Agreed. For all the emphasis we are placing on it, the actual...

Agreed. For all the emphasis we are placing on it, the actual ignition of the pilot burn doesn't actually prove that much. We know UCG can be done. We even know Len and Ergo can do it.

The true results of the burn and the effect this has on the project's feasibility and profitability depend on gas volumes, quality, and consistency, and this won't be known for months. There may be a spike in SP when ignition is announced but as the market realises how far there still is to go it could end up back at current levels.

I certainly won't be buying immediately AFTER ignition no matter what happens. I would have thought anybody wanting to take a punt on the Cat would be laying their bets before ignition, and it surprises me the bid/offer imbalance is so marked - it would appear the wider market doesn't agree with me.

So be it. I don't drink scotch, even 50 year old scotch, but I'm sure I can find plenty of other ways to celebrate!