next FMG of coal. Watch TATA, Itochu, etc then...!
It is a distinct possibiity - but all need to be realistic about timeframes and expectations in the immediate short term. Long term this has brilliant potential.
MNM Price at posting:
15.8¢ Sentiment: LT Buy Disclosure: Held
