I think they are talking to the regulator, trying to get some...

I think they are talking to the regulator, trying to get some clarity on the policy framework going forward so they can place a positive spin on the announcement.

With a market cap of $150M I dont think we are overvalued regarding risk/reward even with this policy backflip. I think the riversdale project will be approved and when that settles we will have a better chance of approval. As the company stated there are precedents for Cat 2 mining approvals. They need to keep working on the local ranchers and indigenous groups. They should be fully funded for another 24 months.