Production scheduled for late 2013, so lets call it 2014, from Taralga. Key issue we are waiting for is an offtake agreement, which apart from usual conditions will hopefully also fully fund the feasability studies. Discussions ongoing, with announcement expected before June 2011. I would think the next drill results from Taralga will be a catalyst to the offtake negotiation. It all reminds me a bit of BTU ... very similar produciton time lines, low cap ex projects, known strong demand for product and once BTU announced it offtake with Stemcor in early Dec, it really allowed the stock to re-rate to its new trading level.
ABX Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held
