We have two immediate phases. Completion of the test plant, and testing of the 500 tonnes. It would be easy to think that real price movements will take place after successful completion of the latter. Well I for one would be wary of that senario and am more inclined to think of real movement coming before or when the announcement is made that the plant is ready for the 500 tonnes. My reasoning is fairly simple. Does anyone think Johnny W and his merry band of bhp cohorts will start the 500 tonne test until they think they have ironed out all the wrinkles; until they have poked hundreds of batches through the mill; tested every component? I doubt it. They won't even think about it. Which would basically mean, if I am right, that the day they announce the 500 tonnes is going through, is probably the day we can all breathe easy. And by then, every dog and his handler in Newcastle will know and the price will have started to move. Methinks. So, if you are thinking of a gentle rise running up till March or April, you might be disappointed.
But just my thoughts from a non scientific viewpoint. I think the real wait is for the plant to finish.
So, not really that long to wait.
Cheers
jwt
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