Things must be bad when all you stalwarts start getting negative. The project looks to have been massively de-risked by MOU, and should be even more so if they can get a BFS friendly deal signed. Then it should be a matter of waiting for the dominoes to fall and (hopefully) mining to commence. Don't capitulate team...you guys have been there all along!
The market should eventually price this company on earnings and DCF, not $/tonne in the ground (even on that basis it looks ridiculous). In the short term though we are at the behest of markets, but European gyrations will not increase or decrease the amount of coal in Waterberg.
RES Price at posting:
45.5¢ Sentiment: None Disclosure: Held
