Without knowing when the rig is free, its hard to know when to expect news. Did the JV relationship have a time frame? If indeed Alooa are reviewing options then the JV partners must surely have set Alcoa a deadline so they can source another partner should the need to before the rig becomes available again.
All I want to see in an announcement is if the rig is confirmed for Warro 4 and when they will drill. Lets not forget Alcoa are still not looking flash worldwide.
Alcoa's cautiuos approach to expediture is effecting all of there operations and does not reflect a concern in the Warro project.
What i'm saying is, if Alcoa were to pullout it would likely have more to do with theer financials than the state of the Warro field.
TSV and Latent could then get a cashed up JV partner who is committed to taking the project forward.
TSV Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
