According to a report in one of last week's FinRevs, PAL is due to release the long-sought BFS about end this week or next, hence the price increase (on low volume). Time will tell if this occurs, I expect there'll be even more delays - hopefully not, but it seems almost inevitable with this Co. Anyway I'm preparing for the worst and a possible price drop short term if no news in 1-2 weeks. But even so, I presume the BFS will be out within the next few months and I think financial close quite likely by end year - far too good a project not to go ahead. Before that there are a few things the Co. needs to tidy up - eg the Star deal. Resolution 2 is also interesting in that (I think) that by becoming a Pty Ltd Co. it clears the way for calling in the oppies prior to a possible share consolidation (5:1 was suggested a couple of mths ago in one of the papers). The pieces seem to be coming into place - not too many more left to go, even if they are the most important.
By the way, this project is MUCH better than Aust Mag in my opinion much less risky technology too, so I expect that if PAL get the go ahead their share price will behave very much differently to Aust Mags.
Re Aust Mag.: In my view it's scandalous the way the Feds threw untold $ into the Qld project (just before the last election) and now doesn't seem to give a stuff about PAL - in a less politically important state and time. The SA trio Downer, Hill and Minchin don't appear to be doing much for SA's interests - Feds throwing the Aust Mag project $$$$$ even with it's technology untested at sizeable scale - and now sitting meekly at the sidelines while a mag. project with an excellent, well proven technology hunts about for $ to get started. I don’t believe in handouts but it isn’t right for AustMag to be given sh**loads and a similar project – a potential rival - nothing at all. So if the Feds don't provide some support (a $25m match with SA's contribution would be useful) and this project goes ahead, the SA Govt & Pima should be allowed to keep the bucket loads of tax the Feds will sponge off Pima’s business and workforce for doing what amounts, at the end of the day, to sod all.
