Why would Alcoa want to extend a time in bringing Warro project into a life?
TSV have released some clear timelines early 2009 They followed up with many statements of continuity of work. Now, The entire quarter they: "has been completing preparations for a 3D seismic survey in early 2010 and technical evaluation work programs including planning of the Warro 4 drill and frac program."
what bollicks "prep for 3d's" - code for we did nothing "planning of W4" - you wouldn't do that until the 3d's are in "planning frac" - you wouldn't do that until drilled
AND
"free carried" - free carried with no timeline AND they're going to wait until someone is willing to.
ALCOA not spending is no longer a theory - its right in front of you.
Alcoa announced massive cuts in capex and have made no indications of reversing it yet. You would sooner throw money behind vinyl record players than a aluminium de-risk project.
Lastly, Alcoa was never looking to become a energy supplier - just get energy for themselves - at the moment, they don't need any.
TSV Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
