news from puc, page-12

Lol, didn't have to wait long. NTU seem to be tracking along Ok in the circumstances so I'll leave that alone, more focused on the broader suite than a one trick pony given the divergence in demand forecasts from Kingsnorth et al. GL to all at NTU, they deserve a break along with everyone else.

BTW, not so concerned about the grade, provided their methodology is correct, and our new equity partner has some experience there which provides confidence.

The real Q for CUX, like most others, is how far up the value chain (separation) can they take the concentrate and at what CapEx. The big issue with RE, which punters are only just starting to focus on, is that margins grow exponentially, as does the CapEx, the further you go downstream.

Given our new partner probably understands this very well, and probably has access to capital, further dilution of PAN is probably no big deal.