I wouldn't see the water licence as a catalyst. Unfortunately this will likely be depressed for a bit longer, perhaps till mid 2013 when the decision to export is finally made.
Still not the worst. Probably +$10M cash left so no raising which is a comfort. Could be a good time to accumulate.
Sun check SUH another Euroz spec. Not as compelling in terms of being brought into production but catalysts aplenty.
I wouldn't see the water licence as a catalyst. Unfortunately...
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